Scams that Prey on the Elderly September 16, 2021 11:15Some people are lonely or socially isolated, which makes them vulnerable to abuse. As a result of cognitive decline, it becomes increasingly difficult for you to assess risk or recognize when something is amiss, even when you are in your fifties. As a result, your ability to manage your own money may be compromised.
How to Find Online Care from Home July 21, 2020 11:40
Whether or not you’ve gotten used to to connecting with family, friends and colleagues over Zoom and FaceTime—virtual life is becoming a new reality for all of us.
Chair Exercise for Seniors
Medicare site lets you compare nursing homes February 2, 2020 10:01
If the time comes to find a nursing home for a loved one, you may conduct research on a website called “Nursing Home Compare” at Medicare.gov. The database includes all Medicare and Medicaid certified nursing homes in the U.S.
To start the search, you input the location of the nursing home and may include the nursing home name. The program gives detailed information about nursing homes, which allows comparing the quality of care and staffing.
Certain icons have recently been added to the website to inform consumers about abuse at a nursing home. If a nursing home was cited for potential issues regarding abuse, a red icon with a hand is shown next to that nursing home name. A different icon with an exclamation point indicates that a nursing home has a history of poor care and may need increased oversight and enforcement.
Nursing homes in New York cost between $12,000 and $20,000 a month. Very few people can afford the high cost of 24-hour skilled nursing care provided by nursing homes. Although both Medicare and Medicaid may pay for the costs, the two programs differ significantly.
Medicare is a federal health insurance program for people age 65 or older or for younger people with disabilities. Medicare will pay for short-term nursing home stays for rehabilitation purposes to help improve a health condition or maintain a current health condition.
If a patient has a qualifying stay in a hospital for a minimum of three days, Medicare will pay for rehabilitation costs in a skilled nursing facility for up to 100 days. Medicare fully pays for the first 20 days and then partially pays for the next 80 days. The patient has a co-pay for the 80 days paid either from their own funds or possibly through secondary insurance coverage.
Medicaid is a joint federal and state insurance program for medical care for needy people and is also the main source of payment in the country for middle class people for long-term stays in a nursing home. To qualify for Medicaid for nursing home costs, an applicant must comply with complex rules governing which assets the applicant may keep, and which of the applicant’s assets are available to pay for nursing home costs. Each state administers nursing home Medicaid, so eligibility rules vary from state to state.
It is heartbreaking to move a loved one to a nursing home. In addition to the frustrating rules involved in the government paying for nursing home care, finding an acceptable nursing home is another overwhelming task for the family. The Compare Nursing Home website helps in the search by giving critical information about safety or the lack of it for vulnerable patients in nursing homes.
Medicare Advantage Plans Boost Healthy Perks November 10, 2019 20:54
Medicare Advantage Plans Boost Healthy Perks
“These benefits are focused on keeping people well and can save the beneficiary and the plan a lot of money in the long run,”
Exercise for Seniors DVD
Seniors Who Feel Their Life Has Purpose May Live Longer November 10, 2019 14:58
"We found a strong association between life purpose and mortality in the US," said the study's lead author, Leigh Pearce of the University of Michigan School of Public Health.
Chair Exercise DVD
12 Top Things to Know About Social Security September 26, 2019 10:29
1. Social Security is not going bankrupt
At the moment, you could say the opposite; the Social Security trust funds are near an all-time high. “The program really is in good shape right now,” says David Certner, AARP’s legislative policy director. “But we know it has a long-term financial challenge.” Here’s why: For decades, Social Security collected more money than it paid out in benefits. The surplus money collected from payroll taxes each year got invested in Treasury securities; today, the trust fund reserves are worth about $2.89 trillion. But as the birth rate has fallen and more boomers retire, the ratio of workers to Social Security recipients is changing. This year is a tipping point: The program will need to dip into its reserves to pay full benefits from this point forward, absent any change to the program. It’s now forecast that the trust fund reserves could be exhausted in 2034. Even if that happens, Social Security won’t be bankrupt. The program will continue to pay benefits, but at a rate of 79 percent of what recipients expected to receive. But if the goal is to keep benefits at their current levels, the sooner funding issues are addressed, the better. The reason is simple: The earlier you make needed adjustments, the less dramatic they need to be. “The longer we wait to fix Social Security funding, the more the cost will be paid by the younger generations, either on the tax side or the benefits side,” says Kathleen Romig, a Social Security analyst at the nonpartisan Center on Budget and Policy Priorities.
