By Lucy Stewart, a financial counselor
for families looking to get out of debt
Forty-eight percent of middle-age adults provided support to their adult children in 2012, which is up from 42 percent in 2005, according to PewSocialTrends.org. Also up is the financial support they provide their aging parents: 21 percent said they provided some financial support to a parent age 65 or older in 2012, up from 19 percent seven years earlier.
Offering financial support to your adult children and 65+ parents does not mean that you give up your own financial plans and dreams. Family is family, but sacrificing your personal well-being won’t benefit anyone. Look for ways to cut expenses and create streams of income, and don’t assume you have to do this alone. Read the rest of this entry »
FierceHealthPayer.com recently published an article that looked at successful strategies to improve health care and lower costs. It mentioned
- bundled payments,
- global payments, and
- accountable care organizations.
But that’s as far as it went, so I added the following response to show other ways that the ACA and changes to the healthcare Payment system can disrupt the Deliver system. Read the rest of this entry »
As a member of the American Telehealth Association (Austin chapter), I too support the Telehealth Enhancement Act, however I see it as just a baby step and think much more is needed. Still, it’s a step in the right direction.
The proposed bill would modernize the Medicare program by allowing Medicare patients to be cared for remotely by a licensed healthcare provider from any state. That way, if you need medical help while on vacation, you could connect online or by phone with your own doctor back home without requiring that they be licensed in the state you traveled to. I urge Congress to adopt this bill and expand it beyond Medicare, to other federal agencies and health benefit programs.
In honor of the 50th anniversary of the March on Washington and Dr. Martin Luther King Jr.’s ”I Have a Dream” speech, Dan Munro wrote a wonderful column on Forbes reminding us that King saw healthcare as a civil right. Sadly, we have made little progress on healthcare inequality, with roughly 50 million Americans without health insurance and another 40 million under-insured.
The Affordable Care Act (Obamacare) is poised to relieve some of that, with the individual mandate to buy healthcare insurance and subsidies for low-income Americans. But individual states are still allowed to choose whether or not to support and fund a key component of the ACA – Medicaid expansion. Many will, but some won’t.
Many doctors have walked away from taking Medicaid patients, and some have abandoned Medicare patients too. Read the rest of this entry »
CAPABLE, which stands for Community Aging in Place, Advancing Better Living for Elders, is a Baltimore-based project that helps low-income older adults “age in place” with assistance from occupational therapists, nurses and handymen.
The project is being closely watched by Medicaid officials in other states as a way to coordinate care, improve personal function, and avoid pricey and sometimes preventable nursing home admissions. Today, it’s difficult for Medicaid patients to get these services.
With more than $8 million in research money from the National Institutes of Health and the Centers for Medicare and Medicaid Services, the project goes beyond home repair for health. It starts with a full-scale assessment of each participant’s needs. Read the rest of this entry »
Guest article by Albert Lester (editor enhanced)
Americans keep living longer. According to the CIA World Factbook, 26% of Americans are older than 55. Just more than 40% fall in the 25-54 age range, double the rate for those under age 14, and dwarfing the number of 15-24 year olds. Moreover, our population growth is less than one percent. For baby boomers, some of whom have already entered retirement, this brings an interesting question: will there be enough entitlement funds to help support them in old age, and will there be enough caregivers in the smaller generation groups that follow them to meet the demand? Read the rest of this entry »
By Caroline Montague
With an aging population and a generation of young adults struggling to achieve financial independence, the burdens and responsibilities of middle-aged Americans are increasing. Nearly half (47 percent) of these adults have a parent age 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older). In addition, about one in seven middle-aged adults (15 percent) are providing financial support to both an aging parent and a child.
Adult children, worried about costs and the loss of their parents’ independence, must make difficult decisions about the best options for care for their loved ones. Assisted living communities, such as Emeritus assisted living, allow individuals to remain independent as long as possible in an environment that maximizes the person’s autonomy, dignity, privacy and safety. These types of communities also encourage family and resident involvement. (Editor: Emeritus is one of the largest and most well known, but you can also compare facilities in your area by zip code.) Read the rest of this entry »
The rising cost of medical bills is a concerning issue, particularly if you are retired and are facing health challenges. As the cost of medical procedures increases, a large number of American adults are filing for bankruptcy. The high cost is expected to cause 1.7 million individuals and families to file for bankruptcy, reported Today.com. Although the numbers are troubling, it does not mean you do not have options to help improve your personal situation.
Check For Obvious Errors
Before you assume that the price given on your medical bill is accurate, read through the details and check it for accuracy. Roughly 80 percent of medical bills have an error, according to Mint.com. The errors can come from simple mistakes in inputting data, coding errors or bugs in the system. Read the rest of this entry »
Obamacare does so many things to give people better access to affordable, quality health care. The folks at Colorado Consumer Health Initiative just like to say THANKS OBAMACARE with this moving infographic about President Obama’s healthcare plan and how it actually helps people. Nothing is perfect, but we think there are a lot of positives that came out of this whole thing, and politicians focus only on negative talking points. ugh.
Paying health insurance can be a big financial burden. However, it is something that you need to have if you want help with the cost of medical procedures. Although it may not pay for everything, it can help to spread the cost of health care. It can seem like a lot of money disappearing each month, but you have to consider that it will cover the health costs for you and your family. There are some things that you can do though, to bring the cost down or make sure that it stays lower for longer as you age. Read the rest of this entry »