senior care

Myth: I can "self-insure" for long term care should I need it down the road.

Reality: There is no thing such as "self-insurance", only "self-funded" care. 

Melissa Barnickel had a wonderful experience speaking at the Society of Financial Professionals on March 13th to discuss funding options for a long term care event. She also served as a panelist at the Intercompany Long Term Care Insurance Conference to discuss long term care insurance options in Las Vegas, NV on March 19th.

We all know that breaking news is pretty synonymous with breaking bad news. OK, usually with very bad news. After all, as the saying goes, “if it bleeds, it leads.” Ouch! Controversy, both real and manufactured, grabs our attention, sells newspapers, and garners views on digital devices.

Modern consumers have greatly benefited from the ability to comparison shop and order from virtually any purveyor. This reality has even started to infiltrate the healthcare market.

However, long term care decisions for yourself or a loved one tend to be more difficult and cannot necessarily be made at the touch of a button through technology like Siri and Alexa. Whether the search is for a home health care worker, or, a facility such as an assisted living facility or nursing home, the choice is often a complex and nuanced one.

November is long term care awareness month. Even though long term care is often discussed in the news, it is frequently confused with healthcare.

Genworth has released its 2017 cost of care findings.

The national median hourly rate for homemaker services rings in at $21/hour. Meanwhile, the national median hourly rate for home health aide services is $22/hour. The median for adult day care is $70/day. While assisted living facilities will cost you $3,750/month. Lastly, nursing care for a private room will run a median average of $267/day, while a semi-private room is a daily rate of $235. 

More information can be found at the following link:

According to a 2014 study completed by the American Association of Retired People (AARP), 80% of respondents wanted to age in their homes instead of moving to an assisted living or continued care facility. Considering there will be an estimated 73 million seniors ages 65 and older in America by 2030, this represents a very large number of the national population. Luckily, now more than ever, senior care trends are moving towards supporting the elderly in this endeavor.