The Federal Trade Commission (FTC) issued an alert recently warning residents of long-term care facilities and their families that some facilities may unlawfully require residents who are on Medicaid to sign over their $1,200 pandemic relief checks. This is unlawful and those payments should be returned to the patients.
An advance directive is a set of instructions someone prepares prior to illness that sets out healthcare wishes. A living will, a type of advance directive, is a legal document that instructs your health care providers on the types of treatment you want or do not want should you become incapacitated.
Older workers lost their jobs or were forced into early retirement due to the COVID-19 crisis at unprecedented rates. The unemployment rate for people over the age of 55 quadrupled to over 12 percent, but many experts fear that number is actually much higher.
Most of the media coverage surrounding the Coronavirus Aid, Relief and Economic Security (CARES) Act lists out the aid designated for small businesses. The act also provides almost a billion dollars in grants specifically for seniors and those with disabilities negatively affected by COVID-19.
Due to the COVID-19 pandemic, the stock market dropped significantly causing many to lose significant savings set aside for retirement. Federal law typically requires those age 70 ½ to take annual required minimum distributions (RMDs) from the following types of retirement accounts:
There are over 60 million Americans covered by Medicare and virtually all of them are in the high-risk category for being negatively impacted by the coronavirus that causes the respiratory illness COVID-19.
A special needs trust is a type of trust that helps preserve a disabled person’s eligibility for federal and state benefits by keeping assets out of the person’s name.
Millions of senior adults fall each year resulting in death, injuries and health-related expenses. With increased longevity, many seniors are living longer with chronic diseases such as diabetes, heart conditions and dementia-related issues.
While some may attempt to use these three terms interchangeably, they should not be used that way because each type of planning has a very different set of objectives.
When you first think of the term dementia, memory loss is often the symptom that comes to mind. Dementia presents itself with issues involving language and speech, problem-solving capabilities and changes in mood and behavior.
