tag:blogger.com,1999:blog-48610842544686931292024-03-12T18:52:03.878-07:00Through the MazeInformation of interest to my clients. Since most of my clients are of Medicare age a large portion, although not all, of the posts will be for people of that age range. Will also have information on the Health Care Reform Act and what it has done, or have not done, to the insurance world.Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-4861084254468693129.post-34117245747169900532013-02-01T10:09:00.000-07:002013-02-01T10:11:06.262-07:00BRANDED AND GENERIC MEDICATION<h2 style="text-align: center;">
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<span style="color: #b45f06;">What is a generic medication? What is the difference between generic medicine and branded medicine? This is a question that many of my clients have asked me in the past.</span><br />
<span style="color: #b45f06;"><br />The generic name of a medicine is its chemical name, or the name of the active ingredient present in the medicine. The brand name is a different name that a manufacturer gives it, like a nickname. </span><span style="color: #b45f06;"> usually on the
basis that it can be recognized, pronounced and remembered by health
professionals and members of the public.</span><br />
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<span style="color: #b45f06;">Generic medications have the exact same active ingredients as the branded medicine; the only difference is the name and the marketing campaign behind it. All generic medications must pass through the same approval processes as the branded ones. </span><br />
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<span style="color: #b45f06;">The Food and Drug Administration (FDA) makes sure that all generic medications have the exact strength, form, and active ingredients as branded medication. The inactive ingredients, such as colorings and fillers, may be different in branded and generic medicines, but they must also meet strict FDA standards and guidelines.</span><br />
<span style="color: #b45f06;"><br />However, generic medicines are available only after the patent the original drug manufacturer holds for its brand name expires. So generic versions of newer medicines may not be available today, but<br />may be several years from now. </span><br />
<br />
<span style="color: #b45f06;">If there isn't any generic version of an expensive brand name medication there may be a generic equivalent. A generic equivalent does not have the same active ingredients but have been shown to have the same medical results.</span><br />
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<span style="color: #b45f06;">Generic medicines are as safe and effective as any branded medicine, since they are subjected to the same quality tests and manufacturing processes as the name brand medicine. Many states now require pharmacists to fill prescriptions with generic equivalents, if they are available.</span><br />
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<span style="color: #6fa8dc;">WHAT ABOUT OVER THE COUNTER MEDICATIONS?</span></h3>
<span style="color: #b45f06;">When you buy medicines without a prescription to treat minor
ailments you can usually be sure that generic or own-brand medicines will be
cheaper than their branded equivalents. As long as both medicines contain
exactly the same active ingredients at the same strength (always check the
packaging), the generic or own-brand medicine will ultimately have exactly the
same effect as the branded one and thus could save you money. </span><br />
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Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-61371030758773095932012-07-31T16:16:00.001-07:002012-07-31T16:30:03.937-07:00<h2 style="text-align: center;">
<span style="color: #3d85c6; font-family: Verdana, sans-serif; font-size: x-large;">MEDICARE PART B PREMIUMS</span></h2>
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<span style="color: #e69138; font-family: Verdana, sans-serif;">There are several emails going around stating how much "0bamacare" is going to increase Part B premiums. One email says the premium will be $247 per month by 2014.</span></div>
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<span style="color: #e69138; font-family: Verdana, sans-serif;">Rest easy ▬ this email is incorrect.</span><br />
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<span style="font-family: Verdana, sans-serif;"><span style="color: #e69138;">Medicare Part B premiums are not directly affected by the Affordable Care Act. The premiums are set by two regulations that have been in effect for decades.</span> </span><br />
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<span style="color: #45818e; font-family: Verdana;"><strong>The Official Formula</strong></span><br />
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<span style="color: #e69138; font-family: Verdana, sans-serif;">The official formula states that Medicare premiums are to be based on the previous years' Medicare Part B healthcare costs. The federal government (i.e. your taxes) pays 75% of the premium and you pay 25% of the premium. After you pay the premium you are then responsible for an additional 20% of YOUR Part B costs. </span><br />
