Botox Effective in Treating Incontinence in Women (VIDEO)

Fifth of Nursing Aides Charged with Abuse Had Priors

According to the Office of the Inspector general, almost a fifth of nursing aides charged with abuse and neglect had prior convictions.

Nineteen percent of long-term care nursing aides who were found guilty of on-the-job abuse, neglect, or property theft in 2010 had prior criminal convictions. Overall, the 300 nurse aides with criminal convictions before their substantiated findings had a total of 622 convictions. The number of convictions per nurse aide ranged from 1 to 14, averaging 2.1 convictions per nurse aide.

An Affordable Care Act (ACA)-mandated analysis of skilled nursing facility background checks for nursing aides found that, out of the 1,611 nursing aides charged with abuse, neglect, or property theft in 2010, 300 had at least one prior criminal convictions, according to a report released by the Department of Health and Human Services Office of Inspector.

The most common prior conviction (53%) was for crimes such as burglary, shoplifting and writing bad checks. Additionally, “nurse aides with substantiated findings of either abuse or neglect were 3.2 times more likely to have a conviction of crime against persons than nurse aides with substantiated findings of misappropriation,” the report stated.

The ACA establishes requirements for the background check programs that participating States must implement. States are required to conduct three types of background checks: (1) a search of any State-based abuse and neglect registries and databases, and the abuse and neglect registries of all known States in which the employee lived; (2) a check of State criminal history records; and (3) a fingerprint-based FBI criminal history records check.

The most important point for readers is to ask a prospective facility if they conduct background checks and how those backgrounds checks are conducted.

Botox Effective in Treating Incontinence in Women

Researchers at Loyola University, Chicago conducted a study that shows that Botox injections and oral medications both work well in reducing urinary incontinence in women, though Botox is more likely to completely resolve symptoms.

They studied a group of 241 women with urinary urgency incontinence for six months. The women were split into two groups — one group was treated with a daily oral medication while women in the other group underwent one injection of Botox to the bladder plus a daily oral placebo pill.

The average reduction in the frequency of urgency incontinence episodes for women taking the oral medication was 3.4 episodes per day. For women who were given Botox, the average reduction was 3.3. The proportion of women with complete resolution of urgency incontinence was 13% with medications and 27% with Botox.

The study was published in the The New England Journal of Medicine.

Of course I am restraining from the Botox comparisons and what it is usually reserved for in medicine. I will leave that to you. Have a great weekend.

Retiring on Your Resolution List? Here Are Five Retirement Expenses You Must Know (VIDEO)

Home Safety Tips As You Visit Elders This Season (VIDEO)

Retiring on Your Resolution List? Here Are Five Retirement Expenses You Must Know

Maybe one of your 2013 resolutions is to retire. Rescue Alert of California contributes this guest blog to help you.

Everyone wants to be prepared for retirement when the time comes. Saving when you’re younger can help put you on the path to independence once your working days have ended. Learning how to prepare for retirement can be difficult, though. There are many retirement expenses that pop up that many people may overlook, or may not even know about. The 5 retirement expenses listed below are some of the most common ones that people do not account for when they’re saving. This list is courtesy of David Ning, a financial planner and owner of MoneyNing.

Even Retirees Have Bills

• Account for Inflation - Inevitably, inflation will affect some of your purchasing power, as things become more expensive. It is important to remember, though, that not everything inflates at the same rate. Keep an eye on how prices change so that you are not worrying over inflation that won’t happen.
• Some Expenses Are Temporary - Especially when discussing things like mortgages, these are debts that will eventually disappear. Make sure you have enough to cover these costs, but remember that you won’t be paying them forever.
• Taxes Still Exist – Even after retiring, taxes will still be a part of your life. Things like Social Security, IRA & 401(k) withdrawals, and pensions are all taxable at different rates. This is probably the most important expense to remember, as these taxes can be some of the largest expenses you’ll incur.
• Expect the Unexpected - Miscellaneous expenses won’t go away just because you’ve paid off your house or your car. Being able to cover maintenance or repair costs is extremely important, especially after you retire. For seniors, also, comes the risk of medical conditions and medication. Having some money stashed away for emergencies can be a tremendous relief for you and your family.
• Paying for That New Hobby - With more free time on your hands, you may find yourself wanting to pick up a new hobby, or activity to occupy that time. Depending on what it is, it may require new equipment or tools that need to be accounted for in your savings. Covering the costs of these new items will allow you to enjoy your new lifestyle even more.

