Author: Meghan Parsons

Common misunderstandings about a reverse mortgage

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The reasons to get a reverse mortgage are as diverse as the people getting them. Yet there are countless people that could benefit tremendously

People get reverse mortgages for all kinds of different reasons. Part of their overall financial plan is they no longer want to make a monthly mortgage payment, or they want to create additional cash flow or pay off debts. The reasons to get a reverse mortgage are as diverse as the people getting them. Yet there are countless people that could benefit tremendously from a reverse mortgage but won’t even consider it because of these common misunderstandings.

Misunderstanding: You Must Give Your Home’s To The Bank.

You remain fully vested on the title, not the bank. You are in full control and can sell or refinance your home.

Misunderstanding: The Bank Gets The Home When You Die.

The home will go to the estate. The estate will determine what to do with the home. Any remaining equity from the sale of the home goes to the estate.

Misunderstanding: You Can Outlive A Reverse Mortgage.

There is no term on a reverse mortgage or any balloon payments. The loan is active as long as you are living and the home is your primary residence.

Misunderstanding: I Could Owe More Than My Home Is Worth.

You can never owe more than what your home is worth. The FHA reverse mortgage is a non-recourse loan, which means, if the loan amount exceeded the home’s value, you, your heirs or your estate are not liable. The most you can ever owe is what the home is worth.

Misunderstanding: You Should Only Get A Reverse Mortgage If You Are Desperate.

In the past, reverse mortgages attracted the stigma that only desperate homeowners would get a reverse loan. Today’s senior homeowners are seeing the value that a reverse mortgage brings to their lives not only from a financial perspective but also in an increased quality of life.

Misunderstanding: You Need To Own Your Home Free And Clear In Order To Qualify.

You do not need to own your home free and clear in order to get a reverse mortgage. Many people get a reverse mortgage to pay off their current mortgage and free up monthly cash flow.

Misunderstanding:  I May Lose Social Security Or Medicare Benefits.

A reverse mortgage does not affect Social Security or Medicare because the proceeds are a loan, not income. Some need based programs such as Medicaid may be affected.

Misunderstanding: I Can’t Use The Money The Way I Want To.

It is your money and you can use in any way you see fit. You could purchase long- term care or life insurance, supplement your income, pay for in-home care, pay your grandchildren’s education, remodel, or upgrade your home or anything else that makes sense to you.

Article Provided by: Matt Allen, MLO-254296 Pacific Residential Mortgage LLC
NMLS-1477/WA CL-1477
Equal Housing Lender
541-500-0186, www.OregonReversePro.com

 

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What is a LTACH (Long Term Acute Care Hospital)?

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Long Term Acute Care Hospitals (LTACH) are designed to care for critically ill and medically complex patients who require several weeks in a hospital.

Long Term Acute Care Hospitals (LTACH) are designed to care for critically ill and medically complex patients who require several weeks in a hospital setting. Typical patients have multiple co-morbidities, multi-organ system failure, and significant loss of independence following a traditional hospital stay. Specialty programs include: Complex Respiratory and Ventilator Weaning, Medically Complex Conditions and Extensive Complex Wound Care managed by our Board Certified Specialty Physicians.

Our Complex Respiratory and Ventilator Weaning Programs are managed by our Pulmonologists and partners from The Oregon Clinic. Designed to address the needs of patients during and after mechanical and non-invasive ventilation, our program works to ensure that each patient achieves their fullest recovery potential.  Our highly skilled treatment teams are led by the Pulmonologist working in conjunction with our Hospitalists and ACLS-certified Nurses and Respiratory Therapists.   With a commitment to identifying and maintaining best clinical practices, our program is specialized in the treatment of Respiratory Failure, CHF and COPD exacerbations, Pneumonia, Emphysema and Respiratory conditions with high oxygen needs.

Our Complex Wound Care Program is designed and staffed to treat medically complex patients with a broad range of complex wounds. Using a multidisciplinary approach our Hospitalist and Specialty Surgeons work with our Wound Care Certified Nurses and Dieticians to conduct a complete diagnostic assessment of each patient before developing an individualized plan of care. We specialize in the treatment of: Post-Surgical Wounds, Stage III and IV Pressure Ulcers, Vascular Ulcers, Fistulas, Wound Dehiscence, Complex Ostomies and Wound Debridement.