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<span style="color: #e69138; font-family: Verdana, sans-serif;">So the 2014 costs, which will be announced in late 2013, will be based on Medicare costs of 2012. This won't be known until 1. we get done with 2012 and 2. the government has time to crunch the figures.</span><br />
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<span style="color: #45818e; font-family: Verdana, sans-serif;"><strong>An Even Older Law</strong></span><br />
<br />
<span style="color: #e69138; font-family: Verdana, sans-serif;">Now, another regulation that went into effect prior to the premium formula states that the premium is also tied to the Cost of Living Adjustment (COLA). This regulation affected the premiums in 2010 and 2011 and prohibits a premium increase in any year that there is no Social Security COLA. This held most people's premiums at the 2009 level of $96.40.</span><br />
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<span style="color: #e69138; font-family: Verdana, sans-serif;">However, those who did not have their Part B premium withheld by Social Security and those brand new to Medicare did not benefit from the regulation. In fact, they were hurt because of the fact that most people did not see an increase but healthcare costs did increase. The premium was for 2010 and 2011 was $110.50 and $115.40 respectively. We had a COLA adjustment for 2012 and everyone's premium leveled out to $99.90 (with the exception of those who are high income and pay a surcharged premium).</span><br />
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<span style="color: #45818e; font-family: Verdana;"><strong>When will we know?</strong></span><br />
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<span style="color: #e69138; font-family: Verdana;">Medicare generally makes the next year premium announcement in late September or early October so we should know the new amounts soon.</span><br />
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<span style="color: #45818e; font-family: Verdana;"><strong>How does the Affordable Care Act affect premiums?</strong></span><br />
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<span style="color: #e69138; font-family: Verdana;">As I said, indirectly. The Act is supposed to lower health care costs. If it does, then Part B premiums will decrease. If not...maybe it won't go up as fast.</span><br />
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<br />Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-72588250096779435422012-07-10T15:45:00.002-07:002012-07-10T16:04:00.615-07:00<h2 style="text-align: center;">
<span style="color: #3d85c6; font-size: x-large;">HealthCare Reform and the New Taxes</span></h2>
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<span style="color: #e69138;">With the recent Supreme Court ruling we now have a new tax. The penalty for not having any insurance coverage starting in 2014 is now called a tax, and therefore is ruled Consitutional. However, this post will give you information on all of the other taxes that were already in the Act.</span><br />
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<span style="color: #45818e;">Taxes on Individuals:</span> </h3>
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<span style="color: #e69138;">►The first tax is, of course, the mandate. Currently the tax is supposed to be $95 in 2014, $325 in 2015 and $695 in 2016. After 2016, the penalty will be adjusted for inflation. However, this will likely be increased prior to 2014 so don't hold your breath.</span><br />
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<span style="color: #e69138;">►The second tax is an additional 0.9 percent Medicare tax on earned income in excess of $200,000 ($250,000 for families).</span><br />
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<span style="color: #e69138;">►The third tax is wealthier Seniors are paying a higher Part D premium. This is not a tax per se but I'm including it because it is revenue going directly to the government.</span><br />
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<span style="color: #e69138;">►The fourth tax is the t<span style="font-family: Times New Roman;">ax deduction for
Part D retiree drug subsidy employers receive will be eliminated beginning in 2013.</span></span><br />
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<span style="color: #e69138;">►The fifth tax is if you have an adjusted gross income (AGI) over $200,000 ($250,000 for joint filers) you will also pay a 3.8 percent Medicare tax on unearned income, such as interest, dividends, rents, royalties and certain capital gains. Retirement plan distributions aren’t subject to this tax.</span><br />
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<span style="color: #e69138;">►The sixth tax is the threshold for deducting unreimbursed medical expenses, which will be increased from 7.5 percent of AGI to 10 percent of AGI in 2013. Most places do not list this as a tax, but if you can't deduct medical expenses from your taxes it is in effect a tax.</span><br />
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<span style="color: #45818e;">Taxes on Employers:</span></h3>
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<span style="color: #e69138;">Some people do not consider taxes on an employer to have any affect on them. However, if the employer is paying a tax they are not paying you a higher salary.</span><br />