Retirement is a time for people to enjoy the things they love, and be with the people they love. Preparing for retirement can lessen the stress of this time, and can help you live comfortably in the way you want. These 5 retirement expenses must be accounted for in order to avoid any surprises later in life.

To read the full article, please follow this link: Yahoo! Finance

Rescue Alert of California™ has been enabling senior citizens to live safe, happy and independent lives through education and quality medical alert devices for over a decade. It is dedicated to being a resource to seniors and caregivers alike, and prides itself on offering information through the Rescue Alert of California™ blog to help in many facets of senior and caregiver lives.

The Big Role of Grandparents (VIDEO)

Home Safety Tips As You Visit Elders This Season

As you visit loved ones this holiday season and as you make your resolution and to-do list for 2013, consider this guest blog from Rescue Alert of California.

The growing popularity of medical alert systems goes hand-in-hand with the increasing numbers of seniors who receive in-home care. However, living in your own home independently—despite the regular appointed visits of a professional caregiver and a monthly subscription to a personal emergency alert—would not absolutely guarantee your safety. It is important, therefore, to stay proactive about the whole safety issue by checking your home and identifying which parts or areas pose some kind of threat.
1. Have a fire extinguisher and a smoke detector on every floor of your home. If you live alone, it is significantly helpful to be able to detect smoke or fire as early as possible—without a proper smoke detector, you might only notice a fire when it has become already uncontrollable. The fire extinguisher, of course, allows you to control a fire at its nascent stage, or at least gives you an escape route during a fire in progress.
2. Install a carbon monoxide detector. Carbon monoxide is an odorless, colorless gas, and it’s quite deadly in elevated concentrations. When inhaled, this gas can cause people to get sleepy, which seniors can mistake to be normal. This gas kills, and having a detector allows you to sense its presence early.
3. Always wear shoes that properly fit and are comfortable to wear, especially those with low heels. Wearing properly fitting shoes means you will be able to move around in your home without the risk of stumbling or falling, not to mention the comfort.
4. Use only a walking aid that is specifically measured for your height. A walking aid that is too high or too low for you is next to useless—it can even cause undue stress on your back and other related joints and muscles and might cause some damage. There are also special types of walking aids that doubly functions as some sort of “grabber,” which can be handy for those hard-to-reach areas, such as the top-most kitchen shelves.
5. Make sure that your home has good lighting. Seniors with vision problems are at a high risk for accidental falls. Good lighting, especially along hallways, near the staircase or the staircase landing, in the bathroom, or in the garage can reduce this risk. Use at least 100-watt bulbs or their fluorescent equivalent.
6. Remove scatter rugs—they are a hazard. But if you can’t, at least make sure to tack down their edges. Such rugs can easily trip anyone. If you’re living alone, you don’t need them.
7. Staircases should have a non-slip surface, especially the steps. The staircase is perhaps one of the most hazardous parts of a house, especially for seniors with increasing physical limitations. Make sure that every step of the staircase is covered with a non-slip surface—there are many options for this at your local hardware or home furniture store. The staircase landing and the surrounding floor area should also be non-slip.
8. Always leave a light in your bathroom at night. Just in case you need to go to the bathroom in the middle of the night, a lit bathroom reduces your risk of accidental falls or bumping into furniture.
9. As much as possible, take a bath only when there is someone else with you in the house, such as a family member or your in-home caregiver. Accidental slippage or falls in the bathroom are a major concern among seniors and are a leading cause of death.
10. Explore how medical alert systems can complement your current in-home care setup. A medical alert can provide a protective coverage during those hours when your caregiver is not around. If some medical emergency arises, you can call for help at a simple press of the button. The monthly service fee, which ranges from $15 to $30, already includes 24-hour, seven-days-a-week monitoring. You can even choose related add-ons and accessories depending on your medical situation, such as automatic fall detection, automatic medicine reminders or dispensers.
These home safety tips for seniors are by no means the only useful reminders to make sure that your home is absolutely safe for seniors, but they are definitely among the first ones you should prioritize. Aside from these 10 tips, explore and analyze your home situation and make the necessary modifications. 

