Episode 67

March 01, 2024


#67 | Bryan Herdt | How Do I Financially Plan Around Medicare?

Hosted by

Tony Siebers Bina Colman
#67 | Bryan Herdt | How Do I Financially Plan Around Medicare?
Parent Projects - Aging In America
#67 | Bryan Herdt | How Do I Financially Plan Around Medicare?

Mar 01 2024 | 00:38:30


Show Notes

Bryan is one of the original co-founders of LTCPG. His agency Innovative Broker Partners is located in Mesa, Arizona. He began his insurance career in 1998 with GE Capital as a captive long-term care agent. Innovative Broker Partners has partnered with financial planning organizations, credit unions, law firms, and other senior-focused organizations to assist their clients and members in managing their insurance strategies post-retirement. The unique structure of LTCPG along with Bryan’s diverse understanding of the long-term care industry with experience in field sales, agent training, agent recruiting, and time as an executive with one of the largest LTC carriers in the country have provided him with invaluable insights to building an innovative business model that has centered on long-term care.




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00:00 – Intro

01:15 – Welcome to the Show

02:49 – Aspects of the Market

04:42 – Being Proactive for Our Parents

08:43 – When Finances and Healthcare Collide

16:09 – Medicaid System

28:00 – Start Putting the Puzzle Together

32:55 – More Information

36:29 – Part 2 Promo

37:08 – Outro



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Episode Transcript

[00:00:00] Speaker A: The resolve for this now, and it's unfortunate, is, oh, man, the kids like, oh, man, we need care. Mom and dad, you know, we're going to have to pay for this. We got to sell the house. We got to start giving the money away. There are some guidelines, some very specific rules of how you can diverse yourself of that money to qualify for Medicaid. But the tragedy of this is that when you are now eligible for Medicaid, you don't get to pick where you go and the kids don't get to pick where you go. So now you're going to have to go. You're going to receive care from a facility that's willing to take payment from the state. Now, I am not going to sit here and say, oh, my gosh, you're going to be in the worst possible facilities in the world. That is not true. And you might not be in a really nice one either. The fact is you're not going to get to pick. You're going to go where the state sends you and you're not going to get paid for at home. Very minimal, very minimal support for care at home. In most cases, you're going to have to move into a care community. [00:01:14] Speaker B: Well, welcome in this week, if you're working your way through Medicare, maybe even Medicaid, but Social Security and you're just trying to figure out if mom and dad have enough money to make it to the end, chances are you found yourself doing a lot of math and you're probably trying to figure out what you can stretch where it is. On top of all of that enters time, the unknowns, medical expenses, and things get pretty tricky in a hurry. We've got Brian Hurd with us today, LTCI consulting, but also innovative broker partners. He's got a really unique aspect and approach into the marketplace that looks at the totality of the challenges, and he's been doing it for about two decades now. He's a go to person for us as somebody I pick up the phone to talk to when I'm looking for stuff in our situations. And I think you're going to learn a lot from him today. Brian, thanks for joining us. Stay on the Parent projects podcast. Man. [00:02:09] Speaker A: Hi, Joni. Always look forward to this conversation with you. So thank you for having me. [00:02:13] Speaker B: Well, you have so much to offer in this conversation. Again, I really mean it. Your holistic approach and the understanding of what things look like before you get to them and the fact that you have so much experience watching people cross that threshold and have to figure out where to go and how to work their way through it, I think gives you that really valuable perspective to help families because that are going through a parent project because quite honestly, most of the time we're behind the a ball. Right. We're trying to catch up a bit. [00:02:45] Speaker A: Absolutely. [00:02:45] Speaker B: Yeah. I love having you down here. Hey, real quick, why don't you tell us a little bit about innovative broker partners, what that approach is into the marketplace, some of the other aspects that you look into the market. Tell us about you. [00:02:55] Speaker A: Yeah, thank you for that. So started out over two decades ago, really just focusing on long term care planning. And as I've spent all these years in the mature market, dealing with insurance solutions really has put us where we are today and really just responding to a need. And what happens is as we work towards retirement and then we're moving into that stage of our life. Transitioning insurance is really, you know, moving from, know, from health insurance, from your employer group into Medicare. What do I do with disability? What do I do with my life? Know, do I have adequate long term care planning? Do I have adequate funding for paid care? These are things we've just learned. We've listened, really, we've listened to our