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<span style="color: #e69138;">►Employers with 50 or more full-time workers that don’t offer coverage will be charged $2,000 per full-time employee. However, the employer’s first 30 employees will be excluded from this assessment.</span><br />
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<span style="color: #e69138;">►Employers who do offer coverage could be subject to penalties, if any of their workers receives a premium tax credit. In this case, employers will be charged either $3,000 for each employee receiving the tax credit or $2,000 for each full-time employee, whichever is less. Again, the first 30 full-time employees will be excluded from this assessment. This means your employer will be penalized if you don't get on their insurance. What this will do to a couple who both work and both have coverage from their employer will remain to be seen.</span><br />
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<span style="color: #e69138;">►Employers with fewer than 50 full-time employees aren’t subject to these penalties.</span><br />
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<span style="color: #45818e;">Taxes on Business:</span></h3>
<br />
<span style="color: #e69138;">All taxes on a business is passed along to the consumer, so this will have an affect on you every time you buy from these business.</span><br />
<br />
<span style="color: #e69138;">►10 percent tax on indoor UV tanning services went into effect in 2010.</span><br />
<br />
<span style="color: #e69138;">►Manufacturers and importers of brand-name drugs began paying an annual fee in 2012, starting at $2.8 billion. This, along with the Part D subsidy, has resulted in an increase in medications.</span><br />
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<span style="color: #e69138;">►2.3 percent excise tax on medical devices goes into effect in 2013. This will increase health care costs.</span><br />
<br />
<span style="color: #e69138;">►Health insurance companies will start paying an annual fee in 2014, starting at $8 billion. This will increase health insurance premiums.</span><br />
<br />
<span style="color: #e69138;">►Insurers that offer high-premium plans will be subject to a 40 percent nonrefundable excise tax. This will result in fewer businesses offering the best plan available.</span><br />
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<span style="color: #e69138;">Tax Credits:</span><br />
<br />
<span style="color: #e69138;">Since we are talking about taxes we must be fair and list the tax credits. </span><br />
<br />
<span style="color: #e69138;">►</span><span style="color: #e69138;">In 2014, people with income between 133 percent and 400 percent of the federal poverty level will become eligible for tax credits or cost-sharing subsidies to help cover the cost of insurance. The amount of these credits will vary, depending on income. <a href="http://www.yourhealthplanadvisor.com/FPL.html" target="_blank">You can see how your income stacks up here.</a> People with income 133% or less will automatically be placed on Medicaid.</span><br />
<br />
<span style="color: #e69138;">►Businesses are eligible for a tax credit worth up to 35 percent of their share of their employees’ health premiums if they meet the following conditions:</span><br />
<span style="color: #e69138;">→ They employ fewer than 25 full-time equivalent workers;</span><br />
<span style="color: #e69138;">→ Their annual average wage is less than $50,000; and</span><br />
<span style="color: #e69138;">→ They cover at least 50 percent of the cost of health insurance for an employee with single coverage.</span><br />
<span style="color: #e69138;">This tax credit is only temporary and is due to be eliminated after 2 years.</span><br />
<br />Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-46351971971254599202012-06-19T17:35:00.000-07:002012-06-19T17:52:39.813-07:00<h2 style="text-align: center;">
<span style="color: cyan; font-family: "Helvetica Neue", Arial, Helvetica, sans-serif; font-size: x-large;">Alzheimer's Warning Signs</span></h2>
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<span style="font-family: Verdana, sans-serif;">If you think you or a loved one may have Alzheimer's early detection is at the forefront. The Alzheimer's Association has developed a worksheet listing the 10 main warning signs of Alzheimer's, which you can fill out and take to your doctor. You can access the paper on the </span><a href="http://www.yourhealthplanadvisor.com/SeniorResources.html" target="_blank"><span style="font-family: Verdana, sans-serif;">Senior Resources</span></a><span style="font-family: Verdana, sans-serif;"> page at my website.</span></div>
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<span style="font-family: Verdana, sans-serif;">The 10 early warning signs are:</span></div>
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<span style="font-family: Verdana, sans-serif;">1. Memory loss that disrupts daily life. <br />
</span><span style="font-family: Verdana, sans-serif;">2. Challenges in planning or solving problems. <br />
</span><span style="font-family: Verdana, sans-serif;">3. Difficulty completing familiar tasks at home, at work or at leisure.<br />
4. Confusion with time or place. 5. Trouble understanding visual images and spatial relationships.<br />
6. New problems with words in speaking or writing.<br />
