Long Term Care Planning: Assessing Current and Future Care Needs

We were recently invited to write a series of brief articles for the monthly newsletter of our friends at MDK Insurance Services, describing the continuum of long term care, and how to navigate oneself through it. You can sign up for the newsletter on their website, and each month we will provide a copy of the article here as well. Please share the information with someone you know who is thinking ahead about how to plan for (and pay for) their own or a loved one's long term care.

Volume II: Assessing Current and Future Care Needs

You know the importance of thinking ahead and understanding your options when it comes to long term care. But how do you know what kind of care you may need? No one can see the future, but by taking a realistic look at your current scenario and asking hard questions about what may lie ahead, you can set yourself up for success.

Consider your current health status (and that of your spouse, if applicable). Are you living with any chronic health conditions, or are you at risk of developing them? You may be functioning at an exceptionally high level right now, but consider the possibility that some day you may not. One in eight Americans over the age of 65 has dementia, which results in a decline in memory and cognitive ability, and usually prevents an older person from being able to live alone without assistance.

Think about your support system. What type of assistance can you reasonably expect from your spouse, children, neighbors, and friends? Do you live in a community where you are surrounded by these types of natural "helpers," or is your network more limited? What kind of help are you going to be willing to accept from your friends and family, and for what types of tasks would you prefer the help of a professional?

Begin giving these questions some thought, and next month we'll begin exploring the range of at-home and community-based options that are available to those who require long term care.

Long Term Care Planning: Establishing Your Objectives

We were recently invited to write a series of brief articles for the monthly newsletter of our friends at MDK Insurance Services, describing the continuum of long term care, and how to navigate oneself through it. You can sign up for the newsletter on their website, and each month we will provide a copy of the article here as well. Please share the information with someone you know, who is thinking ahead about how to plan for (and pay for) their own or a loved one's long term care.

Volume I: Establishing Your Objectives

Recent survey information reveals that 75% of those aged 65 and older will eventually require long term care. Thinking ahead and understanding the options that are available helps us make better-nformed long term care choices when the needs arise. Planning before a crisis that is brought on by a sudden change in status empowers the older or disabled individual to make well thought-out decisions about their own care, versus having decisions made quickly by someone else during a time of great stress. Ensuring that everyone is working with the same information, and effectively delegating tasks preserves relationships between family members and friends.

Start by establishing your objectives: Are you looking to make a short-term decision to deal with a specific and time-limited issue, or are you thinking ahead about future care and housing decisions? Agree on who will participate in the decision-making process, and what their duties and responsibilities will be. Perhaps one sibling will research and identify potential home care providers, while another takes responsibility for making phone calls and conducting interviews. Gather information, and then take the time to weigh your options together. Remember that the landscape of long term care is constantly changing; the options available today are different from those that were available just a few years ago.

Next month, we'll look at ways to conduct an accurate assessment of an individual's current and future care needs, before examining the range of care and housing options available along the continuum of long term care.

Good News for the Elder Care Industry

The first wave of the Baby Boomers turns 64 this year. It won't be long until they start the biggest retirement exodus this country has ever seen. It's time for companies to prepare, because the Boomers are being replaced by a much smaller generation of unskilled workers. With the unemployment rate close to 10%, it's hard to imagine, but in just 8 short years our country could have as many as four million more jobs than workers to fill them.

So what's the good news for us in the elder care industry? First, the idea of a traditional retirement is outdated. The 60-somethings want to continue to work, and make a difference. They want flexible, creative work that accommodates their lifestyle. I can think of a fabulous profession that meets all that criteria...professional caregiving! Additionally, many of the soon-to-be retirees already have experience, in caring for their aging parents.

As an HR professional, it is my duty to keep on top of up to four generations that are in the current workforce, and understand the needs and traits of each. In the elder care industry, however, the most common generation is the Boomers. Let's inform these new retirees of this growing, purposeful career and help reduce the gap between open jobs and skilled workers.

Medicare Part D Open Enrollment

Medicare beneficiaries take note! The annual election period for prescription coverage under Medicare Part D will take place from November 15 through December 31 for coverage beginning January 1, 2011.