Rescue Alert of California™ has been enabling senior citizens to live safe, happy and independent lives through education and quality medical alert devices for over a decade. It is dedicated to being a resource to seniors and caregivers alike, and prides itself on offering information through the Rescue Alert of California™ blog to help in many facets of senior and caregiver lives.

The Big Role of Grandparents

A New Met Life Life Study, conducted in partnership with Generations United entitled Grandparents Investing in Grandchildren: The MetLife Study on How Grandparents Share Their Time, Values, and Money, provides a hint of the contributions grandparents make to the lives of their grandchildren in passing down important values as well as providing care and financial assistance.

·       Two in 10 grandparents say they are living in a multi-generational household; 30%
   of those households include grandchildren.

·       Just over one in 10 grandparents (13%) provides care on a regular basis for at least
   one grandchild. Of those, 32% are providing care five or more days per week.

·       Topping the list of very important values grandparents wish to pass down are
   honesty (88%), good behavior (82%), self-sufficiency (70%), higher education
   (69%), and good health habits (68%).

·       The majority (62%) of grandparents have provided financial support or monetary
   gifts for grandchildren within the past five years. The total average amount provided
   over the past five years among this group for all grandchildren was $8,289 total,
   with more than half having given up to $5,000.

In a companion publication, Grandparents Investing in Grandchildren, Actions Speak Louder Than Words, they outline ways grandparents can guide and help their grandchildren. Here are the highlights. Get the publication for the details.

·       Model and Teach the Values You Believe in the Most

·       Teach Your Grandchildren to Make a Difference by Giving of Time and Money

·       Discuss How Every Vote Counts

·       Explore Your Culture, Your Heritage

·       Celebrate Family

·       Record an Audio/Video Message

·       Create a Family Tree

·       Start Cooking

·       Preserve History for the Future

·       Invest in Your Grandchildren’s Financial Security

·       Foster Early Saving Habits

·       Encourage Smart Spending

·       Make Grand Investments

Positive Thinking Can Promote Healing

The following is a guest blog by Melanie Bowen.

Maintaining a positive outlook can play an important role in helping to live a happier, healthier and longer life.  That is particularly important if you are facing a serious illness such as a cancer diagnosis.

As people age, it often takes more effort to engage in physical and/or social activities.  Yet those who participate in physical activities are not only supporting good physical health, but also good mental health as well.  

Additionally, when people join group activities, they build important social relationships that help them to feel connected and happier.  Engaging in desired activities with others and staying active into the later years is an important part of aging well and staying healthy.

People who have active minds and a positive outlook tend to live longer.  Some people are just naturally more optimistic while others have to work harder to respond positively to situations.  

Finding the positive in life situations can go a long way to support health and wellness.  Even in the face of illness, positive thinking can have a significant effect on the body.  

While nothing can fully prepare someone for a medical diagnosis such as cancer, working to stay positive is very important while undergoing treatment. Even with a diagnosis of mesothelioma, patients who try hard to maintain a positive attitude are better equipped to fight the disease. Mesothelioma is a cancer that is actually extremely prevalent in senior citizens, so when a diagnosis of a cancer like this arises in life; how is someone mentally and physically supposed to deal with such grim news?

Eating a healthy diet and getting proper exercise are an important part of aging well and combating illness and disease such as cancer.  Along with these healthy lifestyle habits, making a conscious effort to maintain a positive attitude is a significant part of healthy aging.  

Learning to have a positive mental attitude can help to maintain a healthy energy level and mood.  Thinking positively also can improve stress management and coping skills, and can increase confidence to provide the courage necessary to overcome obstacles.

 
Regardless of the situation, those who are driven to keep moving forward and strive to maintain a positive attitude will generally have the best odds when working through personal struggles including illness.  Being surrounded by vibrant people provides the support and motivation along the way.  Staying connected to others and engaging in enjoyable activities adds to a happy life through the years and helps when coping with difficult situations faced on life’s journey.