2. Congress probably will not take up Social Security reform anytime soon
Several members of Congress have proposed legislation to address the program’s long-term funding issues. But given the deep political divides on Capitol Hill, it’s unlikely that Congress will make any effort to reform Social Security until there’s the possibility of bipartisan support. “Because Social Security is so important, we need to be really thoughtful and deliberate about how to make change,” Romig says. “And we want a bipartisan consensus because we want the change to last.” There are concerns that the tax-cut legislation passed in late 2017 could lead some lawmakers to look for places where they might cut spending. “The stage has been set by the tax bill to take another run at Social Security, Medicare and Medicaid,” says Max Richtman, CEO of the National Committee to Preserve Social Security and Medicare. Control of Congress after this year’s elections will play a key role in how Social Security’s funding is addressed.
3. Some ideas to reform funding are starting to take shape
One proposal is to either raise or eliminate the wage cap on how much income is subject to the Social Security payroll tax. In 2019, that cap will be $132,900, which means that any amount a worker earns beyond that is not taxed. Remove that cap, and higher-income earners would contribute far more to the system. Other options lawmakers might consider include either raising the percentage rate of the payroll tax or raising the age for full retirement benefits.
4. Lawmakers do not raid the trust fund
Another common myth about Social Security is that Congress and the president use trust fund assets to pay for other federal expenses, such as education, defense or economic programs. That’s not accurate. The money remaining after the Social Security Administration (SSA) has paid benefits and other expenses is invested directly into U.S. Treasury securities. The government can use the money from those securities, but it has to pay the money back with interest. Congress does get to determine each year how much the SSA spends on administrative costs, which includes staffing at field offices and call centers. In the most recent fiscal year, the SSA got an increase of $480 million, which raised the agency’s administrative budget to more than $12 billion.
5. Many believe it can be run better
As you would expect, the SSA is a big operation, with more than 60,000 employees and 1,200 field offices nationwide. With the rapid increase in the number of retirees, the agency has struggled to keep up. “There aren’t enough resources to take care of all the people now, and another 10,000 people turn 65 every day,” Richtman says. A recent audit showed that average wait times at field offices increased 32 percent between fiscal years 2010 and 2017, for example. During that same period, the number of visitors who had to wait over an hour to be seen at a field office nearly doubled.
6. Your Social Security benefits can be taxed
If you have other income in addition to Social Security, you might have to pay federal taxes on your benefits. Single filers whose combined annual income exceeds $34,000 might pay income tax on up to 85 percent of their Social Security benefits; couples filing jointly may pay tax on up to 85 percent if their combined income tops $44,000. And 13 states tax Social Security benefits depending upon differing variables: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont and West Virginia.
7. Social Security is not meant to be a retiree's sole source of income
The SSA says if you have average earnings, the program’s retirement benefits will replace only about 40 percent of your preretirement wages. Nevertheless, 26 percent of those 65 and over who receive a monthly Social Security benefit today live with families that depend on it for almost all of their retirement income. And 50 percent of them say their families depend on Social Security for at least half of their income.
8. The purchasing power of social security is diminishing
Every year, the SSA issues a cost-of-living adjustment (COLA), which is an annual adjustment that beneficiaries receive to help their monthly checks keep up with inflation. However, the formula used to calculate the COLA does not fully account for the medical costs of an average older American. These costs have been increasing faster than other goods and services. An average American 55 and older spends about 27 percent more annually on health care than the overall population, according to the Bureau of Labor Statistics.