</span><span style="font-family: Verdana, sans-serif;">7. Misplacing things and losing the ability to retrace steps. <br />
</span><span style="font-family: Verdana, sans-serif;">8. Decreased or poor judgment. <br />
</span><span style="font-family: Verdana, sans-serif;">9. Withdrawal from work or social activities. <br />
10. Changes in mood and personality. </span><br />
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<span style="font-family: Verdana, sans-serif;">
</span><span style="font-family: Verdana, sans-serif;">The worksheet goes into more detail about each warning sign, which will help you determine if the warning sign is warranted.</span><br />
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<span style="font-family: Verdana;">If you know of someone who already has Alzheimer's and are in need of an ID bracelet scroll down this page and check out the ID bracelets we have for sale.</span>Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-40211094858895718302011-07-20T17:17:00.001-07:002011-07-20T17:20:34.665-07:00Children's Health Insurance<span style="color: #e69138;">Are you looking for a health insurance policy just for your child? Children's health insurance, or Child-Only policies, have almost completely disappeared.</span><br />
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<div style="text-align: center;"><span style="color: blue;"><strong>REASONS FOR WANTING A CHILD-ONLY POLICY</strong></span></div><br />
<span style="color: #e69138;">Many parents will get insurance just on their kids. Sometimes the parents cannot afford to get insurance on themselves but want coverage on their kids. Sometimes the parents are uninsurable. Sometimes the parents are divorced; the kid lives with one parent but the other parent pays for the insurance. Sometimes the parent doesn't want insurance for whatever reason, but the kids needs it to play sports in school. Sometimes the mother is still on her parents' insurance policy (which is now allowed to age 26, another consequence of the Act).</span><br />
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<div style="text-align: center;"><span style="color: blue;"><strong>WHAT HAPPENED IN REAL LIFE</strong></span></div><br />
<span style="color: #e69138;">Child-Only policies are no longer available. This is a direct result of the HealthCare Reform Act, also known as the "Affordable Care Act" which did little to making care affordable. A part of the bill stated that insurance companies cannot decline to accept any child because of a pre-existing health condition. Sounds good on the surface - who can really oppose children getting treatment? What happened in real life, however, is the insurance companies just stopped accept all children unless there was a parent or guardian also included on the policy. </span><br />
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<span style="color: #e69138;">The insurance companies did this to help keep premiums from increasing even more than they have. To get a policy by yourself you now must be age 19 or older.</span><br />
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<div style="text-align: center;"><span style="color: blue;"><strong>THE SOLUTION</strong></span></div><br />
<span style="color: #e69138;">If you need Child-Only health insurance there is one plan in Arizona that will still write a child-only policy. They will write Child-Only policies on kids age 2 through 18. The policy is a short term medical policy, and you can</span> <a href="http://www.yourhealthplanadvisor.com/Child%20Only.html">get more information here</a>. <br />
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<span style="color: #e69138;">The problem with a short term medical is it doesn't cover pre-existing conditions and the policy will expire after the term is over (usually 6 to 12 months). You can reapply for another term upon expiration but any health conditions that may have developed during the previous term will not be covered. As an example, a child breaks a leg and goes to the ER to get it set. The policy covered the broken leg (after deductible) but terminated two days later. The parent applies for a new policy. The new policy will not cover the follow up visits for the broken leg, so the parent is now responsible for paying to remove the cast.</span><br />
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<span style="color: #e69138;">When you go on my</span> <a href="http://www.yourhealthplanadvisor.com/Child%20Only.html">website</a> <span style="color: #e69138;">there will be one company that has 3 options. Give me a call with questions. As of now this is your only option other than through the state Medicaid department.</span>Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-5527789389667311312011-07-11T15:34:00.001-07:002011-07-11T15:38:22.542-07:00MAYBE<span style="color: #e69138;">I came across this poem on the website LinkedIn. It was attributed to a "care magazine" but no other information was given. </span><br />
<span style="color: #e69138;"><br />
</span><br />
<span style="color: #e69138;">It should be taken as a message of hope and understanding so Alzheimer's Disease can be better understood.</span><br />
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<span style="color: #b45f06; font-size: large;"><strong>MAYBE</strong></span><br />
<span style="color: blue;"><strong>When I wander....................................... <br />
