As of September 1, 2007, Virginians are able to purchase a new type of long-term care (LTC)
insurance policy- a LTC Partnership policy.
The LTC Partnership is an alliance between the private insurance industry and Virginia state government to help Virginians afford future long-term care services without depleting all of their assets to pay for care. LTC Partnership policyholders who use their LTC Partnership insurance policy benefits and who eventually apply for Medicaid coverage are able to maintain some level of assets (equal to the LTC insurance benefit paid) above the $2,000 Medicaid asset limit currently in placefor eligibility purposes. Click the link below to find out more.
www.valtcpartnership.org
Wednesday, September 19, 2007
Memory Loss May Predict Alzheimer's Disease
A study being reported in the September 12, 2006, issue of Neurology, finds that adults over the age of 60 who complain of severe memory problems may actually be losing brain tissue. Despite scoring well on standard memory tests, the adults in the study who complained of significant memory loss were found to have loss of grey matter of about 3% on MRI brain scans. Patients diagnosed with mild cognitive impairment (early Alzheimer's ) show about 4% loss of brain tissue in the same areas of the brain - the areas where memory is stored.
www.neurology.org
www.neurology.org
Fruit Juice May Prevent Alzheimer's Disease
A study published in the American Journal of Medicine finds that seniors who drink fruit or vegetable juices at lease three times a week lower the risk of developing Alzheimer's Disease by 76 percent. The researchers credit the high levels of polyphenols in juices as being responsible for these findings. The antioxidant action of polyphenols (found mainly in the skins of fruits and vegetables) is well noted in other studies.
Cuts to Medicare Advantage Off The Table
Congressional negotiators have agreed not to include revisions to Medicare in compromise SCHIP (State Children's Health Insurance Program) legislation that would reauthorize and expand the program, and lawmakers could vote on compromise legislation next week.
The draft compromise bill, announced on Sunday, closely resembles the Senate version of SCHIP legislation, which would provide an additional $35 billion in funding over the next five years and bring total spending on the program to $60 billion. The additional funding would be paid for by an increase in the tobacco tax, which would be similar to the 61-cent-per-pack tax proposed in the Senate version.
The compromise bill does not include provisions of the House bill that would reduce payments to Medicare Advantage plans to help fund an expansion of the program, leaving a cigarette tax increase as the primary funding source for the legislation.
To many people this is a complicated and unconcerning issue. This legislation has a far-reaching impact on the healthcare issue in America. The political parties are using it to "draw a line in the sand." Each will try to make use of it in upcoming elections.
For seniors however, it appears that Medicare Advantage plans will remain unaffected. This means that seniors, many of whom could not afford and did not have, a Medicare supplement, will continue to benefit from lower cost MA plans. All Medicare beneficiaries will have this option available to them. Options are a good thing.
The draft compromise bill, announced on Sunday, closely resembles the Senate version of SCHIP legislation, which would provide an additional $35 billion in funding over the next five years and bring total spending on the program to $60 billion. The additional funding would be paid for by an increase in the tobacco tax, which would be similar to the 61-cent-per-pack tax proposed in the Senate version.
The compromise bill does not include provisions of the House bill that would reduce payments to Medicare Advantage plans to help fund an expansion of the program, leaving a cigarette tax increase as the primary funding source for the legislation.
To many people this is a complicated and unconcerning issue. This legislation has a far-reaching impact on the healthcare issue in America. The political parties are using it to "draw a line in the sand." Each will try to make use of it in upcoming elections.
For seniors however, it appears that Medicare Advantage plans will remain unaffected. This means that seniors, many of whom could not afford and did not have, a Medicare supplement, will continue to benefit from lower cost MA plans. All Medicare beneficiaries will have this option available to them. Options are a good thing.
Tuesday, September 11, 2007
Senior Health Benefits Enrollment Coming Soon
Medicare Advantage or in 2008 renamed "Medicare Part C" will have its open enrollment starting November 15, 2007. The Annual Election Period (AEP) runs from November 15 until December 31, 2007. During that time, Medicare beneficiaries have the opportunity to make changes to their Part D drug benefits. In addition, seniors can enroll into Part C medical insurance replacing traditional Medicare/Medigap coverage.
Insurance carriers that voluntarily suspended sales of Medicare Advantage this summer are resuming sales. Agents will begin to market products for 2008 on October 1, 2007. However, applications cannot be taken until November 15. Details of any changes to the policies will be forthcoming.
Insurance carriers that voluntarily suspended sales of Medicare Advantage this summer are resuming sales. Agents will begin to market products for 2008 on October 1, 2007. However, applications cannot be taken until November 15. Details of any changes to the policies will be forthcoming.
Ideas To Keep Us Thinking
"Use it or Lose it" is a phrase we sometimes hear. Often we think about physical health and muscle usage. What about our minds? Retirement brings thoughts of less worries, less thinking about schedules and tasks. Seek ways to keep mentally stimulated.
Research has shown, to no surprise, that mental stimulation is beneficial to the aging process. Cognitive challenges can even help reduce the risk of dementia. So what can be done to accomplish this task. Here are a few suggestions:
1) Check with the local high school or college for classes for older adults.
