It isn't news that Americans are reluctant to buy private long-term care insurance. Only 7 million have policies and the market is essentially dead in the water. But why don't we plan for the risk of needing assistance at some point in our lives? After all, 7 of every 10 of us will need care sometime after we reach age 65 and others will need it at [...]
Read this powerful story by Sally Jenkins about University of Tennessee women's basketball coach Pat Summitt, who, at 59, was recently diagnosed with early onset Alzheimer's. Despite the disease, the legendary coach says, "You don't quit living. You keep going." In fact, Summitt isn't even planning on quitting coaching--at least not for a while. For now, she'll rely on her assistants to [...]
Elder abuse is hard to define, and it is a challenge to know how widespread it is. But it is a deeply serious problem and I recently came across two elder abuse stories worth passing on. If you are an elder care professional or an adult child caring for parents, read them carefully. And beware. The first is courtesy of Steve Goldberg, a Washington, D.C. investment adviser and contributing [...]
In a move that shocked many in the elder care community, California has ended funding for its adult day care program. The question now is what will happen to the nearly 5,000 others that operate throughout the country. California's $169 million program serves about 35,000 low-income seniors and other adults with disabilities. The program will end in January when state Medi-Cal funding (the state's [...]
At first glance, it looks like Medicaid and other key government programs for the frail elderly and others with disabilities avoided a major hit in the debt limit agreement reached by Congress today. But in truth all of these programs remain in severe jeopardy. The complex deal calls for several stages of deficit reduction. The first is a cut of $25 billion [...]