Mutsko Insurance

A Practical Solution for Nursing Care

 If you’ve ever been a primary caregiver or cared for a parent or loved one, you know how costly nursing care can be. If you are like me, you are sometimes troubled by the thought that you will need nursing care at some point in your life. After all, it is projected that almost seven out of ten people over the age of 65 will need nursing care services during their lifetimes. 

The fact is the cost of nursing care is expensive. And, for many people the cost of comprehensive long term care insurance is out of reach, too. So does this mean you will have to drain your savings to cover these services out of pocket?  Or worse yet, will you be forced to turn to your family and friends to shoulder the emotional and financial burden of caring for you if a need arises?

 No!  There is a Solution

According to a National Nursing Home Study conducted by the Center for Disease Control (CDC), nearly 44% of all nursing home stays are for less than 1 year. And, now there is an affordable, innovative insurance policy that covers the cost of a nursing home stay of less than one year. It is called a Short Stay Nursing Home Insurance Plan.

This easy to understand policy provides you with up to 350 days of protection, in addition to what Medicare and other coverage provides. That can be up to $105,000 in benefits at $300 a day.

 Because everyone’s personal financial situation is different, this policy offers you the option to design a plan of coverage that will fit your individual budget. You can purchase the maximum coverage or keep the cost lower by adjusting the daily cash benefit or designing a plan with less than 350 days coverage. You choose what’s right for you and your family.

Imagine your peace of mind once you know you are not going to be on your own if you ever need nursing care.

Call me at 440-255-5700 today and I will be happy to discuss all the details on Short Stay Nursing Home Insurance. 

 Are you disappointed with the interest rates being offered on savings accounts today? You may be interested to know that you can increase the return on your investment with annuities.

Consider these points:

•  Annuities offer a moderate to significant increase in your income.
•  Annuities are tax deferred. (If you are not currently using your money,   why pay taxes on it? The taxes reduce an already low rate of return!)
•  Annuities are built with several guarantees. Some include the full backing of the insurance company which offers far stronger financials than many banks.
•  There are many options to satisfy the needs of almost every investor.

If you have money invested that is purely for future emergencies, inheritance, or if you are using your funds to generate income for day to day expenses, you may want to consider an annuity.

Annuities are not a place for all of your money as diversification is very important. Money invested in annuities should be savings that are not required for short term needs.

I can help educate you about your options so you can make an informed decision about your investments. If you would like to learn more about annuities, please call me at 440-255-5700 or toll free 888-951-6201. 

Did you know that women have served in every U.S. military conflict beginning with the American Revolutionary War to the current wars? Today, more than 214,000 women are on active duty and make up better than 14% of our military.

 We salute these women. Thank you for your sacrifices and service to our country.

Do you have a clunky old computer that’s just collecting dust? Have you been intending to shred those old documents but never seem to have the time? You’re in luck! Many cities and counties throughout Ohio are helping you clear out the clutter and helping you get rid of those tough to dispose of household items.

 Some Ohio counties are establishing waste disposal drop-off sites, too. For information on recycling and solid waste disposal in your community, please call the Ohio State University Extension at 440-350-2582 or check with your city hall to find out where the nearest collection center is in your community.

Here are just a few of the special events that are planned:

April 21 
Scrap Tire Collection
     Lake County Fairgrounds
     Accepting up to six auto or light truck tires without rims  
     Small charge to dispose of larger tires and tires with rims

April 28 
National Prescription Drug Take Back Day
     Contact your local police department for the nearest drop-off location
  
May 5  
Computer Collection for Lake County Residents
     Lake County Fairgrounds  
     Will accept computers, keyboards, monitors, mice, printers & modems

May 21 
Euclid Community Shred Day
     Behind Euclid City Hall
     On-site shredding of up to five (5) boxes per resident

It is projected that nearly three out of four people over the age of 65 will require some form of long-term care during their lifetime. This combined with steadily rising costs of long-term care, underscores the importance of being prepared to deal with a long-term care situation for yourself or a loved one.

Who pays for long-term care?

Often, people assume that Medicare and health insurance pay for long-term care. Medicare and traditional health insurance policies essentially cover little to none of the costs of in-home care, assisted living facilities or nursing homes. While costs may vary, the average cost for nursing home care in Ohio is more than $5000 a month. People who pay for care out of pocket can quickly deplete their assets. Long-term care insurance can relieve this financial burden, paying for care while protecting your assets.

What is long-term care insurance?

Long-term care insurance is an insurance policy designed to protect your assets, income and family from the financial and emotional cost of long-term care. Policies vary greatly but generally cover a wide variety of in-home and residential care services.

People who should consider buying a long-term care insurance policy are individuals who:

• Want to protect their assets.
• Want to maintain their independence and not have to rely on friends and   family for financial or physical support.
• Want to have a choice about where and by whom they will receive long-term care services.
• Can afford to pay the premiums every year in the future without experiencing financial hardships in doing so. 

Long-term care insurance is usually not suitable for individuals who:
• Are in poor health or already receiving long-term care services.
• Have limited assets and have a hard time paying for utilities, medicines, and other important needs.
• Count on Social Security benefits or SSI as their only source of income
• Are already receiving Medicaid benefits.