We specialize in aggressive goal-directed care that requires an Interdisciplinary Team approach to care and recovery. This team includes Hospitalists who assess patients daily, Specialty Physicians, Nurses, Respiratory Therapists, Pharmacists, Nutritionists, Physical Therapists, Occupational Therapists, Speech Language Pathologists, and Case Management. This collaborative team coordinates care so each patient has the best individual outcome.

Some of our specialty services include: 24/7 coverage by Hospitalists, Pulmonologists onsite 5 days/week and on-call 24/7, Consulting Physicians include Surgeons, Infectious Disease and Nephrologists. We offer Cardiac Care and Telemetry Monitoring, Specialized Post-Surgical Care, onsite Chronic and Acute Hemodialysis, onsite Pharmacy, Laboratory and Radiology Services.

Article Provided by:
Vibra Specialty Hospital
503-257-5500
www.vshportland.com

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Hearing impairment is not a benign condition

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We all know how important it is for them to be able to hear as well as possible so they can function at their fullest potential, at school, work, and
in relationships.

We all instinctively know hearing impairment is not a benign condition. When a child or adolescent is diagnosed with even a mild hearing loss there are multiple programs that can help them get hearing aids – we value their hearing. We all know how important it is for them to be able to hear as well as possible so they can function at their fullest potential, at school, work, and
in relationships.

Yet for some reason, when adults have a hearing loss many people seem to think that it’s nothing to worry about. Most people seem to think that it’s okay to just live with the impairment. However, untreated hearing impairment can have serious consequences.

Hearing impairment contributes to:

  • Social isolation
  • Depression and anxiety
  • Increased hospitalization
  • A decline in physical functioning
  • An increase in falls –
    a mild loss = 3 times more likely to have a history of falling
  • Cognitive decline
  • Early death

Hearing impairment does not primarily affect the elderly. The majority of people, 50% of women and 64% of men, start to perceive hearing impairment between the ages of 20 to 59 (20% of females and 17% of males are identified as having impairment before the age of 20). And 12% of adults between the ages of 21 – 84 have hearing difficulties even though they have normal pure tone test results. Because we associate hearing loss with old age most people put off dealing with hearing impairment thinking they aren’t “old” enough to have hearing aids. Imagine what would happen if people still thought this way about glasses. Most people think hearing aids just aren’t worth the costs. Hearing loss is usually ignored for years and by the time it is dealt with there are often irreversible complications such as treatment options are limited yet more costly, and outcomes are less satisfactory.

Hearing impairment is a disease state and not a benign condition. Early diagnosis and treatment of hearing impairment is an important part of limiting its effects upon our mental, emotional, and physical health as well as upon our work and relationships. We need to stop ignoring hearing impairment.

Article Provided by:
Nathan Willard, Hearing Aid Specialist, SoundScape Hearing Aids
541-414-8488
www.SoundScapeHearing.com

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Funeral & cemetery arrangements: Why you should pre-plan

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gives you enhanced peace of mind knowing there will be adequate funds to cover funeral expenses and that your wishes, beliefs, and preferences will be met.

Thorough and careful pre-plan for your funeral, memorial service, cemetery and end-of life choices gives you enhanced peace of mind knowing there will be adequate funds to cover funeral expenses and that your wishes, beliefs, and preferences will be met. There are many benefits of the pre-plan and we have covered a few below.

Locking In Costs vs Inflated Costs:

Pre-planning and pre-funding generally ensures that your funeral and cemetery arrangements are completely paid for at today’s prices. The funeral and cemetery industry faces inflation, which drives costs up each year. National statistics show that cemetery and funeral costs are expected to double every 7-10 years. By pre-planning, you lock in today’s cost rather than forcing your family to pay inflated costs upon your passing.

Making Rational Decisions Together vs Emotional Decisions Alone:

Making these decisions ahead of time allows for more careful consideration of all the options in choosing the funeral and cemetery arrangements that are right for you and your family. Statistics show that more often than not, a widow is left to make these decisions in the worst time of his or her life, upon the loss of their best friend and life partner. These are not times that anyone should be making any kind of financial decision.

Telling Your Own Story vs Someone Telling  It For You:

Thoughtful pre-planning of your arrangements allows you to make choice based on your preferences. Making your wishes known in advance will reduce the number of decisions that your loved ones will have to make and may help make this time of loss less stressful.

