Senior Living Information Blog

Term Life Insurance for Seniors?

Recently I received a note about term life insurance for seniors.  It is not a subject I know anything about, so I thought I would just share the readers note and the link to her article about it if you are looking for information on the subject.

Dear Lisa:

My name is Kathleen Firtle and I also enjoy developing content relevant to retirees. I particularly enjoy how your blog can aid seniors in the Chicago area! I really like how you can combine issues like financial planning, assisted living and local events to provide such a wonderful resource to seniors!

I see that you've written about seniors and taxes; however, did you know that term life insurance can help your loved ones pay estate taxes? It can be a great retirement tool!

I have recently written an article that may be of particular interest to your base of readers. It has been published on an informational life insurance site and advises retirees on things like: when they can still be approved for life insurance, the rates they should expect to pay, why they might want to purchase a life insurance policy and scams they should be wary of. It is very informative and compliments a lot of the content found on your site.

The article can be found here:  http://www.lifeinsurancematters.org/articles/term-life-insurance-for-seniors/

Tax Tips for Seniors

April 15th is almost here and I can't believe I forgot to write about this!  Every year this is a popular post so I want to make sure I keep you abreast of any tax tips that seniors and caregivers can use and think about before they file their taxes!

Since I am not an accountant not a CPA and actually pay one to do my taxes, please do not consider this legal advice.  However I searched the web and read quite a few articles on the subject and found some great resources that I am sharing below.  If anyone else has any to add please send me a message or comment below.

Medical Expenses - many elderly, especially those on fixed incomes may be able to deduct medical expenses on their taxes because the allowable expenses often exceed the 7.5% of adjusted gross income that is required.  In addition to the obvious expenses, medical equipment and insurance premiums including long term care insurance may be able to be deducted.  You can find allowable deductions on the IRS website for publication 502

Is Assisted Living Tax Deductible? - in some cases an assisted living will often report the "medical" as opposed to room & board expenses at the end of the year.  Contact the executive director of the community to find out more.

Is In Home Care Tax Deductible?  - very tricky.  If home care aid is providing medical services such as administering medication, help with bathing etc, the cost is probably tax deductible, see the above publication.  But it gets tricky if you are paying a caregiver directly as opposed to a licensed agency.  If the caregiver is your employee - in regards to taxes you need to make sure you withholding their taxes and matching their contributions.

Tax Deductions & Credits - those 65 and older may qualify for a special credit as long as their incomes don’t exceed certain thresholds, which vary by filing status. Be sure to consult the I.R.S. Web site for form 524.

Taxable Social Security - to find out more consult this worksheet A Quick Way To Check if Your Benefits May Be Taxable on the IRS website.  This usually applies to seniors that have a lot of additional income in addition to their social security.

Please Help Me! - The AARP has set up Tax-Aide which offers free assistance for federal and state returns.  There is a great article about Tax-Aide on the AARP website and you can also find links to local volunteers.

 

How Health Care Reform Affects Seniors a free guide

Recently the The Society of Certified Senior Advisors published a new about the new health care reform bill and its affect on our seniors.

This guide was created in order to answer some of the most often-asked questions about the new health care reform bill, titled the Patient Protection and Affordable Care Act, which was signed into law last t year. Each year the bill is slated to roll out new provisions that affect individuals, businesses, insurance companies, health care providers, and the government.

While it is possible that the bill will be modified over the years, whether by lawmakers or by the courts, it is important to understand the approaching provisions and what they mean now. The topics covered within include:

• How will my Medicare benefits change?
• What happens to my Medicare Part D coverage?
• How are my income taxes affected?
• What new assistance is available for long-term care?
• How are seniors protected against abuse under health care reform?
• Is there a timeline for when all of these take effect?
• Where can I go for more information?

To get your free copy of the guide please visit www.csa.us/SeniorsHealthCareReform

 

Actor Mickey Rooney speaks in front of congress about elder abuse

It has been all over the news.. Mickey Rooney who accused his step-son of elder abuse stood in front of congress this week to talk about his experience.