clients and watched the challenges that they've had and then just done our best over the years to respond to those so innovative broker partners. Really, we have become really the HR department post retirement, and that's really an easy way for me to kind of explain what we do because it's pretty unique what we do here. [00:04:10] Speaker B: Well, I think what that touches, too, is the same way that you've got a lot of different benefits that play a role in managing how you take care of your family at home or wherever you're going through? You guys have a lot of that to walk through, too, man agencies, government agencies, and they don't all work at the same thing. They don't all communicate the same time. Well, I think I'll save that for our discussion today. But maybe let's really dive in here and let's start at maybe that perfect state, somebody with a parent project they're getting some eyes on ahead of time. You recognize that. You want to make an assessment. You want to make an honest assessment as to what's going on with your parents in that accumulation phase of life. What are people looking for in general? And I know it's quick for us to think about us, and we know maybe what we're doing in 401 ks for that. But what's those major changes that are about to happen as we come out of that, that we should be looking for and familiar with, with our parents. [00:05:11] Speaker A: Yeah, so good. So the issue is here is we've got so many millions of kids that are watching aging parents, and we're also got one eye over here on the kids in their twenty s and thirty s and forty s and grandkids, and we're trying to keep all this together. Well, if we could be more proactive about this and really understand more about what might be to come, it will really help a lot of the kids really understand how to formalize a way to really help aging parents without it always being a reactive situation. Can we do some things to be a little bit more proactive, understanding their world and what they may be experiencing and trying to get a little ahead of it. And that's really, Tony, that's the key here, because here it is in a general sense. So our parents, ourselves, our parents in accumulation stage, saving money, putting away money, doing the 401K thing, putting money away, do I got money in my roth, do I have annuities, do I have retirement income, retirement property, whatever that might be, and we're working, working, and then we're not working anymore. Well, what's happening as we move into this retirement world is we have this healthcare world over here that's kind of looming over here that people are really trying to get their head around. So what's happening is every birthday we have, as we age, our financial world, and that healthcare world is coming closer and closer and closer together the older we get. So what happens, and statistically at the age of 65, is where we engage with most of our clients right prior to the Medicare eligibility stage. And what happens is these insurance transitions start to shift over and they're really not sure what to do with these. But what happens is when those two worlds touch or they overlap, the kids inevitably get involved in this and really heavily on a spouse, if there's a spouse. This is an emotional, impactful time when somebody gets to the point, 70% of us at age 65 are going to lose the ability to live independently. Now, Tony, look, I'm not saying everybody's going into a nursing home or going into a memory care center. I'm not saying that. And that is still the exception to the rule. But the loss of independence, being able to manage our own independence until the end of our life, 70% of us will not be able to do that until our last day. And that's where those two worlds collide and the kids are thrown in to help, and we're not really sure. Exactly what to do and what the variables are to solve the problem at hand. [00:08:16] Speaker B: When you and I have had conversations about this previously, you've talked about the ven diagram where you have circles that start to overlay. And I know we've talked real specifically, I think, in the past on medical starting to touch the retirement, where that comes through, it seems like as you start crossing the threshold and leaving the accumulation phase and moving into full retirement, and that's 65 time now, you kind of have a tax or preservation type of bubble that starts coming into view with all of those things as well. Is that one of the reasons that families start to get involved, or like adult children, or do you see it usually as a last ditch? They're trying to catch up because they've truly crossed into the medical issues and it's beyond cash. Preservation at this point in time is about stopping the bleeding or trying to figure out what that way ahead is going to be. [00:09:12] Speaker A: Here's what happens, Tony, unfortunately, what happens when those two worlds collide and we create, now we've got the financial world, we've got the Venn diagram, and we've got the healthcare world. What happens is the spouse or the kids or the power of attorney or the fiduciary is rushing in. We're making emotional, hasty financial decisions, we're taking out loans, we're liquidating property, and maybe even starting a GoFundme page. And I don't mean that to be funny. That does