At least 70% of people over 65 will need long term care services and supports at some point in their lives.
(Source: 2016 Medicare & You, Centers for Medicare & Medicaid Services)
About 68% of nursing home residents and 72% of assisted living residents are women.
(Source: Long-Term care Services in the United States: 2013 Overview, National Center for Health Statistics)
The national median daily rate in 2015 for a private room in a nursing home was $250, an increase of 4.17% from 2014.
(Source: Genworth 2015 Cost of Care Survey, March 2015)
The average length of a nursing home stay is 835 days.
(Source: CDC Vital and Health Statistics, Series 13, No. 167, June 2009)
At a median daily rate of $250, an average nursing home stay of 835 days currently costs over $208,000, making it virtually unaffordable for many Americans.
Medicare does not pay for long-term care services, as explained by the Social Security Administration: “About Social Security and Medicare…Social Security pays retirement, disability, family and survivors benefits. Medicare, a separate program run by the Centers for Medicare & Medicaid Services, helps pay for inpatient hospital care, nursing care, doctors’ fees, drugs, and other medical services and supplies to people age 65 and older, as well as to people who have been receiving Social Security disability benefits for two years or more. Medicare does not pay for long-term care, so you may want to consider options for private insurance (emphasis added).”
Please contact my office if you’re interested in discussing possible long-term care funding solutions.
MESSAGES from the Masters…
CHANGE BEGINS WITH CHOICE
by Jim Rohn
Any day we wish; we can discipline ourselves to change it all. Any day we wish; we can open the book that will open our mind to new knowledge. Any day we wish; we can start a new activity. Any day we wish; we can start the process of life change. We can do it immediately, or next week, or next month, or next year.
We can also do nothing. We can pretend rather than perform. And if the idea of having to change ourselves makes us uncomfortable, we can remain as we are. We can choose rest over labor, entertainment over education, delusion over truth, and doubt over confidence. The choices are ours to make. But while we curse the effect, we continue to nourish the cause. As Shakespeare uniquely observed, “The fault is not in the stars, but in ourselves.” We created our circumstances by our past choices. We have both the ability and the responsibility to make better choices beginning today. Those who are in search of the good life do not need more answers or more time to think things over to reach better conclusions. They need the truth. They need the whole truth. And they need nothing but the truth.
We cannot allow our errors in judgment, repeated every day, to lead us down the wrong path. We must keep coming back to those basics that make the biggest difference in how our life works out. And then we must make the very choices that will bring life, happiness and joy into our daily lives.
And if I may be so bold to offer my last piece of advice for someone seeking and needing to make changes in their life – If you don’t like how things are, change it! You’re not a tree. You have the ability to totally transform every area in your life – and it all begins with your very own power of choice.
QUOTES from the Masters…
“Don’t let the learning from your own experiences take too long. If you have been doing it wrong for the last ten years, I would suggest that’s long enough!”
— Jim Rohn
“For years I have been accused of making snap judgments. Honestly, this is not the case because I am a profound military student and the thoughts I express, perhaps too flippantly, are the result of years of thought and study.”
— George S. Patton
“With more success, comes greater problems along with greater ability to solve them.”
— Mark Victor Hansen
“Challenge everything you do. Expand your thinking. Refocus your efforts. Rededicate yourself to your future.”
— Patricia Fripp
“A professional is a person who can do his best at a time when he doesn’t particularly feel like it.”