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Memory Care vs. Long-Term Care. How Can You Pay for It?

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Memory Care vs. Long-Term Care. How Can You Pay for It?
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By MRE Finance LLC

 

Is memory care the same as long-term care? This is a common question that many ask when deciding the best care for a loved one with Alzheimer’s, other types of dementia or serious medical conditions requiring specialized care. When faced with this situation, understanding the diagnosis, type of care needed, cost and the type of facility is important. Before making any decisions, determining the amount of attention and care needed is the first step. Working with your loved one’s doctor to understand their needs; such as cognitive functions, mobility and medications is integral to formulating a plan for care. This information will help determine the best type of facility to ensure the appropriate level of care.

 

What is the Difference Between Long-Term Care and Memory Care?

Long-Term Care

 

People often need long-term care when they’ve suffered a serious health issue, such as a stroke, or have an ongoing health condition or disability. Whether care is at a trusted facility or at home, long-term care involves a suite of services tailored to meet the patient’s health and personal needs. Some seniors require assistance with activities of daily living such grocery shopping, housekeeping, transportation, bathing or eating.  Depending on the patient’s health, long-term care is designed to provide these to maintain mental and physical health. The point of long-term care is to allow the resident to live as independently as possible while under medical care.

 

Often, sudden events, such as heart attacks or strokes require long-term care.  With most long-term care facilities, you can expect transportation, bathing and assistance with activities of daily living which are often difficult or impossible for the patient. The assistance needed for daily living activities can be provided in the home as well. Many patients receiving long-term care can complete cognitive function tasks enabling them to live more independently. Therefore, concerns of patients wandering off, as may occur in a memory care facility, are minimal.

 

If your loved one has a life insurance policy, review the policy to determine if it contains a long-term care rider or if they own a separate long-term care policy. The cost of long-term care is expensive and life insurance policy riders or policies can help subsidize the costs.

According to the National Institute of Health (NIH), “How people pay for long-term care—whether delivered at home or in a hospital, assisted living facility, or nursing home—depends on their financial situation and the kinds of services they use. Often, they rely on a variety of payment sources, including personal funds, government programs, and private financing options.” There are several ways to pay for long-term or memory care.

Another option is selling your loved one’s life insurance policy for a lump sum cash payout. The sale of a life insurance policy is called a “Life Settlement” and can provide the necessary finances needed to pay for cost of care.

Medicare and Medicaid

According to medicare.gov, “Medicare doesn’t cover long-term care if that’s the only care you need. You pay 100% for non-covered services, including most long-term care. Long-term care is a range of services and support for your personal care needs. Most long-term care isn’t medical care. Instead, most long-term care is help with basic personal tasks of everyday life like bathing, dressing, and using the bathroom, sometimes called “activities of daily living.”

Medicaid is a joint federal and state program that is federally subsidized insurance that helps with medical costs for those eligible based on income and personal resources. In most states, seniors aged 65 and older can qualify for regular Medicaid assistance if their monthly income is below $2,349 per month Most health care costs are covered if you qualify for both Medicare and Medicaid. Some nursing homes will accept Medicaid payments. Even if you pay out-of-pocket or with long-term care insurance, you may eventually “spend down” your assets while you’re at the nursing home, so it’s good to know if the nursing home you chose will accept Medicaid.

To get more information on Medicaid eligibility in your state, call your state Medicaid office.

Medicaid Waiver Programs

Memorycare.com states “Many states offer assisted living waivers, which amend the terms of regular Medicaid coverage to allow seniors to receive long-term care in assisted living or memory care facilities instead of nursing homes. This type of waiver helps states reduce their Medicaid costs by providing seniors with less expensive long-term care options. Waiver programs also allow seniors to live in facilities that are better suited to their needs. Unlike regular Medicaid, waiver programs are typically not entitlement programs. That means that instead of qualified individuals automatically receiving approval for benefits, they’re required to apply for assistance. If a program is at capacity, they may be placed on a waiting list until a spot is available.”

Medicare Part A:

Covers inpatient hospital care, skilled nursing facility care, nursing home care, hospice care and home health care. Short stays in a nursing home for hospital-related medical conditions will usually be covered.