"If elder abuse happened to me, Mickey Rooney, it can happen to anyone," the 90-year-old actor said in testimony to the Senate Special Committee on Aging.

Abuse can be neglect, physical harm or financial exploitation or all three.

Mr. Rooney said he spoke because "Please, for yourself, end the cycle of abuse and do not allow yourself to be silenced any longer," he said.

A study by the Government Accountability Office released at the hearing estimated 14 percent of elderly Americans experienced some form of abuse in 2009.

So if you know of someone who is being abused what should you do or what can you do?  I have posted some links to the best resources I could find on elder abuse on the web.  Please watch out for it and report it.  It shouldn't have to happen at all.

National Center on Elder Abuse - www.ncea.aoa.gov

If you suspect elder abuse, neglect, or exploitation,  Click Here for state reporting numbers, or telephone the Eldercare Locator at 1-800-677-1116.

If someone is in immediate danger, call 911 or the local police for immediate help.

Photo from REUTERS/Jim Young photographer.

Congress Passes National Alzheimer's Project Act

Congress on Wednesday (12/16/10) passed the National Alzheimer’s Project Act (N.A.P.A.), which would create the National Alzheimer’s Project for the coordination of government efforts in preventing and treating the disease, along with establishing a national strategy for defeating Alzheimer's. President Obama is expected to sign off on the law.
 
The Alzheimer's Foundation of America called the law’s passage a “victory both for families struggling with this disease each day and for organizations striving to make a difference.”
 
“The disease currently afflicts more than five million Americans, and that number is likely to double in the coming years,” said Kathleen Sebelius, secretary of the Department of Health and Human Services, in a release. “The passage of this Act will help to ensure we confront this challenge with an aggressive and coordinated national strategy. I look forward to implementing the legislation's provisions swiftly and effectively.”

Over the last few years, the Alzheimer's Association has been the leading voice in urging Congress to pass the National Alzheimer's Project Act (NAPA). The National Alzheimer's Project Act will create a coordinated national plan to overcome the Alzheimer's crisis and will ensure the coordination and evaluation of all national efforts in Alzheimer's research, clinical care, institutional, and home- and community-based programs and their outcomes. Alzheimer's advocates were instrumental in moving NAPA through Congress. The Alzheimer's Association's more than 50,000 e-mails, nearly 10,000 phone calls and more than 1,000 advocate meetings led us to the historic legislative victory for the Alzheimer's community.

To read more about the chronology and the work that went into helping pass this law, visit the NAPA section of the Alzheimer's Association website here!

 

 

Assisted Living Federation of America - 2011 ALFA Hero Awards Program - nominations accepted now!

Heroes are found in senior living communities across the country. They are the executive directors, staff members, nurses, frontline caregivers, and volunteers who do more, give more, and personify the spirit of excellence in senior living care. Everyone knows at least one hero — someone in senior living who has shown extraordinary courage and leadership — someone who has risen above his or her daily duties to improve the quality of life for residents.

To nominate a hero you know visit ALFA's site at the link below!

via www.alfa.org

Free Webinar on Improving Senior Eye Health

 

The National Council on Aging (NCOA) is sponsoring a free webinar this week that will help older adults see well for a lifetime.

Date: November 18, 2010

Time: 1:30 PM ET - 2:20 PM ET

Glaucoma, diabetic eye disease, low vision, age-related macular degeneration, dry eye, cataracts—how well do older adults in your community understand these conditions and how to prevent them? Discover what you and your organization can do to promote senior eye health.

Speaker: Neyal Ammary-Risch, MPH, CHES, director of the National Eye Health Education Program at the National Eye Institute, part of the National Institutes of Health

Discover:

• The prevalence and impact of age-related eye diseases and conditions among older adults.
• The latest national survey data on what older adults know and practice regarding eye health.
• What the National Eye Institute’s Vision and Aging Program offers in community-based education about senior eye health.

To register for this great event click here!

6 New Radio Interviews to Help You and Your Aging Parent

Dale Carter, from Transition Aging Parents has announced her fall line up of interviews wiht authors and experts in senior living and caregiving.  She will be covering an array of topics that many of our readers will find helpful including helpful resources, insights to caregiving and actionable tools and strategies.