Just because you may not be able to stay active like you once were in your youthful years, don’t get discouraged. Healthy living resides truly in the mind; a healthy mind creates a healthy person.

Don’t let anything take away from your happiness, even something as alarming as cancer. As we age, one of the main things we have to look forward to is our happiness. Grow in light, positivity and hope that the future will always remain bright with love. 

Melanie joined the Mesothelioma Cancer Alliance in 2011 as an awareness advocate for natural health and cancer cure initiatives. You will often find her highlighting the great benefits of alternative nutritional, emotional, and physical treatments on those diagnosed with cancer or other serious illness. She also assists in social media outreach in my efforts to spread awareness. Contact her at melanielbowen@gmail.com. 

Two Thirds of Medicare Spent on Managing Multiple Chronic Conditions (VIDEO)

As Older Population Far Outnumber Younger Sacrifice is in Order - Will You? (VIDEO)

Caregivers Manging Multiple Chronic Conditions; NCOA Can Help

The AARP Public Policy Institute (PPI) and the United Hospital Fund (UHF) recently released a new report that finds 46 percent of family caregivers perform medical and nursing tasks for care recipients with multiple chronic physical and cognitive conditions. The report, "Home Alone: Family Caregivers Providing Complex Chronic Care," explores the complexity of tasks that caregivers provide.

The PPI and UHF report is based on a national survey of 1,677 family caregivers who were asked about the medical and nursing tasks they perform. Of the 46 percent of family caregivers performing medical and nursing tasks, three out of four provided medication management – including administering IVs and injections – for a loved one. Further, more than a third of these caregivers providing medical and nursing tasks reported doing wound care. Other tasks included operating specialized medical equipment and monitors.

Interestingly on the same day I received this notice, the National Council on Aging sent information on how to obtain assistance in managing multiple chronic conditions.

Their Center for Healthy Aging will provide technical support to 22 states that have received more than $8.5 million to educate older adults on how to live better with chronic conditions. The new federal grants will help 87,000 seniors access evidence-based self-management programs to help them manage arthritis, diabetes, chronic pain, and more.
Assistant Secretary for Aging and Administrator of the Administration for Community Living Kathy Greenlee said, “We know these programs work. These funds help empower individuals so they can take better care of themselves, feel better, and perhaps avoid extra doctor visits and trips to the emergency room.”

These grants will help more people access tailored workshops to help them manage their conditions and help states embed the programs into their public health and wellness infrastructures.

Two-thirds of Medicare spending is for beneficiaries with five or more chronic conditions.

The new grants build on the Recovery Act’s Chronic Disease Self-Management Program grants awarded in March 2010, which had an initial goal of reaching 50,000 older adults. As of August 28, 2012, 47 of those first-round states had reached 111,272 seniors.

The 22 states awarded the competitive cooperative agreements are: Alabama, Arizona, California, Colorado, Connecticut, Georgia, Kentucky, Massachusetts, Maryland, Michigan, Missouri, New Jersey, New Mexico, New York, Oklahoma, Oregon, Rhode Island, South Carolina, Utah, Virginia, Washington, and Wisconsin.

The funding will support a variety of programs, all evidence-based and licensed from the Stanford University Patient Education Research Center. The Stanford programs emphasize the individual’s role in managing their health and improving their quality of life. The grants will also support evidence-based self-management programs for people with diabetes, arthritis, HIV/AIDS, and chronic pain, including internet-based courses and programs specifically developed for Spanish-speaking adults with chronic conditions.

To learn more about the Stanford University Chronic Disease Self-Management Program, go to http://patienteducation.stanford.edu/programs/.
To find workshops, visit the NCOA Center for Healthy Aging at http://www.ncoa.org/improve-health/center-for-healthy-aging/chronic-disease-1.html.

As the holidays approach, many new caregivers will be born as typically visits home to mom and dad are when you start to notice that living conditions and health conditions might have changed, particularly if you only visit occasionally. Take a breath. And know that there are support mechanisms out there for you. 

