Cost of Care – What Is It?

OneAmerica Financial makes boatload of resources at your disposal.  One is the OneAmerica interactive cost-of-care map.

This tool is something that has been available for several years.  It can be found on the oneamerica.com producer marketing page and is included as a component of our NEW Asset Care Consumer Presentation by Ensight.  To learn more about that, you can follow this link to the Asset Care Consumer Presentation by Ensight landing page.

As part of our recently completed regional meetings, I learned that many people are not aware of the cost-of-care map.  Here are a few points that you might want to tuck away for future use.

1. You can access the OneAmerica interactive cost-of-care map directly from the website at https://oneamericaltcmap.hvsfinancial.com/.  Make it a favorite in your browser for quick and easy access.
2. When you’re accessing it via the Asset Care Consumer Presentation, you will find it in the “Planning For Care” section of the presentation. 
   • The initial numbers presented will reflect the state average for the state where the illustration was run. 
   • To look at costs for other states or specific locations in that state, click on the “See More Details” button.
   • If you elect to use a pdf report while connected to internet, the Interactive Cost-of-Care Map will open a link to the cost-of-care map in a browser when the button is clicked.

Let’s dig into a few features that you should know about when using the interactive map.

In order to select a state to view, simply point and click to the state on the map. In my case, that is Connecticut.  When I perform that action, a small box will pop up on the bottom of the screen.   

Click the “DETAILS” button to expand it in order to obtain the cost of care data.  It will look like this:

The data will default to the annual state wide average cost of care. 

To dial in on a specific region, click the arrow to the right of “state average” then select from the drop down box.

To view the cost on a monthly basis, click the down arrow on the cost period field and select monthly.

To view future costs, drag the blue dot to the date that you wish to compare assuming an increase just under 3% annually.  Here are the monthly costs of care for the state of CT in 2045. 

This tool is approved for use with clients and can be quite effective in a planning discussion when coupled with the Step by Step Guide to Receiving Long Term Care .

As always, if you want more information or assistance with Care Solutions, contact Justin Fox at (844) 658-3725 or justinfox.isp@oneamerica.com, or Nick Angelov at (844) 623-4251 or nick.angelov.isp@oneamerica.com, or myself at (678) 512-9627 or kevin.fisher@oneamerica.com