Mike Datlof, Certified Senior Solutions Specialist

Wednesday’s program was led by Mike Datlof, a local certified senior solutions specialist. Mike has been in the long-term care insurance and Medicare industry since 2001. He played a major role in establishing the Broker Services division of AMAC, the nations’ largest conservative senior’s organization.

“What’s your plan?” That was the question Mike asked members on Wednesday. At least 70% of people over the age of 65 will need long-term care services. It is important for everyone to plan your exit strategy. It is also important to consider long-term care insurance. That is what pays for care when you can’t take care of yourself and do the things you take for granted now- the six activities of daily living. Those include bathing, dressing, eating, toileting, transferring, and continence. 

Who pays for long term care? You may think health insurance, Medicare, or Medicaid will cover long-term care but unfortunately, the cost falls upon you. Long-term care insurance is right for you if you can answer yes to the following:

• If you can health qualify
• If you can recognize the need
• If it is affordable
• If you see the wisdom of transferring the risk
• If the coverage fits your needs
• If you are a planner

Solutions would include being wealthy enough to pay for it yourself, be poor enough to qualify for Medicaid, or be insured. If you do not have insurance, you ARE the insurance company. 

The most shocking information Mike had to share was that the cost of care for one year. Currently, the national average for in-home care costs $43,372 (44 hours/week), $39,600 for assisted living, and a private room in a nursing home will run you about $81,030.

In just fifteen years from now, the price for long-term care will double. 

So you must start planning early. A good plan takes into account the cost of care where you retire, takes inflation into account, fits your budget, and one that gives you peace of mind. 

Contact information is provided below if you would like to contact Mike Dotlof regarding your plan, policy, or any questions you may have.

Mike Datlof