In his 2013 budget released today, President Obama has proposed cutting $250 billion out of Medicare and $65 billion out of Medicaid over the next 10 years. Nursing homes,hospitals, and other providers would be paid less, while some Medicare beneficiares would have to pay more out of pocket. At the same time, federal spending for other critical senior services programs would be frozen--in many [...]
We’ve all seen the articles in Forbes, Kiplingers, or U.S. News trumpeting the best states to live in retirement. A key measure for them all: Low taxes. What you may not know is that states actively compete with one another to provide tax breaks to older residents—especially to wealthy seniors. This competiton is similar to the way states use tax [...]
In a recent survey, The Washington Post asked white women and black women about their outlook and priorities when it comes to issues such as money, religion, and marriage. And in many cases, they found very big differences. But when it came to one issue, there was no disagreement at all. You guessed it: Caregiving. Nearly two-thirds of both African-American and white women worried about family [...]
My best guess is that Congress will formally repeal the CLASS Act in 2012. Already abandoned by the Obama Administration, CLASS has no champion on Capitol Hill and is likely to fall victim to implacable Republican opposition and a lack of Democratic support. Thanks to technical budget rules, Congress can now kill the national, voluntary long-term care insurance program without [...]
Private long-term care insurance can be an important tool to protect against the risk of needing costly personal assistance in old age. But two respected financial economists conclude it is very expensive relative to the benefits it provides and may not be appropriate for many buyers. At the same time, a new consumer brief from the Society of Actuaries suggests how much wealth you should have for coverage to make sense. The research paper from economists [...]
On Monday, a presidential advisory group set a goal to prevent and effectively treat Alzheimer's Disease by 2025. There is much to like about this proposal, but it should come with a consumer warning: There is a lot less to this plan than meets the eye. Let's start with the good news. This initiative is potentially an important step forward as [...]
Want to see the future of adult day programs for the frail elderly and adults with disabilities? Just watch what is happening in California, where 26,000 participants and the centers that care for them are struggling to manage state budget cuts and huge uncertainty. Adult day programs can be a key support for the frail elderly or other adults with [...]
Eighty-give percent of physicians say that unmet social needs lead to worse health outcomes, according to a new survey sponsored by the Robert Wood Johnson Foundation. But only 20 percent are confident in their ability to help patients and their families meet those needs. Talk about good news and bad news! The survey asked about a wide range of social [...]
Congress is slowly starving senior services programs. In the 2012 budget it passed as it was leaving town last weekend, Congress froze or cut spending for a broad range of government programs aimed at seniors and their caregivers--everything from Meals on Wheels to long-term care ombudsman training to information and referral services. Most of these cuts were not dramatic and only a handful [...]
Government funding for programs to support aging in place was still growing through 2008, but much more slowly than in the past. At the same time, states were making it harder to enroll, limiting benefits, and forcing people to wait longer before they could participate in these programs. And all that was happening before Medicaid home care faced major budget cuts in the face [...]