GMM Insurance West Columbia; VA Aid and Attendance Benefit Experts

“As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.”

-John Fitzgerald Kennedy

A letter to John D. Griggs with GMM Insurance

Good Morning, John –

 

Thank you is not a good enough expression when someone has done their best!  Stuart and I cannot thank you enough for spending so much time with us on Tuesday at Agape!  We have been trying to work with Dad and get him to do something to find out about his VA benefits and everything you told us was explained perfectly!  Thank you so very much!

Stuart and Barbie Staples

If you would like to know more about VA eligibilty to help pay for senior care, talk to the experts at GMM.

John D. Griggs

3865 Leaphart Road

West Columbia 29169

(803) 739-2345 – office phone

(803) 739-2186 – office fax

jdgriggs@agapesenior.com

West Columbia GMM Insurance; The Costs of End of Life Care

By TOM LAURICELLA

When it comes to end-of-life care, many people assume that if a nursing home isn’t in the picture, a family’s financial burdens will likely be minimal.

 

Such thinking, though, ignores the steep costs associated with caregiving — even if relatives are willing to pitch in.

 

End-of-life care isn’t a pleasant topic to address. It’s made more daunting by the unexpected turns in our physical and mental health as we age.

 

“These things often creep up on families,” says Kenneth Covinsky, who specializes in geriatrics at the University of California, San Francisco. “And often it’s a situation where you are simultaneously wondering, ‘How am I going to provide care?’ and having the personal trauma of seeing someone you love having trouble.”

Such challenges make it essential for families to sit down ahead of time to consider the possible burdens that will have to be shouldered. These can include anything from factoring the cost of adult diapers into a budget, to compensating a sibling who quits his or her job to care for a parent full time.

 

“Whatever you think health-care costs are going to be toward the end of life, you’ve probably underestimated,” says Carol Levine, director of the Families and Health Care Project at the United Hospital Fund. “There is so much that people assume is covered [by government programs] and isn’t.”

 

Among the biggest expenses: in-home care.

 

Medicare has a home-health benefit, but it’s only for part-time care. You can find details on what is and isn’t covered at www.medicare.gov/Publications/ Pubs/pdf/10969.pdf.

 

The United Hospital Fund has several booklets and checklists for thinking about home health care at nextstepincare.org.

 

“If you’ve got somebody with dementia and who wanders and can’t be left alone…that kind of 24-hour care becomes extraordinarily expensive,” says Dr. Covinsky. “At $10 per hour, for someone doing 40 hours a week, that’s $20,000 a year.”

 

In many cases, the cost of providing full-time skilled nursing care means a family member (or members) will step into the breach. Invariably, these caregivers will encounter some tough financial issues — immediate and long-term — which the rest of the family should try to anticipate.

 

One major concern: the loss of a paycheck, if caregiving duties pull that person away from his or her regular job. In situations where there are siblings who continue to work, families may wish to discuss ahead of time ways to compensate the caregiver for that shortfall. There’s also the long-term impact of falling behind on retirement savings, such as lost 401(k) contributions, and — in a tough job market — difficulties in returning to the work force.

 

In recent years, more studies have tried to quantify the financial impact of being a caregiver. A 2007 survey sponsored by the National Alliance for Caregiving and insurer UnitedHealthcare, found respondents spent an estimated $5,531 out of pocket each year for items such as food, travel, medical care co-payments and medications.

 

Common expenses that are often overlooked: adult diapers, which can easily end up costing hundreds of dollars each month, and special lotions. Then there’s the cost of adding grab bars and ramps for safety and access to homes. If you rent a hospital bed for the house, you’ll be on the hook for paying for specialized sheets.

 

A subsequent survey in 2009 highlighted how the ups and downs of the economy should be factored into the financial planning for caregiving. One in five caregivers moved into the same house as the person they were providing care for in order to cut costs; half said they were less comfortable taking time off from work to provide care; and one in three reported having to work more hours or get an additional job.

 

How to address such issues?

 

To start, a family member should have power of attorney to help handle an older adult’s finances, among other needs. If a husband and wife maintain separate bank and investment accounts, they should share information about those accounts, as well as any wishes for money beyond what’s spelled out in a will.

 

Other possible steps:

 

Consider hiring an elder-law attorney. While not cheap, it’s better to hire a specialist with experience in estate planning — and one who knows your state’s Medicaid program, if that’s in the cards.

 

Familiarize yourself with reverse mortgages, which allow older homeowners to tap their home equity while they remain in the house.

 

Discuss possible changes in wills. When it comes to compensating a caregiver, one option is for that person to get a bigger portion of any inheritance that could come from selling the elderly family member’s home in the future.

 

“If there are any kinds of issues that would potentially ruffle somebody’s feathers, it’s better to talk about them now,” Ms. Levine says. “You don’t want family members to be at each other’s throats and pocketbooks.”