happen. And so we've got this shortfall between the cost of the care and what we really plan financially to cover that, right? So here's kind of a lead in to what that looks like. [00:10:00] Speaker B: And by the way, you're not talking about even like dealing with a dementia diagnosis or something specifically off of that. You're just talking in general of a pretty healthy retirement, but being able to go at it. [00:10:12] Speaker A: Right? [00:10:13] Speaker B: Okay. [00:10:13] Speaker A: Yes. I'm talking about somebody in need of custodial care. Okay. It'd be frailty. If I'm aging, it could be an accident. It could be chronic illness. I mean, there's a number of things that can cause you to lose your independence. And when I say that, what I'm saying is the ability to bathe yourself safely, not somebody to get in the tub and scrub you. I just mean it's not a good idea for you to be home alone and take a shower because you're a fall risk. [00:10:42] Speaker B: Sure. [00:10:42] Speaker A: What about getting dressed? Or what about incontinence? What about transferring? Just being able to get out of bed and into the table. What about preparing food? Not consuming it necessarily, but just the labor intensity of preparing your own meals becomes problematic. And then, yes, cognitive impairment, you can't live safely due to cognitive loss. So the first weapon here that people first look at is Medicare, because most of the time, not all the time, believe it or not, our world, our long term care world, right now, 40% of people are under the age of 65 that are needing support with activities of daily living. So I don't want to say, oh, this only happens to us as we get old. That is not true. It most commonly happens. Then that's when we think it's going to happen, but generally on Medicare. So the first call I get from the kids is, Brian, they're sending mom home, she's coming home and we're not prepared for that. Where's Medicare? Why is Medicare not keeping her in the hospital? Or why is Medicare not paying for some care when she comes home? Here's why. Medicare was never designed from custodial care. Medicare is rehabilitative, licensed medical care. If I need physical therapy, occupational therapy, speech therapy, and I'm receiving therapy care from a licensed medical professional in hopes that I'm going to regain my independence, Medicare will pay for that at a level. But what happens is if I'm no longer improving, maybe it's a stroke, or maybe it's a cognitive impairment, or maybe it's a condition where no more therapy is going to help me get back to independence, they're sending me home and the kids are going, oh, well, now what? And the custodial care, which is 94% of all long term care, is not covered by Medicare. So I'm not saying Medicare is a solve for this. Education about what Medicare does and does not do is still a mystery. And most people even on Medicare don't understand that. [00:13:09] Speaker B: Well, I mean, in truth it is, right? You talk about the math problem or the algebra and utilizing x and y, it's AbCDefgh, right? It's an entire Alphabet of supplemental policies that come in and where do they come through? And this picks up this, and this is a part of this, and working your way through that also tends to come at you. It's something, we've almost joked about it in the past of kind of expecting to wake up and have the Medicare ferry kind of sprinkle that knowledge into your head, but it does tend to change so often. So I think what I hear you saying is the basics are fundamental, that it's intended for that rehabilitative care similar to what your work policy might be at that point in time. As we start crossing that threshold into aging, it's not intended for that long term care like palliative care or that care of that custodial care you're talking about, which is you're just kind of maintaining decline and keeping comfortable as you work through. This isn't hospice, by the way, either. [00:14:19] Speaker A: That's exactly right. Hospice. If Medicare does anything well, and I don't want to speak negatively about Medicare, it's amazing. But it's amazing at, you know, now you're terminal, now your end of your life is looming. It's measured to a degree. That's not what we're talking about. We're talking about still living and living a number of years but needing help living, that's what we're talking about. And it happens so often, people just don't really understand that this is kind of more of a reality than it is. We have a greater chance of losing our independence and living than we do living a healthy long life and dying. That's becoming less and less reality. [00:15:06] Speaker B: Right. Well, I think we also see a push in as we see rapid adoption of technology moving pretty quickly, too. It's leaving a generation behind. It's having a difficult time to catch up. Primarily, I think in the last five years there's been more than the 30 years prior to that or 25 or 30 years prior to that. It is really like we had at the turn of the 19th century. I think in industrialization we've now moved into that technology. But a lot of the stuff I think that we see out there, it's form factor. We're all aging. I had a great guest last week who really reminded this of that. Right. This is a process we do always. So aging doesn't just happen to