Choosing whether assisted living would be the right option can be a complex decision requiring a dispassionate evaluation of the situation and careful consideration.
The challenges of helping an aging parent plan for their late-in-life care can be strenuous. There are financial, medical and even emotional aspects of this type of planning.
By way of a primer, consider reading (and sharing) a recent Forbes article titled “The Basics: Assisted Living For Your Parent.”
"Understanding that AD may contribute to almost as many deaths as the two leading killers in America, heart disease and cancer, is an eye-opening figure that may convince the public and policy makers that AD funding should be increased," James said.
As you plan for old age, and even while planning for the estate itself, it is essential to plan accordingly. Unfortunately, some recently released news regarding Alzheimer’s deaths has brought the need for proper planning up a notch.
Earlier this month, Reuters reported on a recent Alzheimer’s study in an article titled “Alzheimer's deaths much more common than realized: study.”
Suzanne M. Cheney performed many services for her stepfather, Anthony R. Turco, expecting to receive a share of his estate. However, to her great disappointment, he left her nothing.
There is a difference between care given out of responsibility and that given out of expectation of payment. Similarly, there is a difference between payments for services and an inheritance. Even if you do not live in Massachusetts, if you are caring for an elderly loved one and may or may not be an heir apparent, there is something to be learned from a recent case in the Bay State, Cheney v. Flood (84 Mass. App. Ct. 1134, Feb. 7, 2014).
ElderLawAnswers considered the Cheney case in an article titled “Don't Just Hope for an Inheritance; Get It in Writing.”
In the meantime, cases like this demonstrate anew how vigilant families need to be. If your older relative has a long-term care policy, photocopy the page listing the company, policy number and claims contact information. Keep the insurance company updated on new addresses, yours (if you are the third-party designee) and your relative’s. It wouldn’t hurt, if the policyholder is becoming forgetful, to check bank statements or call the company to be sure premiums are paid.
Do your elderly loved ones have a long-term care insurance policy or something similar? If yes, then they likely are relying on it to cover the potentially catastrophic financial risk that is long-term care. If yes, then what happens if they forget to pay the premiums?
Do I have your attention now? If yes, then you will want to read a recent horror story in The New York Times – The New Old Age Blog titled “The Policy Lapsed, but No One Knew.”
What does this mean? Imagine you have a severe stroke. Before Jimmo, most people thought Medicare would pay for physical therapy only as long as that PT was helping you get better. For instance, Medicare would pay if therapy helped increase the number of steps you could walk without assistance. Now, Medicare will pay for PT even if it only helps you maintain your current ability to walk.
Whenever the rules for receiving Medicare benefits change it has a real impact on real beneficiaries and patients. Sometimes legal changes occur literally overnight, while at other times the changes are more subtle. After a landmark lawsuit a year ago, there may be some tangible effects to the system – for the better. This is especially the case when an elderly loved one requires skilled nursing or physical therapy.
The landmark case was Jimmo v. Sebelius. Recently, Forbes explored the legal evolution Jimmo sparked in an article titled “When Medicare Will Pay for Skilled Nursing or Physical Therapy.”
[Pacemakers] prolong lives, but “all those people will face decisions down the road,” Dr. Mueller said. “’Do I keep it going? Do I turn it off?’” Physicians have similar questions, including what kinds of patients confront these choices and who usually winds up making these decisions.
Do you or a loved one live with a pacemaker or implanted defibrillator? These devices keep the clock ticking, so to speak. But when you are making end-of-life plans, when is the right time to turn the pacemaker off? This scenario is all too common and is presenting challenges in geriatric medicine and palliative care.
Recently, The New Old Age Blog took a look at this perplexing issue in an article titled “A Decision Deferred: Turning Off the Pacemaker.”
If a beneficiary disagrees with a decision, there are reconsideration and appeals procedures within the Medicare program.
Medicare approvals can be tough at times, and some may find their claims come up with the big "D" – denial. So what happens when Medicare denies a beneficiary’s claim for care?
While it is not always smooth sailing, it is important to know that you are not without recourse. You can appeal Medicare decisions to refuse coverage for needed care, and sometimes you simply must.
“Hopefully, older adults who previously were unable to afford to see a therapist will now be more likely to do so,” said Andrea Callow, a policy lawyer with the Center for Medicare Advocacy.
Now that 2014 is officially here, it's time to start reviewing the Obamacare provisions that went into effect January 1. One change for elderly and Medicare beneficiaries that went into effect has been on the books since 2008 through the Medicare Improvements for Patients and Providers Act. Medicare will now cover costs for psychological care to the same degree as physical medical costs at the 80/20 Medicare/Beneficiary split.
The New York Times – The New Old Age Blog took note of this change in a recent article aptly titled “Medicare to Cover More Mental Health Costs.” It seems psychological issues are often the most directly felt difficulties in the life and wellbeing of elderly Medicare beneficiaries. With the new change, the long-held gap in coverage between the costs for physical medicine and psychological care has now been closed. Consequently, more elderly beneficiaries will be able to afford the care that is uniquely suited to their own needs and happiness.
Now I am 86 and almost blind. I cannot read the bills that come in the mail nor sign my own checks. I must be escorted to medical appointments. My busy children are kind beyond measure, but I am uncomfortable in these situations. And being uncomfortable makes me sharp and unpleasant.
The challenges of living with and caring for an aging loved one can be stressful, for all involved. You have to remember, just as it is difficult to provide care, it is not an easy thing to be the one receiving the care either. Over and above all the medical issues, the time crunches, or the money concerns, oftentimes it is the emotional issues (and even the fighting) that can wear on you.
If you’re handling the finances for an older family member or are about to do so, some sticky challenges can pop up quicker than you think.
Managing your personal finances can be a challenge. But what if you had to manage money for someone else? Managing the finances of a loved one is a far more tenuous role to occupy, as the outcome involves another's well-being instead of your own.
If you are caring for an elderly loved one and stepping up to oversee their finances as well, then there are some important rules to know and follow.
Houston Estate Planning and Elder Law Attorney Blog