Free News Articles, General Editorial, Insurance, Long Term Care

Be Alert for a Job Offer You Can’t Refuse: ‘Unpaid Caregiver,’ Warns Long-Term Care Leader ACSIA Partners

KIRKLAND, Wash. -- "America faces a senior health crisis that is also an employment crisis," says Denise Gott, CEO of ACSIA Partners, one of the nation's largest long-term care insurance agencies.

In most U.S. households an out-of-the-blue "job offer" will suddenly appear.
* Urgently needed: caregiver.
* Duties: look after an aging family member 24/7.
* Pay: zero.

"This can be disruptive," says Gott, "but with good planning, it needn't be."

The demand for senior caregiving is huge. About 70% of those over 65 will need help with the activities of daily living at some point, according to the U.S. Department of Health and Human Services. "These activities are basic tasks we normally take for granted," says Gott. "Things like eating, moving around, bathing, and toileting."

In families with two or more seniors, the odds approach 100% that at least one will need caregiving services sooner or later. That creates millions of caregiving "jobs." Most go to unpaid family members or friends, and their ranks are legion.

According to the Bureau of Labor Statistics, over 40 million unpaid caregivers currently look after adults ages 65 and older. That's more than a quarter of the entire U.S. workforce. And new caregivers enter the ranks every year.

When these services are extensive, the toll on the caregiver can be great. According to a 2015 report from the National Alliance for Caregiving and AARP, heavy-duty caregivers (who often perform medical or nursing tasks without preparation) reported negative effects. A majority, 63%, said the intense caregiving made their own health worse.

"And when full-time caregiving also leads to quitting your job or reducing your work hours," says Gott, "financial stresses make matters worse."

When volunteer caregiving is more limited, it can be a different story. "The extent of caregiving seems key," observes Gott. "It would appear that some caregiving is OK and even enriching." She points to a Pew Research study revealing that most caregivers found caring for an older loved one rewarding.

"The right balance is vital," says Gott. "Supplying some care personally, and hiring professionals to supply the rest."

Appropriate services for family members include companionship; emotional support; handling paperwork such as paying bills; and assisting with some, but not all, activities of daily living.

Appropriate services for professionals include monitoring the loved-one during working hours; helping with activities of daily living when family cannot be present; and any assistance requiring medical or nursing skill.

To be in a position to pay for professional caregiving, Gott's organization recommends five options:
* Long-term care insurance
* Critical illness insurance
* Life insurance (with LTC rider)
* An annuity (with LTC rider)
* Savings, such as a tax-advantaged Health Savings Account.

"Our advisors are glad to walk anyone through these options, in person or by phone," says Gott.

About ACSIA Partners:

ACSIA Partners LLC -- https://www.acsiapartners.com/ -- is one of America's largest and most experienced long-term care insurance agencies serving all states. The company is also a co-founder and sponsor of the "3in4 Need More" campaign, which encourages Americans to form a long-term care plan.

This news story was published by the Neotrope® News Network - all rights reserved.

Free News Articles, Insurance, Real Estate

Uninsured Long-Term Care Is ‘Eating’ Real Estate by the Square Foot, ACSIA Partners LLC Reports

-- The cost of care for aging Americans may be viewed as a glutton that devours homes in daily bites that are getting bigger. So says Denise Gott, CEO of ACSIA Partners, one of America's largest long-term care insurance agencies.

"Eleven years ago we started translating long-term care costs into square feet of real estate," says Gott. "We did this to highlight the financial burden of paying for care."

In July of 2005 the company calculated that the cost for a private room in a nursing home was "eating" two square feet of the average American home each day. Now the bites are 29 percent bigger, 2.6 square feet, according to Gott.

ACSIA Partners developed the estimate based on the following facts:

The national average annual cost for a private room in a nursing home is now $92,376, according to the Genworth 2016 Cost of Care Survey, conducted by CareScout(r). That's about $253 a day, up from $192 in 2005.

