What Is the Great Wealth Transfer?

According to research, the great wealth transfer is referring to approximately $30 trillion in assets that will be passed on from baby boomers to their children and grandchildren in the next couple of decades. This creates numerous challenges for beneficiaries, baby boomers themselves and the financial industry as well. Many of these aging baby boomers… Read More »

New Medicare law notifies patients of nursing home loophole

A new Medicare law now requires hospitals to notify patients that they may incur huge out-of-pocket costs if they stay in the hospital more than 24 hours before being officially admitted. Some hospitals have kept some patients in limbo — for “observation” without having them officially admitted. Sometimes, they are kept overnight for days without… Read More »

Elder Care Company Nailed in Fraud Probe

Be very careful when selecting a nursing home for a loved one. A recent news story, reported on thinkprogress.org, showed that many homes are actively defrauding not only residents but the government. The head of a company that runs more than 30 nursing homes in Florida has been charged with defrauding Medicare and Medicaid of… Read More »

Health Care Options For Elderly, Disabled

There are several options for health insurance for the elderly and disabled. A story on post-gazette.com outlines the various options. Medicare is available for those over 65 or who have been disabled for two years. There are a number of options including traditional Medicare or Medicare Advantage. With traditional Medicare, most also purchase a supplemental… Read More »

Prescription For Confusion

Taking medications at the proper time is a special problem for the elderly. They take many more drugs than younger people do, many take seven or more a day. Yet studies show that the more times a day you have to take a medication, the lower the chances of adhering to the proper schedule, says… Read More »

Medicare Encourages End of Life Talks

Medicare patients will be urged to discuss advance care planning with their doctors next year more frequently due to changes in billing codes. Starting in 2016, Medicare will allow payments to doctors for counseling their patients about end of life planning at different times. In the past, it would allow payments only on the first… Read More »

No Social Security Raises, But Medicare May Go Up

For only the third time in 40 years, Social Security beneficiaries will see no increase in payments, since the cost of living has remained flat, mostly due to falling gas prices. However, as a result, about one-third of Medicare recipients will face large premium increases unless Congress or the president acts. Social Security benefits for… Read More »

Medicare Or The Marketplace?

If you are nearing age 65 and are currently getting your health insurance through the Affordable Care Act (“Obamacare”), should you stay on your plan or switch to Medicare? View image | gettyimages.com In most cases, you should go on Medicare, says an article on elderlawanswers.com. While you may be able to keep your marketplace… Read More »

Medicare Changes Nursing Home Rating System

The government this month announced major changes to its five-star rating system for nursing homes, a widely used consumer tool that had been criticized for relying on data supplied by the homes themselves. http://gty.im/467305381 Under the new system, the homes will have to begin reporting their staffing levels quarterly using an electronic system that can… Read More »