 

GMM Insurance is a full-service independent insurance agency and a member of the Agape Senior family of businesses. GMM offers insurance options for home, auto, life, health and business. Our senior-focused insurance solutions cover long term care, Medicare supplements, and final expenses. Call us at 803-739-2345

West Columbia SC Veteran Benefit Explained

 

The Aid and Attendance (A&A) Pension provides benefits for veterans and surviving spouses who require the regular attendance of another person to assist in eating, bathing, dressing and undressing or taking care of the needs of nature. It also includes individuals who are blind or a patient in a nursing home because of mental or physical incapacity. Assisted care in an assisting living facility also qualifies.

To qualify for A&A it needs to be established by your physician that you require daily assistance by others to dress, undress, bathing, cooking, eating, taking on or off of prosthetics, leave home etc. You DO NOT have to require assistance with all of these. There simply needs to be adequate medical evidence that you cannot function completely on your own.

The A&A Pension can provide up to $1,632 per month to a veteran, $1,055 per month to a surviving spouse, or $1,949 per month to a couple*.

Eligibility must be proven by filing the proper Veterans Application for Pension or Compensation. (Form 21-534 surviving spouse) (Form 21-526 Veteran.) This application will require a copy of DD-214 (see below for more information) or separation papers, Medical Evaluation from a physician, current medical issues, net worth limitations, and net income, along with out-of-pocket Medical Expenses.

Any War-Time Veteran with 90 days of active duty, 1 day beginning or ending during a period of War, is eligible to apply for the Aid & Attendance Improved Pension. A surviving spouse (marriage must have ended due to death of veteran) of a War-Time Veteran may also apply. The individual applying must qualify both medically and financially. To see the periods of war that have been qualified by Congress.

To qualify medically, a War-Time Veteran or surviving spouse must need the assistance of another person to perform daily tasks, such as eating, dressing, undressing, taking care of the needs of nature, etc. Being blind or in a nursing home for mental or physical incapacity, or residing in an assisted living facility also qualifies.

Eligibility must be proven by filing the proper Veterans Application for Pension or Compensation. This application will require a copy of DD-214 or separation papers, Medical Evaluation from a physician, current medical issues, net worth limitations, and net income, along with out-of-pocket Medical Expenses.

 

GMM Insurance is a full service independent insurance agency and a member of the Agape Senior family of businesses. GMM offers insurance options for home, auto, life, health and business. Our senior-focused insurance solutions cover Long Term Care, Medicare supplements and final expense. Call us 803 739 2345

 

AskAgape

West Columbia GMM; Long Term Care Insurance – Answers to Common Questions

 

 

 

Will You need Long Term Care?

 

It’s hard to believe, but the estimated risk for needing Long Term Care continues to climb with each passing year. Now, the Federal government estimates that each individual has a 70% chance of needing Long Term Care in their lifetime. Recent studies reveal that if you are 60 years old you have more than a 60% chance of needing long term care. If you are over 65 years old, your chances of needing care goes up to 70%.

 

Who Is More At Risk for Needing Long Term Care?

 

Your age, marital status, gender, lifestyle and, to some extent, your family health history all play a part in the possibility of needing long term care.

 

According to insurance actuarials, you are more at risk if you:

 

-are older

-are a woman

-are single

-have a poor diet

-don’t exercise regularly

-smoke

-have a family history of Alzheimer’s, stroke, arthritis, or other degenerative diseases.

-Also, physical activities that can cause severe accidents should be included as a definite risk.

 

The Long Term Care Cycle

 

91% of Americans surveyed said they would prefer receiving Long Term Care at home. Indeed, of those needing care only 5% are in Skilled Nursing Facilites.

12% are in Assisted Living Facilities and more than

80% are receiving Home Care.

 

Therefore, it isn’t a surprise that most Long Term Care starts at home with the help of family or friends until the caregiving burden becomes a too much of a hardship. The next step might be to hire a paid caregiver to help with care duties in the home. Yet many people can’t afford such a luxury, even if they hire unskilled, unlicensed, unsupervised “grey market” caregivers.

 

As care needs increase the next care setting of preference is Assisted Living Facilities, as they are more like hotels than the hospital-type setting of a Skilled Nursing Facility. Most people do everything in their power to stay out of nursing homes, which is one reason why the average nursing home stay is only 2.5 years.

 

While most Americans suspect that they might need long term care “sometime” in the future, many underestimate care costs and falsely assume that Medicare or their health insurance will pay for extended care. They will not. Medicare will only pay for a short time and only under specific, limited circumstances. The only governement agencies that pay for Long Term Care are Medicaid and the Veteran’s Administration. Both are notorious for their lack of care quality and poor quality of life for their residents.

 

Boomers’ Mindset

Boomers have been raised to expect a decent quality of life and the freedom to make their own choices. They cherish independence, pleasure and, as they have matured, the joys of family and friends.

As a generation, Boomers were not raised to expect or shoulder sacrifice, although they can and do rise to the occasion. For most, the mere thought of a loved one enduring the extraordinary burden and sacrifice of day-to-day caregiving is enough to motivate Boomers to protect themselves and their families.

 

The value of Long Term Care insurance is that it:

 

1) supports independence by providing the ability to pay for Home Care and Assisted Living costs. It give people choices.

