Category archives: Seniors
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3 years ago
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Medicare prescription drug (Part D) plans can have a coverage gap—called the "donut hole"--which limits how much Medicare will pay for your drugs until you pay a certain amount out of pocket. Although the gap has gotten much smaller since Medicare Part D was introduced in 2006, there still may be a ... [read more]
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3 years ago
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One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Careful planning can help ease the financial burden.
Depending on location and level of care, nursing homes cos... [read more]
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3 years ago
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The federal government has expanded access to protections for spouses of reverse mortgage holders who are not named in the loan document, allowing more such spouses the ability to stay in their home if the borrowing spouse dies or moves to a care facility.
A reverse mortgage allows ho... [read more]
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3 years ago
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Some conversations are more awkward than others, and while discussing illness and death with our loved ones can feel uncomfortable, it is also important and helpful to do so.
A difficult part of life is that accidents, illnesses, and death are inevitable, and unfortunately often unexpected too. N... [read more]
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3 years ago
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The IRS has announced that the tax deduction for medical expenses includes amounts spent on face masks, sanitizer and other products purchased to prevent the spread of the coronavirus.
If you have significant medical expenses, you may be able to deduct them from your taxes. Many types of medi... [read more]
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3 years ago
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The one-year deadline for nursing home residents on Medicaid to spend down their first round of stimulus checks is here, but they may have a little extra time.
In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized $1,200 stimulu... [read more]
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3 years ago
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Netflix’s popular new movie, I Care a Lot, may be far-fetched in a lot of ways, but it does highlight some real weaknesses in the guardianship system that make it possible for an unscrupulous guardian to take control of an elderly person’s life and bleed their resources dry. Fortunately, steps can b... [read more]
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3 years ago
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Spring is definitely here, and in addition to enjoying the warmer weather, sunshine, and longer days, many of us are also Spring cleaning. Deep cleaning our homes, checking our refrigerators and pantries for anything out of date, clearing out clothing that doesn't fit anymore, weeding and removing y... [read more]
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3 years ago
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Tucked in the federal spending bill that passed at the end of December 2020 are some changes aimed at simplifying Medicare enrollment and addressing coverage gaps. But Congress chose not to deal with the biggest problem.
Currently, Medicare enrollment begins three months before th... [read more]
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3 years ago
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Long-term care is the care you need if you can’t perform daily activities on your own for an extended period of time. There are a number of different ways that long-term care can be provided.
Most long-term care involves assisting with basic personal needs rather than providing medical care. You ar... [read more]
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3 years ago
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All long-term care costs rose sharply in 2020, but assisted living facility costs increased the most, according to Genworth’s latest annual Cost of Care Survey. The across-the-board rises were due in part to increased costs brought on by the coronavirus pandemic.
In the past year, assisted living... [read more]
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3 years ago
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One of the lessons of the ongoing Covid-19 pandemic is the importance of taking care of ourselves, getting regular checkups with medical professionals, and paying attention to any changes or concerns we have about our health.
All of us are wise to also take this practical approach to the health o... [read more]
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