2) Many seniors have overcome the fear of computers and now play games, send e-mails, and
organize files with the best of us.
3) Volunteer opportunities with the hospitals and local elementary schools. As the husband of a
first grade teacher, I know there is a need.
4) Church ministry.
5) Crosswords, Brain Teasers and Word Search - often visual impairment limits use of these but
there are many products that solve that problem
6) If a senior in your care resides in a nursing home, ensure that the Activities Director is
making maximum use of mental stimulation exercises to promote the best quality of life.
Below are helpful links to products and services for the above suggestions.
www.henrico.k12.va.us/adulteducation
www.bonsecours.com/bsrichmond/volunteeropps.asp
www.co.hanover.va.us/commres/volsvcs.htm
www.firststreetonline.com/category.jsp?id=57905
Research has shown, to no surprise, that mental stimulation is beneficial to the aging process. Cognitive challenges can even help reduce the risk of dementia. So what can be done to accomplish this task. Here are a few suggestions:
1) Check with the local high school or college for classes for older adults.
2) Many seniors have overcome the fear of computers and now play games, send e-mails, and
organize files with the best of us.
3) Volunteer opportunities with the hospitals and local elementary schools. As the husband of a
first grade teacher, I know there is a need.
4) Church ministry.
5) Crosswords, Brain Teasers and Word Search - often visual impairment limits use of these but
there are many products that solve that problem
6) If a senior in your care resides in a nursing home, ensure that the Activities Director is
making maximum use of mental stimulation exercises to promote the best quality of life.
Below are helpful links to products and services for the above suggestions.
www.henrico.k12.va.us/adulteducation
www.bonsecours.com/bsrichmond/volunteeropps.asp
www.co.hanover.va.us/commres/volsvcs.htm
www.firststreetonline.com/category.jsp?id=57905
Check Your Social Security Statements
Starting in 2000, the Social Security Administration (SSA) began mailing personalized statement annually to all workers age 25 or older who have worked in employment or self-employment covered by the Social Security system. These statements normally arrive about 3 months before a worker's birthday. Most people focus on the benefit estimate, because they are naturally interested in how much Social Security expects to pay them at retirement or if they become disabled or, if they die, how much their survivors can expect to receive. The statement also includes a record of the worker's lifetime earnings reported to Social Security, and that part of the statement is too often overlooked.
Every worker covered by Social Security pays Social Security taxes. These taxes are matched by the employer dollar-for-dollar. In fact, most American families pay more in Social Security taxes each year than they pay in Federal income taxes, partly because Social Security taxes apply to covered wages and salaries from the first dollar, without any deductions or exemptions. In return for paying these substantial taxes, workers are supposed to get credit for the appropriate amount of Social Security-covered earnings. Those earnings are used by SSA to compute any retirement, disability or survivors benefits to which workers and their families may become entitled. Most earnings reported to SSA are properly credited.
Unfortunately, some are not, for a variety of reasons. Incorrect reporting of the amount of earnings is relatively uncommon. Much more common is the failure to post any earnings for a year. Most such omissions are the fault of workers or employers, who must report all earnings to SSA on Form W-2. If an employer uses the incorrect Social Security number for an employee, then SSA cannot determine who should get credit for the earnings. Many workers have similar names. If a worker changes his or — much more commonly — her name without reporting the change to SSA, then the name and number will not match SSA's records, and the earnings will not be posted. Sometimes the government makes mistakes, too.
Check those statements. Mistakes and ommissions can result in reduced benefits. Mistakes can be caught and corrected. Complete omissions of earnings for a year can always be corrected, if the worker provides evidence of the correct figure. Be alert in your financial planning
Every worker covered by Social Security pays Social Security taxes. These taxes are matched by the employer dollar-for-dollar. In fact, most American families pay more in Social Security taxes each year than they pay in Federal income taxes, partly because Social Security taxes apply to covered wages and salaries from the first dollar, without any deductions or exemptions. In return for paying these substantial taxes, workers are supposed to get credit for the appropriate amount of Social Security-covered earnings. Those earnings are used by SSA to compute any retirement, disability or survivors benefits to which workers and their families may become entitled. Most earnings reported to SSA are properly credited.
Unfortunately, some are not, for a variety of reasons. Incorrect reporting of the amount of earnings is relatively uncommon. Much more common is the failure to post any earnings for a year. Most such omissions are the fault of workers or employers, who must report all earnings to SSA on Form W-2. If an employer uses the incorrect Social Security number for an employee, then SSA cannot determine who should get credit for the earnings. Many workers have similar names. If a worker changes his or — much more commonly — her name without reporting the change to SSA, then the name and number will not match SSA's records, and the earnings will not be posted. Sometimes the government makes mistakes, too.
Check those statements. Mistakes and ommissions can result in reduced benefits. Mistakes can be caught and corrected. Complete omissions of earnings for a year can always be corrected, if the worker provides evidence of the correct figure. Be alert in your financial planning
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