2. Some facts about aging…
10,000+ of us turn 65 every single day
We’re the biggest, most diverse cohort of “old people” our country has ever seen

3. More facts…
Only about 5% of us live in facilities that serve older adults
Increase in life expectancy has flattened a bit – in the US, our average life expectancy is 78.7 years.
The longer you live, the longer you’re likely to live
4.2 percent
According to the U.S. Bureau of the Census, slightly over 5 percent of the 65+ population occupy nursing homes, congregate care, assisted living, and board-and-care homes, and about 4.2 percent are in nursing homes at any given time.Oct 21, 2011
In 1900, men lived to 46.3, women to When SS was enacted in 1935, 59.9 and When Medicare came into play in 1965, 66.8 and When ACA was enacted in 2010 – 78.7, 81.1

4. And some myths Old people have old ways of thinking
Genetic health conditions can’t be avoided as people age
People lose their memory as they age
Elderly people are less adaptable to change
Old people are crabby and depressed
Old people are incompetent
4.2 percent
According to the U.S. Bureau of the Census, slightly over 5 percent of the 65+ population occupy nursing homes, congregate care, assisted living, and board-and-care homes, and about 4.2 percent are in nursing homes at any given time.Oct 21, 2011
In 1900, men lived to 46.3, women to When SS was enacted in 1935, 59.9 and When Medicare came into play in 1965, 66.8 and When ACA was enacted in 2010 – 78.7, 81.1

5. How on earth can you predict?
4.2 percent
According to the U.S. Bureau of the Census, slightly over 5 percent of the 65+ population occupy nursing homes, congregate care, assisted living, and board-and-care homes, and about 4.2 percent are in nursing homes at any given time.Oct 21, 2011
In 1900, men lived to 46.3, women to When SS was enacted in 1935, 59.9 and When Medicare came into play in 1965, 66.8 and When ACA was enacted in 2010 – 78.7, 81.1

6. Does your home suit your needs?

7. How does your home size up in terms of
Your current home
How does your home size up in terms of
Accessibility
Affordability
Ease of maintenance
Geography – access to errands, friends, family
Features that support aging in place

8. Housing Options Stay put – no change needed
Invest in changes/upgrades to stay put
Downsize and move locally
Move to be closer to family
Explore facility-based living

9. Community-Based Living
Independent Living Facilities
Multi-level Campus
Continuing Care Retirement Community
Assisted living – 2 levels available
Nursing home

10. How do you choose? Health Mobility Other support needs Resources
Preferences

11. Minding Your Health Lifestyle matters well into advanced age
Managing chronic illness has positive benefits
Relationship with medical team helps
Some problems are challenging to diagnose and treat
When the waters get rough, get help with navigation early

12. Minding Your Resources
PAYING FOR CARE
Medicare – pays for things with beginning and end – SNF, limited home care, hospice
Medicaid – pays for care for low income/asset level individuals
VA – limited benefits for qualifying vets
Long Term Care Insurance
Private Resources – savings and investments

13. Minding Your Resources
MEDICARE
Medicare A
Medicare B
Medicare Supplement (medigap)
Medicare D (prescription drug coverage)
Managed Care Options – MC Advantage

14. Minding Your Resources
MEDICAID
Designed as program for poor moms and kids
About 20% of its national budget now pays for long term care
Financial eligibility
Clinical Eligibility

15. Minding Your Resources
VETERANS BENEFITS
Aid and Attendance Program
VA Disability
VA Health Care System

16. Minding Your Resources
LONG TERM CARE INSURANCE
Elimination period
Daily benefit
Maximum benefit (time or $$)

17. Minding Your Resources
HOW MUCH DOES IT COST??
Home Care – private agency - $30/hour
Assisted Living - $5,500-7,500/month
AL – Memory Care - $6,500-9,000/month
Nursing Home - $11,000-13,000/month

18. Minding Your Resources
YIKES!
Get advice when sizing up
your options
Understand contract details – what’s included and what’s not
Bed availability tends to be tight for better quality facilities

19. Minding Your Resources
TALKING ABOUT YOUR MONEY
Are you planning for one or two people?
What is monthly income from all sources? What are the sources?
How much of your current living expenses are covered by income? How much do you need to pull from savings?

20. Minding Your Resources
TALKING ABOUT YOUR ASSETS
What is the value of your real estate, savings, investments and other property?
How are the assets titled?
How are these organized in your estate plan for use later?

21. Minding Your Resources
TALKING ABOUT MONEY IS HARD
If you’re asking for financial assistance, every person who tries to help will help
Planning to answer the questions ahead of time decreases a lot of stress

22. Other Resources FAMILY AND FRIENDS For practical support
To work on your behalf if you can’t – using your DPOA designations
Advocacy
Personal care and supervision

23. What complicates planning?
Planning for “unevenly aging” couples
Planning with blended families
Ongoing responsibility for an impaired adult child, grandchild or other person
Family conflict

26. What can you do?
Discuss your vision and wishes with your partner and/or trusted advisors to sketch out a plan
Once you feel confident, share the plan with other family members and advisors
Keep the plan up to date as things in your life change

27. MOST IMPORTANT
You are more likely to stay in charge if you take charge
Time is your friend – few decisions need to be made on the spot
Don’t make big changes or commitments before reviewing with someone you trust
Keep your advance planning documents safe and accessible – share as appropriate

28. I’m sorry!!

29. But also hopeful… YOU STARTED TODAY!
Review your notes from today and discuss with your partner and/or advisor
Ask questions, brainstorm – don’t think small
Draft a useful, clear plan
Repeat this process as needed

30. For more information
Nancy Euchner – AgeQuest, LLC 195 New Hampshire Avenue, Suite 255 Portsmouth, NH