Program of All-Inclusive Care for the Elderly (PACE)

The NIH (National Institute of Health) reports that “Some States have PACE, Program of All-Inclusive Care for the Elderly, a Medicare program that provides care and services to people who otherwise would need care in a nursing home. PACE covers medical, social service, and long-term care costs for frail people. It may pay for some or all the long-term care needs of a person with Alzheimer’s disease. PACE permits most people who qualify to continue living at home instead of moving to a long-term care facility. You will need to find out if the person who needs care qualifies for PACE. There may be a monthly charge. PACE is available only in certain States and locations within those States”.

Department of Veterans Affairs

“The U.S. Department of Veterans Affairs (VA) may provide long-term care or at-home care for some veterans. If your family member or relative is eligible for veterans’ benefits, check with the VA or get in touch with the VA medical center nearest you. There could be a waiting list for VA nursing homes.” (Veterans Health Administration).

Memory Care

 

The topic of memory care is typically an emotional subject for families.  If the time comes that your loved one requires assistance from a memory care facility, knowing the different ways to avoid out of pocket expenses is important. Due to memory care’s additional costs, most people must utilize savings to help subsidized the costs.

 

The demand for memory care facilities is increasing each year, making it more difficult to reserve a spot. Unlike basic long-term care facilities, memory care facilities provide specialized care and are specifically trained for residents with the unique issues of dementia or Alzheimer’s.

Facilities specializing in memory care provide extra security such as guarding exit doors to prevent residents wandering off premises.  Activities such as brain games, art classes, and music programs are designed to improve cognitive function and engage residents at different stages of the disease. Residents are assisted with tasks such as; taking medications, eating, bathing and are provided with cognitive therapy. The environment in these communities is designed to be safe and secure allowing the staff to track the resident’s movements.  Before deciding whether your loved one needs memory care or not, document notable changes in their behavior. Work with your loved one’s physician to ensure you receive a clinical diagnosis before deciding if they need long-term or memory care.

Differences in cost

 

The cost of long-term care can vary depending on which state you live in.  Overall, the higher the level of care and supervision needed, the more expensive it will be. Most individuals have to pay out of pocket for memory care.  Long-term care insurance policies or riders may cover a portion of a person’s long-term care expenses as they age. Standard Medicare and Medicaid do not cover the cost of long-term care or memory care facilities; however, most states have waiver programs that offer additional support.

 

Options to Cover Expenses

 

Life settlements are a common way for seniors to pay for memory care and long-term care.

 

Surprisingly, not many people know that their life insurance policy is one of the most valuable assets they own and could be sold for a lump sum cash payout that can be used to cover memory care or long-term care expenses. By selling a life insurance policy, known as a life settlement, your loved one can receive the care needed while eliminating expensive policy premiums.

 

Find out if your loved one’s life insurance policy is eligible to be sold with MRE Finance. They offer a FREE Life Settlement Calculator online to estimate the value of the life insurance policy in minutes, or you can call a specialist at 1-800-521-0770. MRE Finance can help you receive a significant payout for those that want to ensure their loved ones are safe, comfortable, and secure.

 

Conclusion

 

Deciding whether it’s time to move your loved one into memory care or long-term care facility is the beginning of the process. Understanding their needs can ensure they receive the best care for their needs.  Scheduling tours, meeting staff, and asking questions of the nurses, doctors, and staff will help you determine if the facility is the right one for your family. They may provide suggestions to help your loved ones adjust to their new surroundings.

 

After deciding which facility is best, find out what level of care is covered in your state. Review your loved ones’ life insurance policy as they may have long-term care coverage and consider how selling a life insurance policy can cover costs for care… Contact MRE Finance today to determine if your policy qualifies and receive a free estimate of the value of your policy. The cash you receive can be used to pay for memory care, long-term care or whatever you choose.

 

About MRE Finance LLC

MRE Finance brings over 25 years of experience in the life and viatical settlement industry.  Our mission is to educate and provide information to help seniors and those chronically ill live life with dignity and greater financial stability by assisting them in selling their life insurance policy. MRE Finance believes in being transparent with its clients and, above all respecting their privacy.

 

Website: mrefinance.com

Ph#: 1-800-521-0770

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The Truth Behind Bottled And Jarred Packaged Goods

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The Truth Behind Bottled And Jarred Packaged Goods
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The bottled and jarred packaged goods market is growing rapidly, as people are increasingly choosing to store food and drinks in a convenient, portable way.