The National Association of Realtors(r) reports that the median price for U.S. homes is now $240,200. With a median 2,476 square feet per home, according to the U.S. Census Bureau, that equals $97 per square foot, enough to pay for about a third of a day of nursing home care. In 2005, each square foot paid for about half a day, according to Gott.

The ratios vary by region and home type, of course. Here are some examples:
* 4,000 square-foot home in San Francisco, Calif., $1,800,000: 0.56 square feet eaten by one day of long-term care
* 1,902 square-foot home in Cleveland, Ohio, $150,000: 3.21 square feet eaten by one day of long-term care
* 1,328 square-foot home in Jamestown, N.Y., $65,000: 5.17 square feet eaten by one day of long-term care

Note that the less a home is worth, the bigger the relative LTC bite may be. For example, consider a 1,532 square-foot home for sale at $15,000 in Trenton, N.J. It would be "eaten" at the rate of 25.85 square feet a day. Note also that these estimates are very general. For example, in areas where homes cost more, the cost for LTC services may also be higher.

"If you're not protected by insurance or savings," says Gott, "figure that for every day someone in your family needs care, there goes another chunk of your home."

In fact, many Americans may be planning, by default, to pay for care with their home equity, Gott observes. "That's fine if it's a conscious choice and the best option in their case. We recommend, however, that they explore other options just to be sure."

The options recommended by Gott's organization include long-term care insurance, critical illness insurance, life insurance or annuities with long-term care riders, and other solutions ranging from health savings accounts to Medicare supplement plans.

Information is available at https://www.acsiapartners.com/quote/.

ACSIA Partners LLC -- https://www.acsiapartners.com -- serves organizations as well as families. The company is also a co-founder and sponsor of the "3in4 Need More" campaign -- http://www.3in4needmore.com/ -- which encourages Americans to form a long-term care plan.

This news story was published by the Neotrope® News Network - all rights reserved.

Free News Articles, Insurance, Long Term Care

When Long-Term Care Insurance Benefits Run Out, What Next? A Trending ‘Partnership’ System Offers a Fix, ACSIA Partners Reports

KIRKLAND, Wash. -- A relatively new species of long-term care policies called Partnership Plans has become widely available and could be a good option for many, according to ACSIA Partners, one of America's largest long-term care insurance agencies.

"It's very good news," says Denise Gott, the company's CEO. "Millions of Americans can breathe a sigh of relief. Now they can get long-term care protection with greater confidence that their needs will be met no matter how long they live."

The Partnership Long-Term Care Insurance Plans have emerged slowly over two decades, state by state, with little fanfare. First only California, New York, Connecticut and Indiana had Partnership plans. And now, they're available in a majority of states. "But most people don't know it," says Gott.

Her company aims to fix that. "Our agents spread the word," she says. "They show how the new plans provide the security we're all looking for, brightening our futures financially and personally by filling the long-term care gap. They also know which insurance carriers in which states have been approved to offer these special plans. Not all have."

What, exactly, are the Partnership Plans?

They are private long-term care insurance policies that let people keep some or all of their assets if they exhaust their policy's benefits and then apply for Medicaid to continue their care.

Established by the Deficit Reduction Act of 2005, the Partnership system empowers any state to set up a Partnership Program, which in turn engages qualifying insurance carriers to craft and offer specific policies. Several leading carriers have already done so.

It works this way:

The Partnership Plans simply ease eligibility for Medicaid, our system for supplying health and long-term care services for those with little or no means. "Anyone can qualify for Medicaid if they're poor enough," says Gott. "But if you own a Partnership Plan, you don't have to be so poor. You can maintain a higher level of wealth and still qualify."

Under a Partnership Plan, the amount of "Medicaid spend-down protection" received is generally equal to the amount of benefits received under one's private Partnership policy. For example, suppose a policy pays out $180,000 of claim benefits, and the person is still alive and still has care needs when the benefits are exhausted. Medicaid can fill those additional needs, but only when the person becomes eligible for Medicaid.

Without a Partnership Plan, that means spending nearly all of one's savings on the cost of care.