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don't tell me to come and sit down ; <br />
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wander with me, <br />
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it may be because I am hungry, thirsty, need the toilet, <br />
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or, maybe I just need to stretch my legs.......... <br />
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<br />
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When I call for my mother.........(even though I'm ninety!) <br />
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don't tell me she has died; <br />
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reassure me, cuddle me, ask me about her. <br />
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It may be that I am looking for the security that my mother <br />
<br />
once gave................. <br />
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When I shout out................. <br />
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please don't ask me to be quiet......or walk by <br />
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I am trying to tell you something, <br />
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but have difficulty in telling you what <br />
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be patient…………Try to find out, <br />
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I may be in pain………. <br />
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<br />
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When I become agitated or appear angry……………. <br />
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Please don’t reach for the drugs first, <br />
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I am trying to tell you something, <br />
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It may be too hot….. too bright……too noisy, <br />
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Or maybe it’s because I am missing my loved ones. <br />
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Try to find out……first…… <br />
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When I don’t eat my dinner or drink my tea…… <br />
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It may be because I’ve forgotten how to; <br />
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Show me the what to do….remind me, <br />
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It may be that I just need to hold my knife and fork <br />
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I may know what to do then……… <br />
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When I push you away when you trying to help me……, <br />
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A wash, perhaps, or getting dressed. <br />
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Maybe it’s because I have forgotten what you have said; <br />
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Keep telling me what you are doing……., <br />
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Over and over and over………… <br />
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Maybe others will think you’re the one that needs the help! <br />
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With all my thoughts and maybes, <br />
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Perhaps it will be you…..who reaches my thoughts…… <br />
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Understands my fears and will make me feel safe….. <br />
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Maybe it will be you…..that I need to thank <br />
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If only I knew how……………..</strong></span><br />
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<span style="color: #e69138;">Please pass this on to any caregivers which you may be aware. It may also be of interest to family members of Alzheimer's and Dementia patients. </span><br />
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</span><br />
<span style="color: #e69138;">You can find more information on my </span><a href="http://www.yourhealthplanadvisor.com/SeniorResources.html"><span style="color: #e69138;">Senior Resources</span></a><span style="color: #e69138;"> page.</span>Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-62119957804592458622011-07-11T14:51:00.001-07:002011-07-11T15:39:47.007-07:00Now you can find my Newsletter on my Website!<span style="color: #e69138;">This is going to be a short post, as I've been away from the office for several days and have a lot of catching up to do. I now have a link to my newsletter on my website, along with links to Medicare publications and other informative links. Please visit the page on my </span><a href="http://www.yourhealthplanadvisor.com/Medicare%20Publications.html"><span style="color: #e69138;">website</span></a><span style="color: #e69138;"> and check out my newsletter. If you like the newsletter please email me and I'll send you the newsletter via email each month.</span>Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-15117605854042406202011-06-28T20:39:00.001-07:002011-06-28T20:41:34.248-07:00Alzheimer's Wandering ID Bracelet<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="http://www.neverlostwristbands.com/?Click=135" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="145" i$="true" src="http://4.bp.blogspot.com/-4gj7lPeWSe0/TgqcWICabMI/AAAAAAAAAAw/tzq70Ciabt0/s320/NeverLost+Logo.jpg" width="320" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;">Here is a product that would make a great gift for anyone who has Alzheimer's or Dementia and would even make a good ID bracelet for someone with Autism. It is a soft bracelet that is very difficult to remove. </span></div><span style="color: #b45f06;"><br />