9. You can work and get Social Security
But beware The agency will withhold some of your benefit if you are younger than full retirement age and your earned wages exceed a certain limit. In 2019, the threshold on your earnings will be $17,640. Make more than that, and the government will temporarily withhold $1 from your benefit for every $2 earned over the cap. You will receive this money eventually, in the form of higher benefits once you hit your full retirement age. If you wait until full retirement age to start drawing Social Security, you can work as much as you like and your benefits won’t be reduced.
10. Social Security has gone digital
The U.S. Treasury Department has moved away from sending out paper checks in favor of electronic payments. The SSA also has set up an online portal called My Social Security, where you can track your benefits. People are encouraged to go to the website (ssa.gov/myaccount) and set up an account. It will help prevent scammers from setting up an account in your name and possibly stealing your benefits.
11. Social Security is not just a retirement program
There are four main types of Social Security benefits: retirement, disability, dependent and survivor. Sometimes a person can qualify for more than one of these. However, Social Security generally will only pay one benefit at a time to a person. When filing for benefits, you should make sure to ask about your eligibility for other benefits. And if there is a change in your family status, such as the death of the family breadwinner, you should inform SSA of his or her death and ask if you or other family members are now eligible for additional survivor or dependent benefits.
12. Most people get back more than they put in
Worried that the money taken out of your check to fund Social Security will never come back to you? Over the years, studies have shown that most people receive more in benefits than they paid into the program. The Urban Institute issues reports that estimate how much people are paying into the program and what they are likely to receive in retirement benefits. (The reports can be viewed at urban.org.) As a general matter, married couples are more likely to get back more than they contributed than single people, and both low-income and high-income people may receive more dollars from the program over a lifetime than the amount of money they contributed to it.
More on Social Security
Senior Pets for Senior Citizens September 10, 2019 12:25
The Palm Valley Animal Center (Edinburgh, TX) aiming to place a cat or dog over the age of seven with a person over the age of 60. It’s called the “Seniors for Seniors” program. Shelter officials say senior pets often have the least chance of being adopted because people typically search for puppies.
'Back to School' Advice from Iowa Senior Citizens September 10, 2019 12:12
Living a Better Life - Build Your Tribe September 3, 2019 14:42
There’s an old saying that you’re the average of the five people you spend the most time with. Turns out that’s true.
A large and growing body of behavioral science research shows that motivation (or lack thereof) is contagious. One study, “Is Poor Fitness Contagious?
Evidence from Randomly Assigned Friends,” found that up to 70 percent of your fitness level may be explained by the people you train with. Other research shows that if you work on mental tasks with people who are internally driven and love what they do, you’re more likely to end up the same way.
If, on the other hand, you surround yourself with people who have a negative attitude and are focused solely on winning the rat race, you set yourself up for a less fulfilling experience.
Turning 65 Soon? September 6, 2017 12:26
If you are, well, congratulations. If you are planning on signing up for Medicare, here are the 'basic' basics to know before enrollment begins October 15th.
Also, you should start browsing Medicare.gov
Many Seniors Face Isolation, Hunger August 31, 2017 16:09
Even the most healthy and active among us, if fortunate to live long enough, may face some of the biggest threats of aging: hunger, isolation and loss of independence. With an average life expectancy nearing 80, living longer means more years spent in the struggles that accompany old age. Add to that the increase in geographic separation of our families and the result is millions of seniors left behind, hungry and alone.
While we all celebrate the increase in lifespan, maintaining health while aging comes at a price. Without support from programs like Meals on Wheels, millions of seniors are forced to prematurely trade their homes for more costly alternatives.
- 10.2 million seniors in America face the threat of hunger - that's 1 in 6!
- 15.2 million seniors are isolated, living alone
- 18.4 million seniors have difficulty paying for basic living needs
- The senior population is projected to double by 2050