Pay As Affordable vs  Cash Up Front:

Many people assume that savings or life insurance policies will cover the costs of one’s funeral and burial, but when a death occurs, these costs must be paid up front before services are rendered. Pre-planning allows you to pay as affordable with terms to meet your budget verses your family having to pay the entire amount at the time of your passing.

Peace of Mind:

Knowing that all of your affairs are in order will give your loved ones peace of mind. This peace of mind

Article Provided by:
Perl Funeral Home &
Siskiyou Memorial Park
541-772-5488
www.PerlFuneralHome.com

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What is an Adult Family Care Home?

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Residential care is a term used to describe a home or community where an adult can live and receive care in a homelike setting.

If you or a loved one need more care than you can get at home it may be time to explore residential care. Residential care is a term used to describe a home or community where an adult can live and receive care in a homelike setting.  There are many residential care options that have become available over the last several years. Each type of residential care home offers different housing and care service options. It is important for families to understand the differences in available residential options. Decisions can then be made based on needs and preferences and what a particular residential care home offers.

An adult family home (AFH) is licensed to provide housing and care services for 2-6 adults in a regular home located in a residential neighborhood. The AFH may be run by a family, single person, or business partners. The Adult Family Home may also hire other employees. Some AFHs allow pets. In some homes, multiple languages are spoken.

In an adult family home staff assumes responsibility for the safety and well-being of the adult. A room, meals, laundry, supervision, and varying levels of assistance with care are provided. Some provide occasional nursing care. Some offer specialized care for people with mental health issues, developmental disabilities, or dementia.

Many consumers who choose an Adult Family Home do so because of the smaller more family like environment.  For some people the smaller amount of other residents and staff contributes to increased comfort level.  In an Adult Family Home space is more communal.  Residents may have their own bedroom but common space such as living room, dining room, kitchen, and often bathrooms will be shared.  For this reason, it’s important to not only choose an AFH that offers the appropriate care services, but also one that fits the individual’s personality.

An assisted living facility (ALF) is licensed to provide housing and care services to seven or more people in a home or facility located in a residential neighborhood.  Like an adult family home, assisted living facilities provide housing and meals as well as assuming general responsibility for the safety and care of the resident.

The additional services offered are different for each home and may include:

  •  Varying levels of assistance with personal care.
  • Intermittent nursing care (a nurse available on a part-time basis).
  • Assistance with or administering of medications.

Adult family care homes are each unique as the residents they serve. Visit with the owners, staff and other residents to find your perfect fit for care and social concerns.

Article Provided by:
Virginia Yanos RN, MS
425-971-9342
www.ABeautifulLiving.com

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Volunteering: Making a difference at any age

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Studies have shown that volunteerism can contribute to living longer and that it improves overall brain function.

It is never easy in life to make a transition from one home to another and making the decision to move to an active living or assisted living community can be even more challenging. One of the primary concerns seniors have about moving into an active or assisted living community is that they’ll become disconnected from the community, activities, and causes they care about most. But the truth is, active and assisted living communities provide the perfect setting for building coalitions, forming outreach task forces, and planning benefits for the communities and the causes that matter to you.

It is extremely important for all of us to remain connected to the people, communities, traditions, and causes that we each find most important to us. This could be anything from volunteering at your local church or food bank to organizing fundraisers for local causes, the options really are limitless. One of our favorite residents reads books to kindergarten children at a local school every week – fantastic intergenerational work! If you are someone who is heavily engaged in your local community and causes and if you’re also considering retirement or assisted living, we recommend looking into active living communities that encourage engagement and foster socially responsible outreach and activities. The right active lifestyle community for you should offer you plenty of opportunities to stay involved with your community and the causes that matter most to you. When individuals strive for something bigger than themselves it builds self-worth and creates senior leaders and advocates who make invaluable contributions to their surrounding communities.

All of us can deeply improve our quality of life by volunteering. Studies have shown that volunteerism can contribute to living longer and that it improves overall brain function. All ages benefit from this approach, not to mention active volunteering can be a great exercise too! So, it turns out that volunteering is not only the socially responsible thing to do, but it’s actually mentally and physically good for you, not to mention it’s great for your community as well.

So what’s stopping you now? Get out there and make a difference today!

Article Provided by:
David Haack
Living Care Lifestyles
425-689-5694
www.QuailParkOfLynnwood.com

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Purses & keys

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I retain vivid memories of my visits to Ohio to discuss mother’s care levels and needs with my older sister, where one of the challenges involved keys.