</span><br />
<span style="color: #b45f06;">60% of Alzheimer's patients wander away from their residence. I'm sure you've seen the news reports of an "elderly person that has been missing" and then they go on to describe that person. </span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="http://www.neverlostwristbands.com/?Click=135" style="margin-left: auto; margin-right: auto;"><img border="0" i$="true" src="http://1.bp.blogspot.com/-bbXEmZM42lM/Tgqc7A-1NUI/AAAAAAAAAA0/Na0-qr5cfD4/s1600/NeverLost+Wristband.bmp" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">click on this picture for more information</td></tr>
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</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;">People with dementia typically wander on foot and are found within 5 miles of their home. However, individuals have also been reported lost who have left in their own cars or on public transportation. These people are sometimes found not just in the next county over but maybe even the next state over.</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;"><br />
</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;">People who become lost are often found in other people's yards, retail businesses, along streets and highways, and in public buildings like libraries and hospitals. Occasionally they are found in remote areas such as woods or fields. </span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;"><br />
</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;">Most people with dementia who become lost in the community are safely returned to their caregivers. However, if not found within the first 24 hours the chance for a safe return is dismal.</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;"><br />
</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;">The ID bracelet will have the wanderers name and the caretakers phone number so they can be returned quickly without upsetting the person even more.</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;"><br />
</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;">If you click on the picture or logo above you'll be taken to the NeverLost Wristband's website where you can purchase these wristbands for a very reasonable cost. And in case the person gets lost inside the home there are also bathroom and bedroom signs available.</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: #b45f06;"><br />
</span></div>Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-2349448844504657532011-06-21T14:58:00.001-07:002011-06-22T12:44:33.166-07:00How much are you saving to care for your parents?<div style="text-align: center;"><span style="color: blue; font-size: large;"><strong>ARE YOU SAVING ENOUGH?</strong></span></div><br />
<span style="color: #b45f06;">Last week I found out about a 2008 study that MetLife published concerning the cost of being a caregiver. It is an eye opening study. </span><br />
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<span style="color: #b45f06;">According to the MetLife study, n<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;">early 10 million adult children over the age of 50 care for their aging parents. These family caregivers are themselves aging as well as providing care at a time when they also need to be planning and saving for their own retirement. The percentage of people over 50 who are either part or full time has more than tripled in the last 15 years. 3% of men and 9% of women provided at least basic parental care in 1994. Partially because people are living longer by 2008 that figure had increase to 17% of men and 28% of women.</span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06; font-family: Frutiger-Roman; font-size: small;">People who care for their parents are more likely to cut their working hours, or to give up working totally. The study found that the cost in lost wages, pensions, and social security benefits average $283,716 for men caregivers and $324,044 for women caregivers. Women are more likely to give up their jobs to be an at home caregiver while men are more likely to offer financial support but still work part time. People 50+ who give up their jobs to care for a parent are unlikely to find the same status employment after their caretaking "jobs" are over. In today's economy it can be hard to find a job, let alone a job that paid what you previous were making. Many people are taking jobs with fewer benefits and lower pay.</span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06;">In addition to the monetary costs are the ancillary costs. This includes the fact that 31%<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"> of adult caregivers report stress, anxiety, or depression; 70% report making work accommodations due to caregiving; and 53% say that they lose time with friends and family. With the declining health of the caregiver will come increased costs in medical care and medications. </span></span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06;">You can access the study through my </span><a href="http://www.yourhealthplanadvisor.com/Medicare%20Publications.html"><span style="color: #b45f06;">website</span></a><span style="color: #b45f06;">.