Check out this article I wrote for about.com on family visits.

Sobering Solutions for an Aging Population

The National Research Council along with three other groups released a sobering report about aging earlier this fall.

In the coming decades, the ratio of people aged 65+ to people aged 20-64 will rise by 80%. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population.

Four practical approaches for preparing resources to support the future are presented.
 

The report notes the problem is reduced for people who have prepared for this stage of life by starting to save and accumulate assets earlier in their working lives. And Social Security, Medicare, and Medicaid also aid in support.

That said, real solutions will come with a combination of:

·       Major structural changes to Social Security, Medicare, and Medicaid.

·       Higher savings rates during working years.

·       Longer working lives.

Without this, future generations will face a larger increase in taxes and benefit reductions.

Contributing to this population growth are the usual factors:

·       Steadily Rising Longevity

·       Shifting Balance of Older and Younger Population Groups

·       The Impacts of a Changing Global Economy

In the United States, the weak economy that has followed the global financial crisis has ended many working careers prematurely. Meanwhile it also has lowered the value of many other components of household net worth, such as corporate equities and housing stock value, leaving many people ill-prepared to support themselves in retirement.
 

Four Approaches Suggested

·    Workers save more (and consume less) in order to prepare better for their retirements.

Research suggests that between one-fifth and two-thirds of the older population have under-saved for retirement. Low and lower-middle-income households accumulate few financial and pension assets for retirement. Social Security, Medicare, and Medicaid are and will be a central part of maintaining their living standards in retirement.

Financial literacy will play an increasingly important role in how well households fare in their retirement years. Households will need to decide how much more to save and how to structure their portfolios during their working years. They will need to decide when it is economically prudent to retire, taking into account personal, macroeconomic, and political uncertainties. There is substantial value in boosting financial literacy to help people prepare for these financial decisions.

·    Workers pay higher taxes (and thus consume less) in order to finance benefits for older people.

The report notes that longer and healthier lives are a great benefit and suggests that these added years of healthy life cannot all be taken as post-retirement leisure. Working longer, postponing retirement or working longer hours before retirement must be factored in because if all of the added years are taken as leisure, then consumption at all ages must be considerably reduced to pay.

·    Benefits (and thus consumption) for older people are reduced so as to bring them in line with current tax and saving rates.

About half of the U.S. workforce is covered by an employer- sponsored retirement plan. But the structure of pension plans has changed dramatically over time. Today, employer plans in the corporate sector have mostly converted to defined contribution (DC) pensions—for example, 401(k) or 403(b) plans. That shifts the burden to individuals who may have difficulty determining whether their saving is adequate for their retirement needs.

·    People work longer and retire later, raising their earnings and national output.

Raising the average age of retirement is one key alternative to reducing the consumption associated with leisure and enhancing people’s ability to stretch their assets over their lifetimes. The average retirement age for men declined substantially in the U.S. throughout most of the 20th century. Although this trend stopped in the early 1990s and then reversed, men still retire at a much younger age than in the past, despite their better health and much longer lives. Women’s average age at retirement has moved parallel to men over recent decades.

The report concludes that there is little doubt that there will need to be major changes in the structure of federal programs. The transition to sustainable policies will be smoother and less costly if steps are taken sooner rather than later. 

And the sooner than later lament is what we have tried to preach here. Preparing for aging is a sooner than later act. Whether saving for it or physically preparing for it or emotionally coming to grips with it, it is within each of own abilities and desires to make aging the wonderful thing that it should be not the crisis it is turning out to be for many.

Four Fast Ways to Feel More Youthful As You Age (VIDEO)

Four Fast Ways to Feel More Youthful As you Age

The following is a guest post from Leslie Johnson.You may not be able to turn back the hands of time, but just because you're skin isn't as supple as it used to be doesn't mean that you can't feel youthful at heart. In fact, research shows that the younger you feel in the inside, the more likely you are to fight off the chances of developing dementia. There are a lot of different things you can do to keep you in a young state-of-mind.