As I was fumbling for my keys to unlock the door I thought about my mother. I retain vivid memories of my visits to Ohio to discuss mother’s care levels and needs with my older sister, where one of the challenges involved keys. One specific issue – car keys – is no surprise. Keys now have a habit of triggering these reflections.

There are lots of things that bring back memories of mother. I often chuckle at her sayings depending on the situation. Her little lines would pop out predictably and automatically but we never got tired of hearing them. At the mention of the word wait, she would say “Weights what broke the wagon down.” If we were trying to find something and she would spot it in front of us, out would come, “If it were a snake it’d bite you.”  She had so many more. These were common sayings among her generation, the ones who were born in the first part of the last century and spent a lot of time on front porches and around kitchen tables.

I sometimes get angry with myself for the earlier days when I didn’t have a full appreciation of the stories. There were times when I would hear a little inner voice saying “Here it comes again” as the situation and the opening lines would provide a clear signal for the story that was about to be told. I was foolish of course, reacting solely to the lines being spoken out loud rather than listening for the deeper meaning that was coming from their hearts. This was  “oral tradition” being presented right before my very eyes. They were preserving our family culture.

Mother loved to drive. It was her primary means to assert her independence. Many signs pointed out that allowing her to drive was no longer a good idea. The risks to her and everyone else on the roads were becoming too great. Getting those keys away from her was not an easy task. The simple truth is, she was not about to give up the keys. They had to be taken away with gentle but firm persuasion.

The purse was the next major piece of her personal property that had to be gently taken away. I don’t know if we actually do comprehend just how important a purse is to a woman. In time though, even the purse had to go as she had eventually lost the capacity to discern the uses for its contents and might have injured herself with some of the items. Getting the purse away was harder than the keys.  Right to the end, the one thing she would remember to do was get after my sister for “taking away my purse.”

These are the things I think about every so often when I fumble for my keys. While I can still remember which one to use for my front door, I need to also remember to tell stories. I owe this to my children. It was an invaluable gift from my parents and it is one of the most important gifts that we pass on from generation to generation.

Article Provided by:
Madison House family member
Madison House Independent & Assisted Living
425-821-8210
www.MadisonHouseKirkland.com

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Retirement choices for veterans in Puget Sound

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Many retired officers and veterans choose to live in civilian neighborhoods and housing, but when the time is right, there are many housing options available for retired veterans to consider.

The Puget Sound area is home to many retired veterans.  There are many reasons why veterans choose to retire here in the beautiful Pacific Northwest. Joint Base Lewis McChord, the temperate winters, the pristine scenery, and many advantageous tax benefits have combined to present an attractive package to retirees. Many retired officers and veterans choose to live in civilian neighborhoods and housing, but when the time is right, there are many housing options available for retired veterans to consider.

Many retired veterans choose to reside at civilian retirement communities and assisted living and memory care communities. There are many wonderful options in the Puget Sound area and depending on the specific needs of each veteran these can be wonderful choices.  Civilian assisted living and memory
care communities are not affiliated with the VA.

Some veterans choose a retirement community that specializes in serving the retired military community.  Residents may enjoy the camaraderie of their fellow veterans along with added benefits such as close associations with military bases and VA hospitals and veteran-focused transportation and activity programs.

For veterans who need a higher level of care, many community Nursing Homes offer Veterans a place to live
and receive skilled nursing care 24/7. The Department of Veterans Affairs (VA) contracts with nursing homes across the country to care for Veterans. Other services include onsite occupational and physical therapy, access to social services, short-term rehab, and dementia care. The VA will often pay for Nursing Home care if you meet eligibility criteria involving your service connected status, level of disability, age, and income.

Certain VA benefit programs such as “Aid and Attendance” will also pay for assisted living services and memory care services depending on eligibility.

VA benefits can be extraordinarily complex, so consider speaking with a Veteran Services Officer (VSO). Veteran Services Officers volunteer throughout the United States, frequently at hubs for veterans like American Legion halls or Veteran of Foreign Wars (VFW) lodges. You can also locate a VA accredited attorney or VSO/Benefits representative here: http://www.va.gov/ogc/apps/accreditation/

As a veteran, you have a unique story and it makes a lot of sense to speak with a knowledgeable advisor, take a tour of your local communities and resources for retired military personnel, and plan ahead to make sure that your retirement is everything that you want it to be.