</span></span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: blue; font-family: Frutiger-Roman; font-size: small;">So what is the answer? </span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06; font-family: Frutiger-Roman; font-size: small;">Over half of us will need some extra care in the future. If you don't want to place this burden on your son or daughter you may want to consider getting a Long Term Care Insurance policy. This study concerns adult children. However, spouses also have similar cost to their body and soul as well as to their retirement fund. </span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06;">If you are so concerned you may </span><a href="http://www.yourhealthplanadvisor.com/contact.html"><span style="color: #b45f06;">contact me</span></a><span style="color: #b45f06;"> for more information on Long Term Care. One of the worse parts of my job is having someone call me wanting information on or ideas of how to care for their parent AFTER the parent needs the care and is therefore ineligible. A Long Term Care policy will not take the place of your loving care but it can make it much easier and definitely less stressful. Long Term Care is not just for nursing homes but also can be used for adult day care and in-home care.</span></span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06;">Remember, Medicare does not generally pay for </span><a href="http://www.yourhealthplanadvisor.com/long-term-care.html"><span style="color: #b45f06;">Long Term Care</span></a><span style="color: #b45f06;">. Medicare will pay for UP TO 100 days in a skilled nursing facility and is based on a continued skilled need. In addition, neither Medicare nor Medicare Advantage plans will cover 100% of this care. Also, with Medicare and Medicare Supplements there is also the requirement that you've spent 3 days in the hospital. With some surgeries you are only in the hospital overnight before you are discharged.</span></span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: blue;">What is a skilled need?</span> </span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06; font-family: Frutiger-Roman; font-size: small;">One common skilled need is rehabilitation or therapy, including occupational, speech, and physical therapies, and is usually following a surgery or stroke. Other common skilled needs are needing a feeding tube or needing wound care. </span></span></span></span><br />
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<span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="font-family: Frutiger-Roman; font-size: small;"><span style="color: #b45f06; font-family: Frutiger-Roman; font-size: small;">One caveat to the "skilled need". If the doctor tells Medicare that you are not going to get better and will need this care continually Medicare will then consider your care to be long term instead of short term. They will discontinue paying for the facility even though you still have some of your 100 days left.</span></span></span></span>Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0tag:blogger.com,1999:blog-4861084254468693129.post-55858309664614028092011-06-20T17:32:00.000-07:002011-06-20T17:32:49.304-07:00Introducing "Through the Maze"Hi Everyone,<br />
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Welcome to my new blog. <br />
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As your guide through the Medicare Maze <em>AND</em> the Insurance Maze we're going to be discussing many different subjects. Since I specialize in Medicare, and a large percentage of my clients are on Medicare, subjects of interest to those over 65 will probably dominate this blog. We'll be talking about the many different insurance policies that help get our life back to normal, or at least help us pay for getting our life back to normal. We'll be talking about the HealthCare Reform Act and what it will change for both those over and under 65. We'll be talking about the unintended consequences of the HealthCare Reform Act because, as you know, the insurance world is a complicated maze.<br />
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In addition, we will also discuss other things in life that interest me and my clients. We'll talk about products that can make our life better or safer. We'll talk about books or web articles of interest. We will talk about social clubs or informational classes. I'll be answering any questions that you may have so feel free to leave a comment, email, or phone me with your questions. Your questions do not have to relate to any of my previous blogs or even to insurance. <br />
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Just to give you an idea of what's to come, my first few blogs will be on how much does a caretaker actually spend while tending a relative, how a new ID bracelet can help Alzheimer's patients get back home, a "new" sport that I'd never heard of before, and one of the biggest subjects these day - maternity coverage and the missing maternity rider.Arnold Hunter, CSA, LUTCFhttp://www.blogger.com/profile/15875088724319378856noreply@blogger.com0