Conversely, with a Partnership Plan, eligibility comes sooner, avoiding greater loss of one's assets. A policyholder gets a "Medicaid asset disregard" that allows them to keep an extra $180,000 over the asset level that would otherwise have to be reached for Medicaid eligibility.

"This can make a huge difference," says Gott. "You no longer have to impoverish yourself to get public assistance. Middle-class families can keep solvent and keep productive longer as a result."

Furthermore, "Knowing you've got this backup can give you an extra incentive to protect yourself with LTC insurance in the first place," Gott adds. "That's why Uncle Sam and the states set it up."

"Also," says Gott, "Some people may choose a less expensive policy with more limited benefits, knowing the public backup is there."

To obtain a state-approved Partnership Plan, "you need to take care," says Gott. "Not all of today's long-term care policies fit the category. You need to seek out one of the relatively few approved policies now available."

Information is available from any of Gott's local long-term care agents, serving all parts of the country. They are glad to help anyone explore their long-term care options, including access to insurance carriers that now offer state-approved Partnership Plans.

Requests to speak with a local agent may be submitted here: https://www.acsiapartners.com/quote/.

ACSIA Partners LLC -- https://www.acsiapartners.com -- serves organizations as well as families. The company is also a co-founder and sponsor of the "3in4 Need More" campaign, which encourages Americans to form a long-term care plan.

* LOGO for media: Send2Press.com/mediaboom/16-0421-ACSIA-Partners-300dpi.jpg
* Image Caption: ACSIA Partners logo.

This news story was published by the Neotrope® News Network - all rights reserved.

Free News Articles, Insurance, Long Term Care

Shopping for Long-Term Care Insurance Can Be Uniquely Frustrating, says ACSIA Partners

KIRKLAND, Wash. -- If you're in the market for long-term care insurance, you may be in for a long, exasperating slog, according to ACSIA Partners, one of America's largest long-term care insurance agencies.

"Unfortunately, LTC insurance isn't an easy thing to buy," says Denise Gott, the company's CEO. "You can't just comparison shop for it as you can for a TV or refrigerator."

Most shoppers find themselves plowing through general information and regulatory guidance without uncovering any specific policies or prices, she asserts. "It's frustrating and a big turnoff. So we offer an easy solution: comparison shopping on the consumer's behalf."

Gott applauds an article published last week on the LTC Guild website, entitled "Shopping for Long-Term Care Insurance Can Be a Big Fat Pain." It documents a hypothetical New Jersey woman's futile attempt to shop for LTC insurance in the same way she recently shopped for a backyard trampoline, a new home, and a new car.

"It would be hilarious if the gist of it weren't so true for so many," says Gott. The article is available at http://ltcguild.ning.com/profiles/blogs/shopping-for-ltci .

"LTC insurance is almost in a class by itself," Gott says. "Until recently health insurance was also hard to buy, but now, with the Affordable Care Act, you can easily comparison shop for it on healthcare.gov or the state marketplaces."

"With LTC insurance, the only viable shopping alternative is to rely on an intermediary -- an impartial, state-licensed agent or broker that represents multiple carriers and can do the research on your behalf," she says.

But finding the right intermediary can be a challenge. Her company makes it easier in four ways:
1. Offering over 300 experienced intermediaries (state-licensed LTC specialists) covering all parts of the nation,
2. Representing several leading LTC carriers, not just one or two,
3. Equalizing commissions so agents have no incentive to favor one policy over another, and
4. Maintaining an educational stance: informing people and helping them move at their own pace toward their own conclusions.

To speak with an intermediary covering your area, submit a request here: https://www.acsiapartners.com/quote/.

ACSIA Partners LLC -- https://www.acsiapartners.com/ -- serves organizations as well as families. The company is also a co-founder and sponsor of the "3in4 Need More" campaign, which encourages Americans to form a long-term care plan.

The LTC Guild is a network where long-term care and allied professionals meet and share information with the public.

* LOGO for media: Send2Press.com/mediaboom/16-0421-ACSIA-Partners-300dpi.jpg

* Image Caption: ACSIA Partners logo.

This news story was published by the Neotrope® News Network - all rights reserved.