Your Medical Directive
Any complete estate plan should include a medical directive. This term may encompass a number of different documents, including a health care proxy, a durable power of attorney for health care, a living will, and medical instructions. The exact document or documents...
CMS: Medicare Will Soon Cover Certain Alzheimer’s Treatments
Medicare recipients living with a diagnosis of Alzheimer’s recently received promising news: The Centers for Medicare & Medicaid Services (CMS) has announced that it would begin covering new Alzheimer’s treatments that receive approval from the FDA. “If the FDA...
Medicare Fraud Prevention Week: Avoiding Health Care Scams
The week of June 5 marks Medicare Fraud Prevention Week. Seniors – as well as their caregivers – should be aware of the risks posed by Medicare scams and how to avoid falling victim to this type of fraud. Each year, Medicare loses tens of billions of dollars to abuse...
How Will the Public Health Emergency’s End Affect Veterans?
Per an announcement from the United States Department of Health and Human Services (DHHS), the federal Public Health Emergency created in response to the COVID-19 pandemic ended in May 2023. With the end of this Public Health Emergency (PHE) comes a number of shifts...
Retirement Planning Question: Should I Explore Qualified Longevity Annuity Contracts?
In late 2022, the federal government passed legislation known as the SECURE 2.0 Act. Provisions in this bill have made it easier for people to fund certain annuities that can delay taxes on their retirement funds until the age of 85. First, What Is an Annuity? If you...
Estate Planning Q&A: Do You Need a Trust?
According to the 2023 Wills and Estate Planning Survey by Caring.com, only 34 percent of Americans have an estate plan. The primary reasons respondents gave for not participating in estate planning are: Procrastination Believing they need more assets Not knowing how...
Which Should I Choose? Nursing Home Care vs. Hospice Care
End-of-life decisions are never easy. One of the most important decisions you may make regarding health care as you age could be whether you need a nursing home or hospice care. To make the best choice for you and your family, it helps to know the difference between...
Trusts and SSI
The contents of most trusts you create for yourself will be considered available to you in determining your eligibility for SSI. On the other hand, assets of most trusts that someone else creates and names you as a beneficiary of will not be considered to belong to...
Federal Government Seeks to Improve Long-Term Care Industry
The Biden Administration has directed federal agencies to improve access to high-quality, affordable long-term care for seniors, people with disabilities, and veterans. Citing a 40 percent increase in the cost of long-term care over the past decade, the...
Can Your IRA Benefit Both Your Heirs and Charity?
Question: Do you want to use your IRA to help a charity and also benefit your heirs? If yes, then instead of leaving your IRA directly to your children, you can leave it to a charitable remainder unitrust (CRUT) while still benefiting your children. Under the SECURE...
Seniors Face Loss of Buying Power
Inflation affects all consumers, but older Americans are facing an especially dramatic loss of buying power. A recent survey by the Senior Citizens League shows that Social Security benefits have seen a 36 percent loss in buying power since 2000. That number is...
Study: Hiring Family to Care for Children With Disabilities
Children with disabilities need a high level of care, which can be difficult considering the fact that over 2 million health care jobs are unfilled. A recent study in Colorado showed that hiring family members as certified nursing assistants (CNAs) can be an effective...
Innovative Long-Term Care Housing Solutions for Seniors
The population of seniors over 65 is expected to increase exponentially over the next decade. A study by the Office of Policy Development and Research exposed the country’s unpreparedness for housing the aged population. America has three major housing issues for...
On Medicare? What You’ll Pay for Now That the COVID Public Health Emergency Has Ended
The Biden administration officially ended the COVID-19 Public Health Emergency on May 11, 2023. Certain policies that were implemented in early 2020 during the public health emergency will now expire. As a result, seniors are among those who may see some of the health...
An Epidemic: Substance Abuse a Growing Problem Among Seniors & Those With Mental Illness
The United States population of aging adults has grown exponentially over the past decade. According to projections published by the U.S. Census Bureau, the number of Americans aged 60 and older increased by 34 percent from 55.7 million to 74.6 million between 2009...