you. It's your entire life that you work through this thing and you have accumulation of decisions that you or your mom and dad in this case have made throughout their know. I think there's a good conversation to get into that. I want to continue in that line, if you would. We talked into Medicare, talk about Medicaid. Right? So as people get into that gap and they start thinking, okay, there's that Medicaid thing, there's a lot you give up with Medicaid. Can you let us know what break down the Medicaid system? [00:16:22] Speaker A: So let's do that. That is really important because when I started doing long term care planning in the, we would be talking with clients. And for men, most men, they just kind of have a different approach on this. They'd say, well, you know, Brian, look, I'll just spend everything and then I'll go on Medicaid and the state will pay for it. That's just a flippant answer for really saying I'm never going to need it. But the reality of Medicaid, and now I'm going to say Medicaid is a incredible benefit. That's a combination between federal and state benefits that is specifically designed. It's welfare, let's call it what it is. You become indigent and you have to financially and health qualify for this. But let's back up a second. So let's say we've accumulated this money and now we have this Venn diagram and we need care, and the financial planner is going, I don't understand Medicare. I don't really understand the care that you need. I don't understand the cost, I don't understand that, but I'll keep giving you the money. So we've got Social Security, we've got a pension, we might have rmds, we've got a set amount of money to help pay for this care. Well, now we're going to have to overdraw it because now we need five or six or seven or eight or $9,000 a month more than our retirement income was designed to kick out until we were 92. So two things happen. Do we have the money to offset the shortfall? Number two, we're drastically reducing how long this money is going to last. So we've got a problem. We've got some tax implications on top of that. So in the middle of this, now we've got the healthcare community and the healthcare is saying, look, we're going to provide you safety, quality care, rehabilitation, but we don't know how much money you have. We don't know where you're going to get the money and we don't know how long it's going to last. So you've got both. They need to get paid. The financial planner is going, we're kicking out the money. So in the middle, the kids are going, okay, so to answer your question about Medicaid, Medicaid comes when the shortfall between the cost of the care and the ability to pay is actually a longfall. And that gap is so wide that there's no financial solve, there's no cure for this. So we're going to have to go on Medicaid. So we're going to spend down what we have. I could get really technical with you because as you know, I'm a certified Medicaid planner, too. I could get way in the weeds on this. But the bottom line is we're going to spend down that money until we meet the state eligibility. Now that means if we live in a community property state, which many states are, we're going to split the money up. The spouse that needs care is going to spend down to a couple of grand total assets and the community spouse is going to have to spend down to a specific level of money. But the reality is we're going to have to spend down to the point where we can't afford to pay for our own care. [00:19:34] Speaker B: Right. So you have to accelerate that position in that way. People are accelerating. You don't have to. People are accelerating to get themselves into that qualification, into welfare. They're accelerating to get onto welfare. [00:19:49] Speaker A: And that's what a term you're looking for spin down. So here's the resolve for this now, and it's unfortunate is, oh, man, the kids like, oh, man, we need care. Mom and dad, we're going to have to pay for this. We got to sell the house. We got to start giving the money away. There are some guidelines, some very specific rules of how you can diverse yourself of that money to qualify for Medicaid. But the tragedy of this is that when you are now eligible for Medicaid, you don't get to pick where you go and the kids don't get to pick where you go. So now you're going to have to go. You're going to receive care from a facility that's willing to take payment from the state. Now, I am not going to sit here and say, oh, my gosh, you're going to be in the worst possible facilities in the world. That is not true. And you might not be in a really nice one either. The fact is you're not going to get to pick. You're going to go where the state sends you and you're not going to get paid for at home. Very minimal, very minimal support for care at home. In most cases, you're going to have to move into a care community. So where we are right now is we've got money, we spend it down, we go on Medicaid and we preserve as much money as we can. Tony, that is not necessary in so many cases. But that's how we've been programmed to manage this. The reality is if we do some careful planning at the time that ven diagram becomes reality and we look at Medicare, there's not going to be much. There but let's understand it. Do mom and dad have long term care