CENTER
FOR SENIOR LIVING
1
David Myers Parkway
27100
Cedar Road ˜
Beachwood, Ohio 44122
Beachwood, Ohio 44122
www.menorahpark.org
www.montefiore.org
FOR
MORE INFORMATION, CONTACT: Tamara Strom at Menorah Park (216) 839-6678
FOR
IMMEDIATE RELEASE
Menorah
Park and Montefiore Embark on
Long-Term
Care Insurance Campaign
Two
Cleveland-area long-term-care facilities are using a two-year grant from the Mt. Sinai
Health Care Foundation to educate the public about long-term care insurance options and
benefits
Beachwood – Menorah Park and Montefiore are
launching a pioneering two-year public education campaign on long-term care insurance. The
campaign, made possible by a grant from the Mt. Sinai Health Care Foundation, is targeted
at changing attitudes in the community regarding the need to plan responsibly for future
care needs.
Such a
proactive program is critical to helping safeguard Menorah Park and Montefiore for the
frailest members of our community who truly need the safety net of Medicaid to ensure they
receive the highest quality of care as they age.
By developing
and implementing a campaign such as this, Menorah Park and Montefiore are truly on the
cutting edge of long-term care insurance education.
“Given
the reimbursement uncertainties in health care today, coupled with the political realities
that shape reimbursement and the scope of coverage, it would be
“As
respected health care providers, we share a responsibility to educate the community on the
need and options available for long-term care insurance,” added Keith Myers,
president and chief executive officer of Montefiore. “With the community becoming
increasingly more aware of the benefits of overall financial planning in relation to asset
preservation, the campaign will provide an important and most timely service.”
Specifically,
the program will use advertising, direct mail and educational seminars to spread its
educational messages to adults age 45 and older. The campaign is also targeting lawyers,
accountants and financial planners who advise clients about choices in future care
planning.
By changing
attitudes about long-term care insurance and ultimately providing the impetus for adults
to purchase a product that meets their needs, this program would improve the choices those
individuals will have about the types of services they can access when their health fails.
The more far-reaching goal of helping lessen dependency on government financing for the
community’s nursing home residents and therefore providing more financial stability
to the organizations is an important by-product of the program.
Families who
want to bequeath their money to their children and grandchildren can do so through ethical
planning. When such families opt for “Medicaid planning” through gifting instead
of by true financial planning for long-term care through insurance, the community, the
care providers and the taxpayers all lose.
Most people
would never entertain the idea of foregoing life, health or homeowner’s insurance,
and many states, including Ohio mandate auto insurance. But the majority of Americans
– and Ohioans – don’t give long-term care insurance more than a passing
thought, believing it’s either too expensive of denying they will need long-term
care.
Although many
individuals take advantage of loopholes in the system to qualify for Medicaid, others do
find themselves in a crisis as they begin needing long-term care services and don’t
have the resources to pay for that care or to sustain the costs of long-term care over
time.
“In
America today, people can and do ignore the risk of long-term care, avoid private
insurance premiums, wait to see if they ever need institutional care, and transfer any
catastrophic long-term care costs to the taxpayers if and when the dreaded event
occurs,” according to the Center for Long-Term Care Financing, a national non-profit
organization in Seattle attempting to affect changes in public policy. “Because this
is true, most people hesitate to pay long-term care insurance premiums for protection the
government is giving away.”
Long-term
care insurance is not the right choice for everyone, but as part of an overall financial
plan, such can buffer the costs of long-term care and protect a family with assets at the
same time. This solution is the ethical way to leave a legacy for the next generation
without using loopholes to gift away assets a family wants to preserve.
The radio and
print advertising program is already under way and the educational seminars start November
27. For more information, contact Tamara Strom at Menorah Park at 216-839-6678.