Why is this significant? There is only one enrollment period per year when you can change coverage. Different Part D plans offer varying coverage for certain medications, so you may wish to change Part D plans if you have experienced any health problems over the past year which have resulted in medication changes. Or, if you have added up your medication expenses and feel you may be able to get better coverage under a different Part D plan, you may wish to "shop around."

You can use the formulary finder on the Medicare website to search for the Part D plans in your area that cover most or all of the medications you are taking. You will be prompted to enter a list of your medications and dosages, and then you will be provided with a list of Part D plans, their monthly premiums, and customer ratings of each plan.

Generally you can only switch Part D plans during the annual enrollment period, though there are certain exceptions, called Special Election Periods (SEPs). You may have an SEP if you experience a special circumstance such as moving into a nursing home, or losing your Medi-Cal benefits. If you are currently covered under a union or retiree plan and this plan stops offering prescription drug coverage in the future, you can join a Medicare Part D plan without a penalty as long as you do so within 63 days of the end of your existing coverage.

Medicare Part D coverage can be confusing, but there are resources out there to help. Great information on Part D coverage, as well as Medicare and other health insurance options for seniors, is available at the website of California Health Advocates. You can also call the San Diego Health Insurance Counseling and Advocacy Program (HICAP) office at (858) 565-8772.

Quality of Life

Quality of Life is tied to perception of 'meaning'. The quest for meaning is central to the human condition, and we are brought in touch with a sense of meaning when we reflect on that which we have created, loved, believed in or left as a legacy.
- Frankl VE. 'Man's search for meaning.' New York: Pocket Books, 1963.

I have had the pleasure to work with a wonderful and talented woman whose art has brought joy to many, and most importantly herself. She has patented a particular style of batik and created and sold her work but has not been able in past years to express her artistic talents.

Elder Care Guides holds as one of its main beliefs the importance of helping our clients achieve "quality of life." Knowing my client's passion for her art, I set out to discover a means to help her create again and with much luck, discovered a great resource by the name of Kat Kirby.

Ms. Kirby is an Art Therapist who believes in the "healing power of the arts" and that one should have a "good time during the process." Her studio, 2KatStudios, offers workshops in collage, mosaics and other creative pursuits. To find out more about Kat, check out her websites here and here.



Kat's patience, expertise and own excitement in creating has brought my client the opportunity to express herself, to hope and to create a legacy once again.

We Love Carrots!

I recently attended the 62nd Annual SHRM Conference, the largest HR Conference in the world with over 11,000 attendees from 140 countries. As you can imagine, the general and breakout sessions were packed with valuable information on managing, supervising, and engaging employees. However, one session that stood out above the rest was "The Carrot Principle: How the Best Managers Use Recognition to Engage Their People, Retain Talent and Accelerate Results," presented by Chester Elton.

Elton is a dynamic and insightful speaker, who engaged the audience by encouraging participation, using multiple types of visual aides, and even throwing stuffed carrots into the audience. His message, backed by years of research, was simple: recognize your employees for a job well done frequently, specifically, and immediately, and they will feel valued and appreciated. As mentioned before on this blog, valued and appreciated employees stick around. The metaphor of the carrot as it relates to business is "something used to inspire and motivate the employee." In Elton and Adrian Gostick's book, it states:

"When employees know that their strengths and potential will be praised and recognized, they are significantly more likely to produce value."

So how does this relate to employees that care for elders for a living? The demographic that makes up the majority of caregivers, are those that live paycheck to paycheck. Don't those employees just want more money? Nope. At least, that's not what Elton and Gostick reported. One-third of people you give a cash award to will use that money to pay bills, and one in five won't remember in a few months how much they received or where they spent the money. But they will remember receiving a hand-written note from their direct supervisor, or better yet, the President of the company, thanking them specifically and timely for something they did that was above and beyond. If those appreciative notes and phone calls keep coming, employees will keep going above and beyond, because rewarded behavior gets repeated.

I highly recommend Elton and Gostick's book and website. Read them, study them, and implement a recognition program. Your employees will appreciate it, and become motivated to do better and be more committed, which directly translates to your companies mission, goals, and values.

A Little Bit of Fun

Sharing some laughter! Click on the photo to enlarge, and enjoy!