1. Mingle with People Who are Younger than You
   
   Exclusively surrounding yourself with nothing but fellow seniors is one of the easiest ways to feel your age. Actually putting in some effort to make sure you're surrounded with a good mix of "younger people" however—even those who are in their teens—can help bring out a more youthful spirit inside of you. After all, people tend to mimic traits from people they surround themselves with on a regular basis. Going to the gym and enrolling in fun aerobic classes like Zumba can put you in contact with the right mix of people, so can taking a cruise, enrolling in a Meet Up Group in your city, or joining a community sports team like golf or bowling.
2. Get Out and About
   
   Keeping yourself locked up in your apartment and isolated from the rest of the world can also hinder you from feeling young. Going out to explore the outdoors —including nature and your city—on the other hand can keep you feeling young. Go check out the new museum that opened up. Go indulge and dine at the new restaurant. Attend birthday gatherings. Go the movie theater. Attend a sporting event. Get out.
    
3. Get on Board with Social Media & Stay "Current"
   
   In order to feel young, you also need to try your best to stay current with news and pop culture. It's fun to reminisce and watch/listen to older music and movies that remind you of "the good old days" but don't get consumed in a time warp. You need to be highly aware of what's going on right in front of you. This can be easily learned by reading the daily news, watching some basic prime time channels, and listening to a modern radio station every now and then. You don’t necessarily have to be a fan of teen sensation Justin Beiber for example, but you at least want to know who he is and be aware of mainstream media and culture. This may even mean getting yourself a Facebook account.  In fact a study said that Facebook could help relieve depression among seniors since it helps keeps them in touch with old friends and family.
    
4. Exercise and Eat Healthy
   
   Lastly and most importantly, the true key to feeling healthy is to take care of your current body by feeding it the right nutritious foods and get some sort of exercise in your life daily, even if it's something as minor as gardening, walking the dog, or doing some minor stretches when you wake up in the morning.

Leslie Johnson is a resident blogger at www.mastersinhealthcare.com, a website that helps students find both programs and careers in the healthcare industry. She enjoys covering all health-related topics for a broad range of consumers and welcomes your comments below.

Alzheimer's Action Day Guide (VIDEO)

Complete Guide to Senior Finances

The folks at Assisted Living Today have posted a very comprehensive overview of senior finance issues.

Sections in The Ultimate Guide to Senior Finance include: 1. Benefits and Social Security
2. Budgeting and Saving
3. Consumer Protection
4. Health Care Costs
5. Different Types of Insurances
6. Taxes and Tax Planning
7. Mortgage Strategies
8. Wills and Trusts
9. Other Financial Resources

Well worth a look.  

Alzheimer's Resources from Assisted Living Today

To help raise awareness of the significant impacts Alzheimer’s disease has on families and loved ones, Assisted Living Today put together the Alzheimer’s Action Day Guide, a comprehensive resource covering the latest research, treatments, fact and figures, as well as informative tips for caregivers.
The Guide contains:
The Caregiver’s Guide to Alzheimer’s Disease

They interviewed a panel of 20 leading memory care experts. Each expert answered three pertinent questions related to caregiving for a loved one with Alzheimer’s:

• Advice for Alzheimer’s Caregivers
• Techniques for Treating Alzheimer’s Patients
• Key Questions to Ask About Alzheimer’s

Other topics covered on the site include:

• Dementia vs. Alzheimer’s: Are They the Same Thing? 
• 5 Signs of Alzheimer’s Disease You May Not Be Aware Of 
• 10 Common Memory Loss Causes 
• The Eye Test – Alzheimer’s Disease Detection at The Most Crucial Point 
• Top 5 Dementia Medications for Seniors 
• 5 Non-Medical Alzheimer’s Treatments That Work 
• Dementia with Lewy Bodies (DLBs) – how it differs from Traditional Dementia in the Elderly 
• Interview with Carol Steinberg of AFA Teens - AFA Teens is a national organization with the goal of engaging teenagers in the fight against Alzheimer’s. 
• Interview with Tommy Whitelaw on Caring for Loved Ones with Dementia - Tommy Whitelaw is publisher of Tommy on Tour, a short movie and blog chronicling Tommy’s journey to bring awareness to dementia and the challenges of caregiving for this population. 
• Ideal Living Settings for Alzheimer’s Patients 
• Memory Care

Long-Term Care Insurance May Be a Dying Breed (VIDEO)

Long-Term Care Insurance May Be a Dying Breed

A report earlier this fall by Moody’s Investors Services - “Long-Term Care Insurance: Sector Profile” - says that despite the need for long-term care insurance, the product’s future is in question because of persistent losses and a challenging operating environment.