Article Provided by:
Susan Fine, Director of Marketing
Patriot’s Landing Retirement Community
877-964-4900
www.PatriotsLanding.com

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CCRCs are now called “Life Plan Communities”

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It’s no surprise they’re revolutionizing (CCRCs) retirement and reinventing themselves and the senior living field.

Since they were teens, the boomers have done things differently. So it’s no surprise they’re revolutionizing retirement (CCRCs) and reinventing themselves and the senior living field. To meet the needs of this generation senior living communities have transformed from care providers into vibrant villages offering a range of residential options along with new opportunities for creative, educational and personal exploration. Clearly, the name Continuing Care Retirement Community no longer describes the vibrant, forward-looking nature of the contemporary senior living community, which is really
a Life Plan Community.

On November 1, 2015, at the LeadingAge Annual Meeting in Boston, the task force that led the initiative to develop a new category name for Continuing Care Retirement Community (“CCRC”) announced its recommendation that communities adopt the term “Life Plan Community” as the new descriptor.

For many years a significant number of CCRCs have been concerned that the very category name used to describe them actually limits consumer interest. In particular, the terms “continuing care” and “retirement” were perceived to have negative connotations among potential residents leaving them with the impression that communities were only for people that need care and thus are for older, less healthy people. The potential truth of this is evidenced by the continuing increase in the average age of people moving to CCRCs over the last decade. Many communities and organizations have stopped referring to themselves as Continuing Care Retirement Communities altogether, developing their own alternative wording to describe the lifestyle benefits their communities offer.

The goal was to develop a name and compelling messaging to engage those older adults who will be seeking services during the next decade and to encourage prospects to enter CCRCs at a younger age. The name change from CCRC to Life Plan Community switches the emphasis from passive care to active living and planning—a shift that appeals to younger, healthier senior adults.

The agencies and research firms serving on the NameStorm Task Force worked closely together for two years to explore the viability of the existing category name (Continuing Care Retirement Community or CCRC) among key audiences and to generate and evaluate alternative names. The process involved more than 4,350 consumers and over a hundred CCRC operators. The same rigor was applied to the vetting process and to trademark and legal analysis which culminated with the selection of Life Plan Community as the new category name.

Article Provided by:
LeadingAge
www.LifePlanCommunity.org

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Why work with an Eldercare Consultant?

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The right eldercare consultant can educate, guide, protect, and simplify your search providing you with the right options for you.

Would you go to court without an attorney? Into surgery without a good surgeon? Purchase a home without a realtor?  Exploring the vast world of long term care and senior housing options can be equally overwhelming. The right eldercare consultant can educate, guide, protect, and simplify your search providing you with the right options for you or your loved one’s unique needs.

In Washington State, eldercare consultants may be called by many names: Eldercare Consultant, Senior Advisor, Referral Agent, and Placement Agent are a few. Reputable agents understand their responsibilities and legal requirements under Washington State’s Elder and Vulnerable Adult Referral Agency Act RCW 18.330.

A qualified eldercare consultant can answer questions such as:

  • What’s the difference between an assisted living and an adult family home?
  • What types of rehabilitation services are available? What does “short-term rehab” mean?
  • What is “respite”?
  • What types of care and how much care can be provided at home?
  • What is the difference between Medicare and Medicaid?
  • What options will your long term care insurance policy cover?
  • What happens at the end of a hospitalization or rehab stay when discharge is imminent?
  • What resources are available to pay for services? Who is going to pay for what?
  • When choosing an eldercare consultant the following should be taken into consideration:
  • Are they local or part of a larger company? Do they work alone or are they part of a team?
  • What is their background?  How many years have they been working with families in long term care? Do they have related certifications or degrees?
  • How are they paid? Do they charge an hourly rate or more typically, are they free to seniors and their families as they are paid a referral fee from care providers?
  • How many care providers/properties are they contracted with?
  • Have they personally toured the properties they refer to? Can they tell you if the properties have any enforcement actions?

A professional eldercare consultant will answer your questions regarding costs and explain how care is paid for as well as what type of financial resources may be available. They will guide you through the clinical process from hospitalization and a stay in a rehabilitation facility, and advocate for your loved one’s personal preferences and desires. They will narrow your search from potentially hundreds of care options to those that make the most sense for your personal situation.

Article Provided by:
Graham & Graham Eldercare Consultants LLC
888-217-1655
www.GrahamandGrahamEC.com

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