I hope that one or all of these radio interviews will be helpful to you!
 
(Archived recordings of previous interviews can be found at: http://www.transitionagingparents.com/podcasts/)

The live show show can be found at:  http://www.blogtalkradio.com/dalec

October 12th:  Sources of Financial Help for Your Aging Parent

Patricia Grace, founder of AgingWithGrace.com and veteran eldercare advocate, joins Dale to discuss sources of financial help for your parent.  Don't let your parent struggle needlessly when there is untapped financial help.  Tune in.  Call-in questions are welcomed.

October 19th:  Living With Purpose in a Worn Out Body

Missy Buchanan, author, speaker and inspirational force for our older adults, joins me to share how we all can reach out to the older adults in our lives, helping them to share their life's stories and wisdom. 

October 26th: Parent residing in Assisted Living?  What's My Role as a Caregiver?

So your parent is in Assisted Living.  Do you find yourself confused about how to transition from being a full-time caregiver?  Your parent needs you now more than ever. 

Kim Linder, host of The Caregiver Hour, will share how we can best advocate and care for our parent in an assisted living environment.

Nov 2nd:  Granting Dreams for Elders:  Changing the Perception of Aging

P.K. Beville, founder of Second Wind Dreams, joins us to share her organization's wonderful work of fulfilling dreams for older adults.  "Through the fulfillment of dreams and innovative educational programs, Second Wind Dreams, an international non profit, enhances quality of life for those living in eldercare communities and changes the perception aging." Join P.K. and Dale as they discuss this very important work, and she shares some amazing stories about the people and dreams they have fulfilled.

Nov 16th: Dr. Jamie Huysman  Are You at Risk for Caregiver Compassion Fatigue?

Dr. Jamie Huysman (psychologist, psychiatric social worker, and co-founder of Leeze Gibbons Memory Foundation) joins Dale to share the warning signs and elements of compassion fatigue and care provider burnout.  He'll also explore some solutions and tools in creating your own personal self-care plan.

Nov 30th: Loren Shook and Stephen Winner.  The Silverado Story - A Memory-Care Culture Where Love is Greater than Fear.

Loren Shook, Steve Winner (co-founders of The Silverado and co-authors of this soon-to-be published book (title above) will be with us to discuss the wonderful culture and care at Silverado Assisted Living communities and their new book.

New Educational DVD on Understanding Alzheimer's and Alzheimer's Safety

Understanding Alzheimer's and Alzheimer's and Safety is a two-program DVD packed with 50 minutes of practical advice for caregivers and people with dementia. This DVD was developed under the guidance of Alzheimer's Association experts and features tips from caregivers and people with dementia.

One DVD gives you two educational programs:

"Understanding Alzheimer's: An Introductory Guide" provides guidelines on diagnosis and treatment, as well as tips for everyday life with dementia. Topics covered in detail are: Getting a Diagnosis, What to Expect and How to Cope.

"Alzheimer's and Safety: A Guide to Planning and Preparation" outlines safety issues and helps with planning and preparation. This guide details what changes may be presented due to dementia, how to make your home safe, how to travel safely, medications and staying safe, wandering and driving.

Cost of the DVD is $24.95 and can be purchased by at the Alzheimer's Association Website here!

I know that I benefited by watching many of these types of videos when I first started working in this field.  Has anyone else had any experiences, positive or negative with these types of films?

 

Caregivers guides to Hospice and Palliative Care

Just found out about this important resource and thought I would share it with you!

United Hospital Fund's Next Step in Care has published a Family Caregiver's Guide to Hospice and Palliative Care

This guide answers a number of important questions when making the decision to transition to hospice or palliative care. It also provides a nice side-by-side comparison of Hospice vs.. Palliative care.  It is available in English, Spanish, Chinese and Russian.

To view the guide in English, visit: http://www.nextstepincare.org/uploads/File/Guides/Hospice/hospice.pdf


For all other languages, visit: http://www.nextstepincare.org/left_top_menu/Caregiver_Home/Hospice