This market is dominated by the beverage industry, which accounts for over two-thirds of the total market value. In 2020, the global bottled and jarred packaged goods market will be worth $3 trillion.

The popularity of bottled and jarred packaged goods is primarily due to three factors: convenience, portability, and hygiene. People are often reluctant to eat or drink from open containers because they feel worried about germs.

Additionally, many people find it inconvenient to carry around large amounts of food or drinks with them wherever they go. It’s the same reason people prefer casinos online, like casino utan spelpaus, to brick and mortar places; convenience. Bottled and jarred packaged goods provide a solution to these problems by being conveniently small and easy to store. They also have a much lower environmental impact than eating or drinking from open containers.

Bottled and jarred packaged goods are a popular choice for consumers who want convenience and variety. In fact, this is one of the fastest-growing segments of the grocery market.

Though there are many different types of bottled and jarred goods, the two main types are soft drinks and food. Soft drinks account for the majority of bottled and jarred sales, with beer being the second most popular type.

Food products make up a smaller portion of these sales, but they are growing at a faster rate. This is because food can be stored in sealed containers that protect it from spoilage and also allows customers to customize their meals easily. In fact, it’s thanks to properly packaged goods that you can now find lots of amazing food deals. This is because it helps prolong the life of these goods.

There are a number of reasons why customers choose bottled and jarred food over traditional grocery shopping: 

  • It’s easier to store: Bottled and jarred food can be stored indefinitely in cool, dry conditions, which eliminates the need to buy groceries regularly.
  • It’s convenient: Food products can be prepared quickly and easily without having to search for ingredients or wash dishes.
  • It’s tasty: Many packaged foods have been reformulated to taste better than ever before, eliminating the necessity for regular meal replacements or snacks.

Looking for a way to reduce the amount of waste that you produce each month? Check out our blog post on bottled and jarred packaged goods! In this article, we will discuss the benefits of choosing these types of products, and provide tips on how to avoid making unnecessary waste. We will also provide a list of the most common packaged goods that are packaged in this manner, and suggest ways to recycle or compost them if you choose to purchase them.

If you’re like most people, you probably have a pantry or fridge filled with canned and bottled goods. But have you ever stopped to think about how these products are packaged? In this post, we’ll take a look at the different types of packaging used for canned and bottled goods, and discuss the pros and cons of each. We’ll also share some tips on how to pack your pantry or fridge for maximum efficiency, so you can save money and stay healthy at the same time!

Have you ever wondered what happens to all the bottled and jarred goods that we throw away? Turns out, that a lot of them end up in landfills. In fact, according to the EPA, Americans throw away enough packaged goods every year to build a city the size of Philadelphia! But recycling isn’t the only option – composting is another great way to get these materials back into the ecosystem. In this post, we’ll discuss the benefits of both recycling and composting, and show you how you can start incorporating these sustainable practices into your everyday life.

If you’re anything like us, you love convenience when it comes to your grocery shopping. That’s why bottled and jarred goods are such a popular choice – they’re easy to grab and go, and you don’t have to worry about bringing any food with you on the go. In this post, we’ll take a look at some of the benefits of using packaged goods, and show you how to maximize their convenience. Ready to get started? Let’s go!

Is your food storage going out of date? Check out this list of the top 5 benefits of buying bottled and jarred packaged goods.

Looking for ways to reduce waste each month?

Looking for a way to reduce the amount of waste that you produce each month? Check out our blog post on bottled and jarred packaged goods! In this article, we will discuss the benefits of choosing these types of products, and provide tips on how to avoid making unnecessary waste. We will also provide a list of the most common packaged goods that are packaged in this manner, and suggest ways to recycle or compost them if you choose to purchase them. Lastly, on your online purchases make sure to visit top coupon & deal websites like Refermate to maximize your savings!

Types of Bottled and Jarred Food Packaging

As you can see, the types of food packaging are different from one another. This is why it is important to choose the right packaging for your product based on its quality and taste.

In case you have any queries about types of bottled and jarred food packaging, do leave a comment in the section below.

Depending on the type and brand, most bottled or jarred foods can keep for several months to years without spoiling.