insurance? Were they proactive about buying an insurance plan that would basically reimburse a portion of the care? It's possible. And I'll tell you, I had a room full of home care providers in here the other day for a meeting, and I said to them, I said, how many times does this happen? We're going through the same conversation. How many times does this happen? When the kids go, oh, I think mom bought a long term care insurance policy. Let's find it. So they're looking for a policy. They're looking for a policy. You know what they find? They find a brochure. They didn't buy it. They either were discouraged from getting it or they decided they didn't need it. And so there isn't anything there. The other thing is there might be something there we need to look at that. Is there long term care insurance? Now, unfortunately, only about 9% of the million plus people a year that go into a care community have long term care insurance. And for those that do have it, unfortunately, they don't have quite enough to manage the shortfall. So we still are going to have to dip into a little bit of the money, which is fine, that's okay. But then how do we manage that disparity? The next step is life insurance, and this is the one that the kids miss because they don't understand how to utilize life insurance. So number one, still about 25% of people that go into Medicare still have life insurance in force. Okay, so how does life insurance? Well, Brian, my mom and dad aren't dead. They haven't passed. So how does life insurance work? There is an opportunity potentially to do a couple of things, accelerate the death benefit. Can we access that death benefit before they pass? Because the money is more important while they're living. Number one, we can sell it. We can do a life settlement. We can sell the life insurance policy for cash. Number one. Number two, some life insurance policies have what we call a 101 g writer. And what that is, it's a provision in the life insurance that says if you're chronic or terminal, we'll allow you to take 90% of the death benefit, two to 4% per month, and will allow you to use the death benefit to pay for care. Well, if I've got $100,000 and they give me 90 grand and they're only giving me 2% a month, that's not a lot, but it's something, right? The other issue with life insurance is, is it a 77 two b. Now, what that is, that's a real live long term care policy built on a life insurance chassis. So on these plans, what they do is they take the death benefit, and now it's in multiples. So I've got $100,000 death benefit. That now is $300,000 in long term care, and I might be able to leverage $3,000 a month out of that life insurance policy. So these are the things where the kids, they miss this stuff because they don't know what mom and dad have or do not have. And honestly, mom and dad don't really know what their policies will do either. What about the equity on the sale of the house? What about a reverse mortgage? I hear people say, oh, no, those reverse mortgages, those are. No, I have seen a reverse mortgage change people's lives. Why? Because they get to stay at home. Honestly, Tony, let's take a survey. Let's fill our office with people that are 65 and over and say, okay, all of you in favor of going to a nursing home, raise your hand. [00:25:21] Speaker B: Right. [00:25:22] Speaker A: How many people want to stay at home? Everyone. 73% of people start their care journey at home. And sometimes it only lasts as long as they have the money, or it lasts as long as there's a caregiver that's emotionally and physically able to continue to provide care. So now what we've done is we've created our math problem. Right? You said in the beginning it was so good. It's a math problem. We've got x, which is our income. We've got y, potentially our insurance distribution, whether it's there or not. And then we've got to get to z. But we also. Z is just not z, because the cost of care is going up six to 12% every year that mom and dad are in care. So we're not done with our math problem yet. We've got to figure out how to sustain them there for a number of years. And this is where we come in, because we're not financial planners, but we understand all the variables in this equation, and we can help the kids put those pieces together to say, look, we do have enough money to create an immediate care plan to really sustain mom or dad's care for a number of years without liquidating everything they've worked for. [00:26:39] Speaker B: Yeah, actually, there was a ton of information, but that information was very logical to understand. The amount of places to pull off out of insurance, I think, is going to be news to a lot of people that are watching this here. And just in thinking about it from that perspective as well. How the thought of a reverse mortgage or those things in their own right individually. I think what I'm also hearing from you is it's about a totality of the circumstance. It's about taking measure of all of those variables at one specific time. So what I take away from you here is to get out there and to pull in just as many of the documents as we can. Life insurance policies, regardless of what those are, there's somebody who can help us look, I think you know, or somebody that works in your field can understand, to know what they're