Lawmakers are eying possible changes in Medicare supplemental plans – moves that could increase seniors’ out-of-pocket costs. Traditional Medicare, the federal health program for the elderly and disabled, requires beneficiaries to pay hospital deductibles and a portion of the cost of tests and doctor visits. To protect themselves from those out-of-pocket costs, about 17 percent…
According to the Associated Press-LifeGoesStrong.com poll, 43 percent of boomers polled said they were “very” or “extremely” worried about being able to pay for their medical costs, including long-term care. Almost the same number, 41 percent, said losing their financial independence was a big concern. One significant cost facing new retirees is health care. A…
Software programs and Web sites selling customized, do-it-yourself wills and other estate planning documents seemingly offer a cost-effective and convenient alternative to visiting an estate planning attorney. After all, does anyone really want to discuss their dying wishes and health care directives with a perfect stranger? On top of that, most people are wary of…
Congress has agreed to allow the President to raise the debt ceiling in exchange for $2.4 trillion in budget cuts over 10 years. How this deal will affect the three major programs crucial to the elderly — Medicare, Medicaid and Social Security — may not be known until almost year’s end, but the impact could…
Here is an analysis of the bill that became law this past Tuesday is by two of the top Elderlaw Attorneys in the country, Brian Lindberg and Fay Gordon, who conduct research on behalf of the National Association of Elderlaw Attorneys (NAELA): The Basics: A two installment agreement with a down payment, congressional committee and a sequester:…
Long-term care can be very expensive, but many long-term care expenses can be deducted from your taxes. Two important recent decisions by the U.S. Tax Court provide guidance on when caregiving services are deductible. In one decision, the court ruled that payments to non-medical caregivers are still deductible as medical expenses; in the other, the…
Contrary to the popular belief that seniors have ample time and resources for a fulfilling retirement, objective measures show a dramatically different story. In fact, more that one of every three seniors (36 percent) is economically insecure today as measured by the Senior Financial Stability Index (see attached report). Combined with the 40 percent of…
July 20, 2011 – Over half of all Alzheimer’s disease cases could potentially be prevented through lifestyle changes and treatment or prevention of chronic medical conditions, according to a study led by Deborah Barnes, PhD, a mental health researcher at the San Francisco VA Medical Center (SFVAMC). The research was presented yesterday at the Alzheimer’s…
A FREE guide from Johns Hopkins specialists on how to recognize if symptoms are normal aging or something more worrisome.
Nurses and Therapists Collaborate to Help Mrs. Wilson Manage Her Illnesses, Avoid Institutional Care and Live Independently at Home with Her Husband The Patient: Grace Wilson (not her real name) is in her late 70s and lives in Washington’s Eighth Congressional District. She suffered from multiple medical complications, including encephalopathy (brain dysfunction) and diabetes. She was…
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