The benefits under early policies were often too generous relative to factors such as actual benefit utilization rates and lapses, according to Moody’s. To compensate insurers had to increase reserves and raise rates to improve the profitability of older products.

New, better designed and priced products seek to reduce risks for insurers, with changes including more restricted benefits and payout periods, as well as “combination” policies, which offer long-term care combined with a life insurance policy or an annuity contract.

Nevertheless, Moody’s believes potential buyers may balk at fewer benefits and higher rates, and sales could go down noting that senior citizens on fixed incomes form a highly sensitive constituency and regulators could therefore reject or limit new rate requests.
 
The exit or retreat of five key firms from the market since 2010 leaves only one dominant player.
MetLife and CUNA Mutual stopped selling LTC in 2010. In 2011, CNA and Berkshire pulled out. This year Prudential stopped selling individual to focus on group sales, while Unum stopped selling group but had previously pulled out of individual sales.

Since the CLASS Act died, there are still few solutions to funding long-term care. Remember Medicare only pays for this in certain situations. Your choices are limited. 

• Buy an expensive long-term care policy.
• Investigate the assurance benefit, in short, using your life insurance to pay for long-term care needs.
• Do effective, ethical and legal estate planning.
• Pay for long-term care out of pocket until you exhaust resources and then hope to qualify for Medicaid.

None of these are sure bets. With block grants in states, there is no assurance that Medicaid will be able to continue funding long-term care. And who knows what will happen with Medicare. 

And remember, Medicare, Medicaid might be used for skilled nursing. Assisted living by and large is self-pay until you can't. Medicaid factors in at times but not usually.

If you are smart plan to age in place. Which means plan to start looking at your house and what you need to do to it now to make it safe for living as you age. With more services moving to community settings, you will be able to access the care and transportation you need as well as find the social interaction that is vital to a quality of life at any age. And with tele-health options increasing, your health care will be increasingly monitored from home.

People are fixated and rightly so on assuring everyone has health insurance for medical needs. This in no way covers your needs as you age. That is swept under the rug.

Prepare people.

Sources: Moody’s, Broker World

Hold Back on Those Christmas Gifts. You'll Need the $ for Retirement (VIDEO)

Hold Back on Those Christmas Gifts. You'll Need the $ for Retirement

Aon Hewitt’s Real Deal studied the retirement resources and needs for 2.2 million employees of 78 large US employers. The study projects employees’ retirement resources and needs assuming their current behaviors continue.

The study focuses on full-career contributing employees as the baseline. For this purpose, “full career” was defined as an employee with the potential to work 30 years or more with their current employer prior to retirement.

The study projects that the employees who currently contribute to their employers’ savings plans and who retire at age 65 after a full career will, on average, accumulate retirement resources of 8.8 times their pay. They need more, 20% more.

Consider that:

• 11.0 times pay: An average full-career contributing employee needs this much at age 65, after Social Security, to expect to have sufficient assets to get through retirement.
• 2.2 times pay shortfall: An average full-career contributing employee is expected to have 8.8 times pay in resources at retirement, leaving this shortfall.

Full-career employees represent only about half of the total Real Deal population. Projections for the other half of the study employees, including mid-career hires and those not currently contributing to their defined contribution plans, reveal significantly worse results.

When analyzing all employees in the Real Deal study, the average shortfall increases to 5.3 times pay. Only about 15% of all 2.2 million employees in the study have positioned themselves to have sufficient resources to meet their needs if they retire at age 65.

Results for the general U.S. population would likely reveal even larger retirement income shortfalls, compared to the results of this study. The Real Deal study uses data from large employers who generally provide larger retirement benefits and more robust employee communication about the need for retirement savings than smaller employers.

Will let this speak for itself.