However, if you want to ensure your food stays fresh for longer, you may want to try storing it in a vacuum-sealed bag or glass mason jar instead. These containers will also keep odors at bay and prevent dirt from accumulating inside of them.

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Understanding the Role of a CFO in Managing Healthcare Costs

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From the 80’s to the 90’s and recently to an even greater extent, the whole business ecosystem has undergone important structural and functional changes. A tide-like wave has swept full-force across all industries and the healthcare sector is no exception. The effects of this new reality, impossible to ignore, have led us directly to the evolution and reshaping of various roles and approaches, even ideologies. In such a deep reformation of the general dynamics, the call for change is articulated loudly and clearly. All healthcare facilities interested in their survival and re-blossoming in this new era, must set in motion modern and refreshed plans; strategies and policies that will include and target even the most basic, every day functions.

Chief Financial Officer

The CFO position is one of the roles that has been in the center of these shifts. CFO’s’ functions have become more demanding, complex and holistic; their duties and responsibilities have obtained a more strategic aura. Today, a CFO must be able to design a general plan of action for the facility they work for, must set goals and ambitions, but at the same time must also be able to convey these decisions and moves to the C-suite and board. They must be able to draw a connecting line between grasping an idea and the path that will lead to its realization. To sum it up; in the core of today’s CFO figure we find an amalgam of notions like risk management, innovation, allocation of resources and gainsharing, just to name a few! OR in only two words, a CFO must be an Agent of Change.

Optimal financial performance is essential for the growth of any medical facility, but to achieve this Optimal Performance, everything must work in harmony. Communication and collaboration must be total and fluid; in all departments, and of course, all equipment handled must be in top shape as well.

But at the end of the day, our two old friends cost and debt, are always the two main parameters that will keep most CFO’s awake and worried. For the management of healthcare costs (which are usually high), a modern CFO can no longer suggest and implement mere budget restrictions. The logic of imposing –solely– austerity decisions is a thing of the past. The modern CFO must constantly have an eye on the market that surrounds them, be up-to-speed with all innovative solutions and advantages that this has to offer, assess and analyze them and then try to introduce them to its healthcare facility.

A competent CFO is expected to deliver in multiple areas and to accomplish this laborious task and must be continuously informed and educated (IF they wants to be able to inform and educate). It’s not only the Healthcare sector that is being transformed non-stop. Lately, we witness everyday the importance of trans-disciplinary interconnection. In the same way that “no man is an island” no sector is far apart from any other. Business is a corpus and all its veins communicate with each other!

Medical Equipment IQ

The financial necessities and the budget draw-up of a healthcare facility is heavily depended on medical equipment. Managing its acquisition, maintenance and repair costs in a manner that is efficient and profitable is decisive. Thankfully, nowadays it is possible to obtain high-quality medical devices at a lower cost with the right finance choices.

In our present market ecosystem there are companies and providers that put forth and provide extremely useful solutions. Profitability, flexibility and sustainable leasing plans and strategies are among those. An advantageous equipment leasing deal can influence in an extremely positive way, a medical center’s general financial situation. All types of healthcare facilities can enjoy tremendous gains, turning at last to solutions that combine stability and agility.

Methods that can guarantee reduced costs and that include everything; from the acquisition of the equipment, to the repair and maintenance needs, topped with valuable advice for any issue that might occur, do exist. For instance, the purchase, rent or lease of refurbished medical equipment can be a game changer. We are talking about equipment that can be considered new, as the manufacturers of the medical machines themselves have performed all necessary upgrades; in the software and hardware, ensuring even the existence of spare parts in the future…if needed.  

Solutions

Admittedly, reducing cost is a challenging and oftentimes unpleasant, task that becomes even more demanding when opting for long-term success, built on creative and liberating approaches and not for short-term rushed and facile solutions.

However, a well-prepared, well-trained, bold and experienced CFO will soon discover that the solution might be closer than imagined. A friendly, strong and honest Leasing Provider could be a reliable ally, that would ensure cost-cutting agreements, streamlined workflows and revenue-generating medical equipment; in general, an overall fortification of the organization. And the benefits don’t end here, all profits generated can be invested elsewhere or put aside for future unexpected expenses.