While long-term care insurance will help you cover the cost of care and protect your assets, you must be purchased a policy before a need arises. A good time to purchase long term care insurance is when you are in your 50′s.

Let’s sit down and have a talk about Long Term Care.  Call me, Laura Mutsko, at 440-255-5700.

Part 2 of a series on Long Term Care. 

 Nearly three quarters of the population over 65 will require some form of long-term care during their lifetimes. When help is needed, what steps should you take to find the right company to fit your needs?

 Once you have determined that your family member is able to stay in their home with some extra support for daily activities, a few choices for in home care are possible. Homemaker services companies help those who need assistance with household duties such as cooking, cleaning and running errands. A home health aide can provide more extensive personal care, including bathing, dressing, eating and transferring among other support.

 In any case, someone you don’t know will be coming into their home regularly and caring for someone you love. Finding the right person or company takes lots of research and many questions. Here are a some questions to get you started:

-  Is the agency licensed by the state, certified by Medicare, bonded and insured?

-  Can the agency provide references from doctors, discharge planners, clients and their families?

-  Will you get to interview the people who will be providing care prior to them starting?

-  What if you don’t feel comfortable with the assigned caregiver?

-  How do supervisors monitor and evaluate the quality of care provided by the caregiver?

-  What are the hiring practices of the agency?

-  Do they do thorough background checks on all employees?

-  How do they find their employees?

-  Can the care provider provide reference?

-  Are the caregivers licensed and insured?

-  How does the agency train caregivers?

-  Are they certified in CPR and first aid?

-  How does the agency handle billing?

 Long term care insurance can help keep you in your home by covering the cost of in-home care and services when you need them.  But it must be purchased before a need arises. A good time to purchase long term care insurance is when you are in your 50′s. Call me today at 440-255-5700 to learn more about the unique features and options available to you through long-term care insurance.

Anthem Blue Cross and Blue Shield recently announced that atorvastatin, a new generic for the brand name Lipitor, had been added to their covered drug list. Since the generic is less expensive and just as safe and effective as Lipitor, beginning April 1, 2012, Lipitor will no longer be covered. Atorvastatin will continue to be covered.

This change impacts all commercial and individual business in all states covered under Anthem Blue Cross and Blue Shield plans. ASO groups that have chosen to participate in the “clinically equivalent” coverage strategy are also included.

The coverage change does not apply to local groups that do not have the “clinically equivalent” benefit exclusion in place, but prior authorization will be needed. Medicare Part D and state-sponsored business are not impacted. 

This article applies to: Ohio, Wisconsin, Nevada, New Hampshire, Missouri, Maine, Kentucky, Indiana, Connecticut, and Colorado

The Medicare Advantage Disenrollment Period (MADP) runs from January 1 – February 14, of each year.  The purpose of the MADP is to give Medicare Advantage members an opportunity to return to Original Medicare. 

The MADP will allow members to enroll in a standalone prescription drug plan. However, disenrolling in a Medicare Advantage Plan and enrolling into a standalone prescription drug plan means you will not have additional coverage for any medical claims other than the 80% that Medicare pays for.  Those members may choose to purchase a Medicare Supplement providing they qualify under the terms of the policy they wish to purchase.  Using the MADP to disenroll in a Medicare Advantage Plan does not result in Guaranteed Issue of Medicare Supplement insurance. 

Make sure you qualify for the supplement before you disenroll from your Advantage Plan.

Part 1 of a series on Long Term Care.

Nearly three quarters of the population over 65 will require some form of long-term care during their lifetimes. More than 40% of them will need care in a nursing home according to the Department of Health and Human Services. While family and friends will usually try to meet the needs of their loved ones, in most cases a professional caregiver will be needed as a part of the long-term care plan.

What is long-term care?
Long-term care is care provided for a wide range of personal, medical and social services for an extended period of time. Determining the need for long-term care is often done by a health professional who can assess the disability and recommend the level and duration of care needed.

Assessing the need
The first step is to determine the appropriate level of care. Observe the daily activities that the person is involved with and see which ones they are struggling to accomplish. A doctor, nurse, geriatric care manager or a hospital discharge planner may be helpful.

Once you have determined which daily activities need support, a few choices for care are possible. Family and friends can pitch in to cover certain needs while a homemaker service or a home health aide can come in and offer support in other areas.

As you weigh your options for care, consider these costs:

National Average costs for long term care in 2010*

Homemaker Services    $18/hour
Home Health Aid Services   $19/hour
Assisted Living Facility (single)              $3185/month
Nursing Home (semi-private room)              $185/day
Nursing Home (private room)                       $206/day

A common misconception is that health insurance will pay for long term care expenses. The fact is long term care is generally not considered medical care. Because of this health insurance plans will not pay for long term care expenses. Medicare will generally cover skilled care assuming you have been in the hospital for at least 3 days. However, it will not provide care for an extended period of time (e.g. more than 100 days). Also, it usually does not cover home or personal care services.

Long term care insurance can provide you and your family with protection, but it must be purchased before a need arises.  A good time to purchase long term care insurance is when you are in your 50′s. Call me today to learn more about the unique features and options available to you through long-term care insurance.