For many, investing in a long term care (LTC) insurance policy can provide some peace of mind for the Golden Years. “Be prepared” as the boy scouts teach. Yet, when it comes time to utilizing such a policy, that peace of mind sometimes turns into frustration and contempt for the insurance company that was trusted to pay out when needed.

Over the years I have witnessed several of my clients endure the skillful attempts of their insurance companies to avoid paying out on legitimate claims. They seem to be especially good at continually “losing the paperwork” and repeatedly asking both the insured and their home care company to “resubmit” with the strategy of delaying the claim as much as possible. In some cases, I truly believe that they were hopeful that their tactics would ultimately “wear their insured down” and they would just go away.

Now, I am not saying this is true with all LTC insurance companies. Just like any industry, there are good ones and less-than-good ones. It behooves one to do one’s homework on any company that one is considering to purchase a long term care policy. A good LTC insurance policy, with a reputable insurance company, can truly provide peace of mind for the future. On the other hand, as we all grow older, the last thing we want to do is to go to battle with our insurance carrier. And unfortunately, most times they win.

Caveat emptor.

For other blogs on this subject click here: Long Term Care and scroll down.

Tom Barton

Owner, Barton Home Care

Long Term Care Health Insurance May Be Worth a Look

There are a number of interpretations by various studies of how long we may be expected to live. A team of Harvard researchers conducted a 21-year study (1980-2001) and considered factors like disease, income, access to health care and geographic area. Based on this study they came up with “8” Americas.

“America One,” comprised of about 10 million Asians, has an average life expectancy of 85. “America Two,” consists of approximately 3½ million low-income whites who live predominantly in the Dakotas, Iowa, Montana, Minnesota and Nebraska. This lower than normal income group lives an average of 79 years and demonstrates the best level of health among whites. The majority of the population, about 214 million, has a life expectancy of 78 and makes up “America Three” while “America Four” consists of poor whites in Appalachia and the Mississippi Valley whose life expectancy is 75. “America Five, or Western Native Americans, live to an average of 73 as do “American Six” which is categorized as black-middle America. Making up “America Seven and Eight,” both with a life expectancy of 71, are low-income Southern rural blacks and high-risk urban blacks.

Another look at longevity, this time on a global level, is one calculated by the World Health Organization called HALEs (Healthy Life Expectancy). This is the average number of years a newborn can expect to live in “full health.” It’s a complicated calculation made by demographers and statisticians to adjust life expectancy to reflect how much of that time will be spent in poor health. Consider these contrasting numbers: a male in Afghanistan has a HALE of 35 years, but a life expectancy of 42 years while a male in the United States has a HALE of 67 years and a life expectancy of 75. Similar contrasts exist for females. A female in Afghanistan has a HALE of 36 with a life expectancy of 42 while a female in the United States has a HALE of 71 with a life expectancy of 80.

A more general overview is provided by the Center of Disease Control for Health Statistics. Their computations show that a child born in the United States in 2005 can expect to live 77.9 years, up from 77.8 in 2004 and continuing a rise dating back decades. U.S. life expectancy was 75.8 years in 1995 and 69.6 years in 1955.

The United States, a country of 300 million people, ranks 42nd in the world in life expectancy. One basic conclusion that can be drawn from all these studies is that we are living longer and need to make appropriate provisions for that prolonged existence. Long term care health insurance is one option to consider in preparing for one’s future.

Gerri Tyber
Operations Manager, Barton Home Care

Unparalleled increases in the size of the elderly population as the baby boom generation ages will necessitate an increase in the need for long-term health care. The majority of long-term care will be provided informally by unpaid family members and friends who undoubtedly will need occasional respite from their caregiving. Others, who live alone and/or have no living children, will have to rely on formal long-term care providers such as certified nursing assistants and home care or personal care workers.

Advancing age naturally increases functional disability. While most elderly people are not disabled, the likelihood of their needing some level of long-term care increases with age. Women are more likely to need care because they live longer and have higher rates of disability than men. Most people, however, will need some long-term care during their lives whether it is intermittently or permanently to help maintain their independence and allow them to continue to be able to live in their own homes.

The physical design of homes is likely to become more important as baby boomers age. Ramps rather than steps, grab bars in bathrooms, and door handles that accommodate arthritic fingers can facilitate people aging in place and will surely be addressed by housing developers. Technological advances, ranging from telemedicine, which is the use of medical information exchanged from one site to another via electronic communications in order to improve patient care, or the use of robots to perform personal care functions and play games like dominoes and chess, may enhance the ability of elders with disabilities to remain independent in their own homes. A firm called Xanboo in New York is using networks of cameras and sensors to help people monitor relatives with dementia. It enables them to remotely switch off an overflowing bath or adjust the central heating system—another way of make aging in place possible.

For more information on long-term care in Denver, call 303.660.5120.

Gerri Tyber, Operations Manager
Barton Home Care