Four Ways the Coronavirus Pandemic May Affect Long-Term Care Insurance
The coronavirus pandemic has had a devastating impact on those in nursing homes and other long-term care facilities. This has...
Read moreWith older Americans being most at risk from the COVID-19 coronavirus, the response to the pandemic is highlighting issues of ageism in the United States. According to experts, ageism is evident both in the response to the virus and the lack of protective equipment allocated to nursing homes.
Experts on aging assert that the medical field, politicians, and the public may have acted quicker and taken the coronavirus more seriously if the perception had been that it primarily affected younger Americans. In an article in the Washington Post, Syracuse law professor Nina Kohn argues that the “devaluation of older lives” has caused more older Americans to die than necessary.
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Many young people ignored social distancing recommendations at the start of the pandemic. Headlines emphasizing the virus’s effect on young people (For example: "It isn’t only the elderly who are at risk from the coronavirus" and "Not just older people: Younger adults are also getting the coronavirus") were used to persuade Americans to take the virus seriously. Geriatrician Louise Aronson pointed out that “when you say ‘just’ older people, it sounds like, well, it’s just killing old people, they’re all dying anyway.” Aronson adds that even some older Americans have not followed social distancing recommendations because they do not want to think they are “old.” According to Aronson, “It’s almost as if, if they’re not out there doing things, then they’re one of those old people that doesn’t count. We have created that cultural reality, so shame on all of us.” As the debate raged about closing our economy to prevent the spread of the virus, Texas Lieutenant Governor Dan Patrick even suggested that seniors would be willing to give up their lives in order to help the economy.
Even though COVID-19 has been more deadly for seniors who have contracted the virus, hospitals have focused on helping younger patients. A geriatrician in San Francisco writes in The Atlantic about that special clinical protocols to deal with COVID were developed for children and adults, but not for seniors. Kohn explained that “Ageism is evident in how we talk about victims from different generations, in the shameful conditions in many nursing homes and even -- explicitly -- in the formulas some states and health-care systems have developed for determining which desperately ill people get care if there’s a shortage of medical resources.”
Nursing homes have been a hotbed for coronavirus, but have been slow to receive the necessary protective equipment for their employees and patients. Bob Kramer, the leader of Nexus Insights, a think tank on aging issues, told Forbes that ageism is apparent everywhere during the pandemic. “It showed up when the management of your parent’s assisted living, memory care, or skilled nursing facility asked for help from their state or county government in securing personal protective equipment (PPE) for their staff and residents. They were told to get in line behind hospitals, medical personnel, government facilities, and military installations. Test kits? Same story. They are victims of our government’s unwillingness to prioritize the health and safety of older adults and those who care for them.”
Ageism is nothing new, but the coronavirus has exposed the phenomenon in a stark way. To read more about ageism and the coronavirus, click here and here.
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Read moreIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MOREIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MORELearn who qualifies for Medicare, what the program covers, all about Medicare Advantage, and how to supplement Medicare’s coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MORE