We have said it in the beginning but we feel we must repeat it; in a sector and in a general reality, driven by technological advances and nonstop scientific developments, to remain relevant and artful is a bet that must be won. The new role of the CFO in this ever-changing, constantly-transforming landscape is crucial. To submerge fearlessly into deep blue waters and emerge fully oxygenated is possible. To transform and adapt to new needs can be a joyous challenge. A CFO perfectly aligned with our era will know how to switch the F in CFO for Flexibility and will set the basis for an auto-sufficient, sustainable in ALL fronts, healthy healthcare organization. The right CFO will know that knowledge is applicable creativity.

Cost-optimization, new technologies implementation, and fresh security policies will no longer be parts of a complex equation but the ones of a fruitful answer. A trustworthy Leasing partner will be a stable and robust companion during all ventures through this competitive sector.  Leased equipment, refurbished devices and all kinds of modern, practical approaches to a series of pressing demands is what you should not demand, but require.

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10 Benefits of Birth Control

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10 Benefits of Birth Control
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Birth control has been a helpful innovation for families; not only does it prevent unwanted pregnancy, but it also reduces the possibility of contracting diseases to a large extent.

 

Depending on the method, birth control effectiveness offers a lot of benefits which will be outlined in this article. Have a good read.

10 Benefits of Birth Control

Every method of birth control possesses several benefits, and this depends on the one that suits you. Here are the general benefits of birth control.

1. It Is Convenient

Specific birth control methods are very convenient for couples wishing to avoid pregnancy. Birth control pills for instance are very easy to take because of their petite size.

 

Individuals taking these pills may just have to be cautious of the specific time to take these pills. Aside from that, birth control pills do give couples the rest of their minds during intercourse.

 

They don’t have to worry about pregnancy after sex. All they need to do is to get the required prescription from a nurse or doctor.

2. Prevents Unwanted Hair Growth

Features like excess growth of the body or facial hair can be caused by hormonal imbalance. This is a result of the high levels of androgen, a hormone that is common in men.

 

Birth control pills have been effective in treating such hormonal imbalances by reducing androgen levels in men and women.

3. Reduces Severe Cramps

More women take birth control pills daily to reduce painful cramps. Birth control pills reduce the pain some people experience during ovulation.

 

In essence, it prevents ovulation. The most effective method of birth control for this is hormonal birth control pills.

4. Control Over Your Period

Having an uncontrollable and heavy flow of blood every month can be overwhelming and isn’t a pleasant sight.

 

Birth control pills can help you skip your period at intervals whenever you take placebo pills, hence giving you a comfortable life.

5. Prevents Anemia

There is period-related anemia which can cause nausea, weakness, and chronic fatigue. This is a result of the inability of your red blood cells to transmit oxygen throughout your body.

 

Specific birth control methods can help you skip and reduce monthly blood flow, and can also prevent period-related anemia.

6. Controls Endometriosis

The negative impact of your uterine lining tissue growing outside the uterus is painful and can sponsor unwanted bleeding and swelling.

 

Birth control methods like pills and IUDs can help reduce the impact of endometriosis by preventing the uterine line phase during menstruation.

7. Lowers The Risk of Ovarian Cyst

An ovarian cyst occurs when tiny sacs of fluid which can be solid grow on the ovaries. The cause of ovarian cysts is generally pointed as the result of PCOS; an enlarged ovaries cyst on the outer edges.

 

Birth control helps prevent this ailment by preventing ovulation.

8. Lowers Emotional Impact During Menstruation

The period of blow flow among ladies can affect their mood daily and sometimes lead to a disorder called Premenstrual Dysphoric Disorder (PMDD).

 

This condition could also sponsor depression, short memory, and anxiety among other negative behavior.

 

Birth control combo pills that contain drospirenone and Ethinyl estradiol can help boost your mood during menstruation.

9. Lowers The Risk of Migraine Attacks

One negative symptom of menstruation among ladies is severe migraine attacks which can be triggered by anything that irritates their sight, smell, or taste.

 

Medically, such migraine is attributed to lower levels of estrogen before ovulation. Birth control pills do not only help you skip periods but also menstrual-related migraine.

10. Reduces The Risk of Reproductive Cancer

Specific cancers like ovarian and colorectal can be avoided when you take certain birth control pills. Research shows that women have had lower chances of having reproductive cancers when using birth control pills over the years.

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