Posted on Thursday, October 29, 2015
Missing Pieces? Get Answers to  Your Long Term Care Questions

Get Answers to Long-Term Care Questions

CareFamily strives to provide seniors and their families with many ways to get answers to their questions and provide resources that assist in their long-term care journey. While many families have questions during this journey, most say they are not sure where to turn for solid answers.

CareFamily has partnered with InterActive Planning and IBM’s “Ask Watson” to offer another resource to meet the demands of seniors who are experiencing issues with declining health, long-term care solutions, estate planning, asset protection, lack of capacity, and other issues. CareFamily Founder, Tom Knox shares, “Planning for long-term carecan be overwhelming and challenging financially for many people. We are excited to offer InterActive Planning to our clients and friends to help make that process easier. The InterActivePlanning.com website helps the public understand the basics of estate planning and governmental programs that pay for the health and care of seniors.”

The 2015 Cost of Care Survey found that the median cost of a nursing home in the United States is $91,250, while the average savings of a person aged 65 and older is only $54,000. The market for long-term care is large and rapidly growing. According to the Pew Research Center, approximately 10,000 Americans turn 65 every day. Existing businesses and websites focus on nursing home placement and locating caregivers, which leaves a gap for a source with comprehensive information on relevant laws, financial options, and resources.

“We have developed a tool to solve one of the most pressing problems in the US today. Our goal is to serve families by providing the opportunity to learn about Medicaid, VA Aid and Attendance, Medicare and other long-term planning options so they become educated consumers,explains InterActive-BB CEO, Michael Graham. 

Through the commercialization of IBM cognitive computing, known as “Watson,” InterActive Planning is able to understand and process natural language dynamically. The website uses the revolutionary power of “Watson” to understand imperfect questions and provide users with immediate, state-specific answers regarding the subjects of elder law, Medicaid, Medicare, long-term care, Veterans benefits, and estate planning. “Watson” has been trained with knowledge from experts in the elder law and estate planning field.

Mr. Graham continued, “We are thrilled to be an IBM Watson EcoSystem partner. This partnership enables us to be able to deliver a one-of-a-kind experience.”

Another unique and valuable feature of the site is the ability to live chat with a concierge who will answer questions and deliver additional resources for users’ specific needs. In the event that a user requires legal assistance, InterActive Planning can also provide referrals to knowledgeable elder law and special needs attorneys in their local area. 

CareFamily and InterActive Planning are both committed to educating consumers on how they can obtain acceptable levels of health care, while also protecting themselves from the high financial burden often associated with long-term care services. Click Get Answers to Long Term Care Questions to learn more. This same link can also be found on CareFamily’s “Family Resource” page.

 

ABOUT InterActive-BB

InterActive – BB offers intuitive technological resources for governmental benefits and estate planning. The company provides seniors, and those who care for them and/or serve them, a single source of truth for questions and answers involving estate and elder law issues, including estate planning, laws and rules relating to payment for housing and care, Medicare choices, and more. For more information, please contact info@interactiveplanning.com or 321.252.0100.

ABOUT IBM Watson: Pioneering a New Era of Computing

Watson is the first commercially available cognitive computing capability representing a new era in computing. The system, delivered through the cloud, analyzes high volumes of data, understands complex questions posed in natural language, and proposes evidence-based answers. Watson continuously learns, gaining in value and knowledge over time, from previous interactions. With the help of Watson, developers and partners are building apps and services that harness the power of cognitive computing to transform industries, help professionals do their jobs better, and solve important challenges.

For more information on IBM Watson, visit: ibm.com/watsonecosystem.

Check out the IBM Watson press kit at: http://www-03.ibm.com/press/us/en/presskit/27297.wss

Join the conversation at #ibmwatson. Follow InterActive Planning on Facebook and see Watson on YouTube and Flickr.

 

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