looking for. The 77 two b, or whatever those clauses might be that we're looking for. You guys know how that pulls out. And we just start working a plan as best as possible, hopefully to keep us making as many decisions, to enable our loved one to make as many decisions as possible, or for us to make decisions on their behalf before we have to turn this over to somebody else. Am I picking that up right? [00:28:07] Speaker A: Yes, absolutely. Start putting the puzzle together before they need it. Because, listen, doing this in crisis mode is terrifying. [00:28:17] Speaker B: Yeah, it was really fascinating in church over the weekend. One of the things that just really struck me and I actually started journaling and thinking about that was just the historical use of family getting involved in stuff, and we've drifted away from this. Right. But in other cultures, family were involved. In fact, it was a way. I remember that the password said you preserve your inheritance by taking that responsibility of your family member on. And at first that sounds very transactional, but that wasn't where he went, and that's not where it came through. It was also understanding that once you got eyes on it, you were able to keep costs down, you were able to not get scammed as much. You had more eyes looking at the decision making. You made better decisions with more information. Because what's not going to change is that you're going to likely have to make a decision. Whether or not you're informed about that is probably going to be determined based on if you paid attention towards this and you've started pulling this stuff together or if you lack the ability to do that. I might throw a caveat on, because I've had clients in the past who just couldn't have this conversation with their parents. One in particular I can think through really had difficulties in finances, and their parents just didn't have that relationship where parents were going to trust them to do that. But he still understood that he could bird dog and pull a fiduciary in that could pull all of that information together and then still making sure all of those things happen. Because at the end of the day, he recognized, he didn't expect inheritance to come down. He just recognized his conscious wasn't going to let him just check out against this. That moment was going to hit and he wanted to know that that was being taken care of as best as possible with people who are totally qualified to do that and enjoyed doing it, maybe even found passion and calling in doing it. [00:30:10] Speaker A: Yeah, it's interesting. We work very closely with a law firm here that is just amazing when we need legal documents done. And I was visiting with them, I officed in a law firm, elder law firm for about ten years. And I was talking with one of the principals about this concept. And he goes, Brian, he goes, you know, this, this thing you're embarking in, he said you no longer are an insurance agent, you are now a social worker consultant. And it really has, but I've embraced it. And only reason that I have really embraced this concept is because we get calls here so often. I've got folks that came on to Medicare with me when they were 65 and they're now in their late seventy s and their early eighty s. And we've been on this journey with them the whole way. So this isn't something I kind of just made up. This was a response to a need where the financial planner, they're doing all they can do. They are. And the care providers, they do their job. But when this thing meets in the middle, it's hard. It's hard. But being proactive, creating the locker and having all the information, you don't have to have this terribly uncomfortable conversation with mom and dad. Just encourage them to document their information. Just put it all somewhere where we can keep track of it. So when the time comes, like you said, ABCD, we can put the pieces together, figure out what that shortfall is and have a plan going into it rather than just harem scaram and everybody reacting and making really maybe unfavorable decisions in the heat of the moment. And that's really what we're talking about. It's just trying to bring calmness to an event that has tons of calamity. So that's kind of what we're doing. [00:32:14] Speaker B: In particularly if you're coming through with that perspective and communicating to your loved one, you're going to try to enable what they want to accomplish in life. You want to try to make those things happen, but you recognize at that moment you're going to be thrust into it because they've been in a car accident. It could add nothing to do with aging, right? [00:32:35] Speaker A: Exactly. [00:32:36] Speaker B: It could be something totally to the outside, but probably related to lifestyle choices over the course of their life. You want to be there to be able to make that information and look, bad news just doesn't get better with time. So breaking down those barriers, understanding, if you're not the one to have that conversation, at least have them pull together. Let me ask this, are there lists or can you share with us where people can get more information about preparing for this conversation? I know your firm puts out some literature and some checklists and things of what you put together. Where can people learn more