Elderupdates.com blog – Number 4

– In “HUD Makes Mandatory Changes to the Reverse Mortgage” the National Academy of Elder Law Attorneys magazine of December, 2013, reports that new reverse mortgage rules  will limit the amount lump sum of funds that can be borrowed to 70% of the homes value.  (NAELA News, December, 2013). – AARP advises 6 particular types of scam artists to look out for:   1) Romancers who promise you love and romance, (of you can just send them money for the plane ticket..);   2) Charity: Knowing the elderly are less guarded, some pretend to be charities helping members of a sympathetic group such as veterans or cancer patients;   3) Grandparents: An email from your grandchild in the middle of the night asking for bail or another emergency;   4) Home Repair: Contractors who just happen to notice your house needs work when driving by; 5) Health Care: Especially with the new health care law, be on the lookout for medical identity theft, (so they can get medical services or products under your name); and  6) Investment scams: Have a free lunch with us and learn how to protect your money while making millions!.- If one does not sign up for health insurance by March 31st, he or she will not be covered if they experience an illness or injury.  They will not be able to sign up for health care through the exchanges and may likely end up paying the full costs of their injury. – L.A. County panel suggests creation of a foster care czar to coordinate various county agencies dealing with child welfare matters and impose greater oversight of private foster care homes....

Elderupdates.com blog – Number 3

Welcome to the Elderupdates.com blog. I hope to provide you with timely reports on law and changes in law, health, investments, news, and other matters I think will be of interest to you, my clients, friends, colleagues and associates in a quick, readable, enjoyable format. If you enjoy it, please forward it on. – As of January 1, 2014, seniors who seek mental health services under Medicare will be able to access these services under Medicare and pay 20% of the bill, as they do for physical medical services.  New York Times, December 27, 2013. – Unless a senior is enrolled in a Medicare Advantage plan such as Kaiser, he or she may be able to purchase dental insurance through one of the Affordable Care Act (Obamacare), exchanges, such as Covered California.  New York Times, November 1, 2013. – The new budget agreement “swaps near term spending cuts for long-term spending cuts”, and reduces the chances of a budget shutdown in January, but fails to address changes to ensure the long term viability of Medicare, Medic-aid (Medi-Cal), and Social Security.  The agreement ignores the debt ceiling and allowed unemployment benefits to expire.  Federal employees hired after December 31, 2013 will have to contribute a “little bit more” to their pension plans.  The Economist, December 14, 2013. – The Los Angeles 2020 Commission has concluded that Los Angeles is in an economic decline, weighed down by poverty and unsustainable spending.  The Commission states that revenues have remained flat since 2009, that the middle class is shrinking, and that responses by the government have been “wishful”.  The Commission is supposed to make recommendations for...

Elderupdates.com blog – Number 2

Welcome to the Elderupdates.com blog. I hope to provide you with timely reports on law and changes in law, health, investments, news, and other matters I think will be of interest to you, my clients, friends, colleagues and associates in a quick, readable, enjoyable format. If you enjoy it, please forward it on. — Healthcare cost rose 4% in 2012 (Los Angeles Times, January 7, 2014). — Payments to Medicare Advantage plans are being reduced by $156 billion for the decade between 2013 – 2022. Medicare Advantage plans have received approximately $3.35 per month more per beneficiary, and have also provided greater benefits, than traditional Medicare. The goal is to equalize the payments per beneficiary for both types of plans. (New York Times, Economix, Uwe Reinhardt, January 3, 2014.) — In Los Angeles, homeless are ticketed for jaywalking and being in Union Station without tickets. (L.A. Times, December 22, 2013.) New York and Los Angeles have the highest homeless rates in the country. (The Week, December, 2013. ) Approximately 20,000 people sleep on the streets of Los Angeles each night. (L.A. Times, December 12, 2013.) — The Average Private Pay Rate for a nursing home room in California is now $7,549 per month, according to California Advocates for Nursing Home Reform. That’s $90,588 per year, so finding ways to keep the elderly at home with their families could generate important cost savings. — The hospital deductible for Medicare Part A for the first 60 days is $1,216. After that it is $304 for the next 30 days, increasing to $608 per day for days 91 – 150. Skilled Nursing...