Life Can Change Suddenly

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Presentation transcript:

Life Can Change Suddenly Introduction: You are attending this seminar today because you know something that is a fact of life: Your Life Can Change on a Dime. Have you done all you can to protect your family? AIMS MED FC 175 W © Copyright 2011 AIMS, Inc.

What is Long Term Care? Long Term Care is the assistance that people need when they are unable to perform activities of daily living such as: bathing, dressing, eating, toileting, continence, and transferring Long Term Care can also mean the supervision required due to a cognitive impairment

The need for Long Term Care can result from: An accident A medical condition Normal aging

What are the chances of needing Long Term Care? The percentage of people over age 65 that will require some Long Term Care services during their lives is 70%. - US Department of Health and Human Services, National Clearinghouse for Long Term Care information, www.longtermcare.gov 10/10/11 More than 40% of those receiving Long Term Care services are under 65. - Georgetown University Long-Term Care Financial Project, “Long-Term Care Financing Policy Options for the Future,” June 2007.

How much does Long Term Care cost? Home Care Services - The national average hourly rate for home health aides is $21. The average hourly rate for homemakers/companions is $19 an hour. Assisted Living Communities - The monthly private room base rate is $3,293 monthly or $39,516 annually in 2010. Nursing Homes - The average cost of a semi-private room is $205 daily or $74,825 annually. - Market survey of Long-term Care Costs. The 2010 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care costs, MetLife Mature Market Institute, October 2010, Page 4

What’s your plan? Where do you envision receiving care? - At home from a family member or friend - At an assisted living facility - At a nursing home

How will you pay for care? Health Insurance Medicare Medicaid Long Term Care Insurance Personal Assets

Who pays for Long Term Care? Home Care Adult Day Care Assisted Living Nursing Home Long Term Care Insurance Yes, Homemaker & Health Aide Services Yes Health Insurance No Medicare Very limited coverage for homebound patients getting skilled nursing care. Homemaker care is not covered. May provide some coverage in certain situations. Skilled care only. No more than 100 days, co-pay after 20 Medicaid Very limited coverage for low income people, subject to spend down rules. A Shopper’s Guide to Long Term Care insurance, NAIC, 2010

If you haven’t made a plan… Your plan is to use your assets. Will your assets support your care and your family’s needs?

FlexCare Long Term Care insurance can… Transfer the risk Give you and your family peace of mind Give you the freedom to make the decision on where and how you receive care

FlexCare Long Term Care Insurance FlexCare is the next generation of ground-breaking innovation in Long Term Care insurance

FlexCare can be designed to fit your needs and your budget Reimbursement plans Cash enriched plans As low as 1 or 2 year plans

For the greatest flexibility, you can even receive your home health care and assisted living benefits in CASH by selecting the FlexCash rider. - Use cash to pay a family member or friend to provide care - No need to keep up with bills and wait for reimbursement

100% Worldwide Coverage Receive benefits ANYWHERE in the world! No restrictions on benefit length or location.

Advantages for Members of an Employer Sponsored Group 10% premium discount 25% married discount - Even if your spouse does not apply Simplified Underwriting You can share the savings with members of your family (even if you don’t take coverage) - Including parents, adult children, siblings, aunts, and uncles

[Agent Name] will help you through the enrollment process Choose your daily benefit and number of years of coverage Choose any optional benefits that fit your specific needs Choose an inflation option to keep your benefits growing

How to Apply for Coverage Review the informational material Call [Name] to schedule a personal consultation [contact info]