 

2) protects loved ones from the burdens of caregiving.

 

Long Term Care insurance should be called “stay at home or family caregiving prevention insurance”, and for these benefits alone it is worth its price.

 

Either having LTC insurance or paying for care costs out-of-pocket allows you to choose where to receive care, even when caregiving needs increase. However, Long Term Care insurance is less expensive in the long-run.

 

When Should I Buy Long Term Care Insurance?

 

 

 

The sooner the better! LTC insurance premiums go up in price as you get older, although once you buy a policy your premiums do not rise due to aging or health. For years, financial planners were telling their clients to wait until age 65, but this is no longer considered sound advice. The Federal and State Partnership Programs encourage people to buy as early as age 40, mostly to increase the financial security of the programs, but also to ensure that people do not become a burden on Welfare/Medicaid if they get sick or injured at an early age and need long term care.

If you can afford the premium for years to come, buy now to protect yourself and your family.

 

GMM Insurance is a full service independent insurance agency and a member of the Agape Senior family of businesses. GMM offers insurance options for home, auto, life, health and business. Our senior-focused insurance solutions cover Long Term Care, Medicare supplements and final expense. Call us 803 739 2345

West Columbia GMM; Long Term Care Insurance – Answers to Common Questions

Will You need Long Term Care?

 

It’s hard to believe, but the estimated risk for needing Long Term Care continues to climb with each passing year. Now, the Federal government estimates that each individual has a 70% chance of needing Long Term Care in their lifetime. Recent studies reveal that if you are 60 years old you have more than a 60% chance of needing long term care. If you are over 65 years old, your chances of needing care goes up to 70%.

 

Who Is More At Risk for Needing Long Term Care?

 

Your age, marital status, gender, lifestyle and, to some extent, your family health history all play a part in the possibility of needing long term care.

 

According to insurance actuarials, you are more at risk if you:

 

-are older

-are a woman

-are single

-have a poor diet

-don’t exercise regularly

-smoke

-have a family history of Alzheimer’s, stroke, arthritis, or other degenerative diseases.

-Also, physical activities that can cause severe accidents should be included as a definite risk.

 

The Long Term Care Cycle

 

91% of Americans surveyed said they would prefer receiving Long Term Care at home. Indeed, of those needing care only 5% are in Skilled Nursing Facilites.

12% are in Assisted Living Facilities and more than

80% are receiving Home Care.

 

Therefore, it isn’t a surprise that most Long Term Care starts at home with the help of family or friends until the caregiving burden becomes a too much of a hardship. The next step might be to hire a paid caregiver to help with care duties in the home. Yet many people can’t afford such a luxury, even if they hire unskilled, unlicensed, unsupervised “grey market” caregivers.

 

As care needs increase the next care setting of preference is Assisted Living Facilities, as they are more like hotels than the hospital-type setting of a Skilled Nursing Facility. Most people do everything in their power to stay out of nursing homes, which is one reason why the average nursing home stay is only 2.5 years.

 

While most Americans suspect that they might need long term care “sometime” in the future, many underestimate care costs and falsely assume that Medicare or their health insurance will pay for extended care. They will not. Medicare will only pay for a short time and only under specific, limited circumstances. The only governement agencies that pay for Long Term Care are Medicaid and the Veteran’s Administration. Both are notorious for their lack of care quality and poor quality of life for their residents.

 

Boomers’ Mindset

Boomers have been raised to expect a decent quality of life and the freedom to make their own choices. They cherish independence, pleasure and, as they have matured, the joys of family and friends.

As a generation, Boomers were not raised to expect or shoulder sacrifice, although they can and do rise to the occasion. For most, the mere thought of a loved one enduring the extraordinary burden and sacrifice of day-to-day caregiving is enough to motivate Boomers to protect themselves and their families.

 

The value of Long Term Care insurance is that it:

 

1) supports independence by providing the ability to pay for Home Care and Assisted Living costs. It give people choices.

 

2) protects loved ones from the burdens of caregiving.

 

Long Term Care insurance should be called “stay at home or family caregiving prevention insurance”, and for these benefits alone it is worth its price.

 

Either having LTC insurance or paying for care costs out-of-pocket allows you to choose where to receive care, even when caregiving needs increase. However, Long Term Care insurance is less expensive in the long-run.

 

When Should I Buy Long Term Care Insurance?

 

 

 

The sooner the better! LTC insurance premiums go up in price as you get older, although once you buy a policy your premiums do not rise due to aging or health. For years, financial planners were telling their clients to wait until age 65, but this is no longer considered sound advice. The Federal and State Partnership Programs encourage people to buy as early as age 40, mostly to increase the financial security of the programs, but also to ensure that people do not become a burden on Welfare/Medicaid if they get sick or injured at an early age and need long term care.

If you can afford the premium for years to come, buy now to protect yourself and your family.

 

GMM Insurance is a full service independent insurance agency and a member of the Agape Senior family of businesses. GMM offers insurance options for home, auto, life, health and business. Our senior-focused insurance solutions cover Long Term Care, Medicare supplements and final expense. Call us 803 739 2345