about what you guys are doing with innovative broker partners, but just this whole approach of kind of case management in helping your families this way. [00:33:19] Speaker A: I think just brainstorming this with the kids and going to our website is fine. We have a place where you can ask, you can go on and there's a place where you can respond and ask your questions. What about this? And what about that? It's not an opportunity to sell insurance. It's not. We're trying to help you understand what to do with the insurance your mom and dad already have. I can't overemphasize that this is not a sale of some magic fairy desk that is going to make the problem go away. This is really just trying to understand how to utilize what they already have in place. And if they don't have something in place, is it too late? Can we do some things to cure this issue to help position them for a better outcome? Just go on the site list in, ask for help. We'll send you some articles and some things to help you. We can help you break down Medicare and the details break down long term care, break down life, know, even give you a referral. If you had a question about a reverse mortgage and you had somebody you wanted to ask questions about, we're very well networked in there. We have a ton of people that we really trust that we've worked with, home care providers, placement services, reverse mortgage, senior minded real estate professionals that are really good at helping people transition from home into a care community and helping deal with the estate. There is so many things that have to be done, Tony. We can't do all that. We can't be all things to all people. That's not our goal. But we understand the complexity of this process and we have some great people that we know we can trust to. [00:35:04] Speaker B: And we look forward to welcoming you over with parent projects and integrating you guys in against that just to help really make the most of that and to leverage technology towards some of those decisions out to the audience there, Brian, is somebody who I've really found a good kinship with over the years that gets it and understands the other impacts are going to come, the additional costs of the silver tsunami, the 48 million to 90 million that are going to be on that Medicare system, pulling off of that and the impacts that looks to right the impacts of capital needing to be spent elsewhere within the government that isn't going to be available in those social safety nets and perhaps even depending on what state you're in, some states worse off than other states. So being able to get in front of that and understand what that might look like while you have time in front of you or you're making those decisions. Okay, well, where are we going to do this? Where's mom or dad's Alamo going to be? Where do we ride that out? And these might be really important parts of your decision and understanding if the news isn't good and you know that you're going to have to work a spend down into a Medicaid solution, making sure you're informed about where that's the best place for you guys to do that. I think those are important. Brian. Boy, I can't tell you how much I appreciate always having you on and you sharing your time, talents and treasures with us here at parent projects. Thank you so much. God bless you and what you do in your work. [00:36:26] Speaker A: Thank you. Always glad to meet with you. Thank you. [00:36:30] Speaker B: But wait, there is more. If you just got done with that episode and that was a lot to take in because it was a lot to take in and now you are hungry, you are thirsty for some practical knowledge and how to deal with your situation in front of you. We got you covered. Stay tuned for a part two of this series with Brian Heard and with innovative broker partners where we're going to walk through some of the case examples and case studies of what this looks like so you can pull out those practical ideas and help you and your family make your way through your parent project until you and I talk again. Behold and beheld. Well, that's it for the steam this week, and thanks for joining us. If you've enjoyed the content, remember to subscribe and to share this episode on the app that you're using right now. Your reviews and your comments, they really help us expand our reach as well as our perspectives. So if you have time, also drop us a note. Let us know how we're doing for tips and tools to clarify your parent project, simplify communication with your stakeholders, and verify the professionals that you choose. You can find us on YouTube, follow us on Instagram and Facebook. Thanks again for trusting us. Until our next episode. Behold and be held. [00:37:43] Speaker C: Thank you for listening to this parent projects podcast production. To access our show notes, resources, or forums, join us on your favorite social media platform or go to parentprojects.com. This show is for informational and educational purposes only. Before making any decisions, consult a professional credentialed in your local area. This show is copyrighted by Family Media and Technology Group, Inc. And parent Projects, LLC. Written permissions must be granted before syndication or rebroadcast. [00:38:20] Speaker A: You close the.

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