Category Archives: Finances

Why Nobody in the Family Talks About Money

by Joy Loverde Award-winning journalist and Reuters contributor, Chris Taylor recently wrote an insightful article titled, Why nobody talks about money.   Chris backs up his findings with a study conducted by Wells Fargo & Co. that explains, “44% of Americans point to personal finances as the most challenging chat anyone can possibly have.”  …
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Adult Day Care – The Compassionate and Affordable Senior Care Solution

By Inger Rarick Most of us will have to manage the care of an aging loved one at some point in our lifetime. A loved one can need additional care because of a medical condition or complication, a decline in cognitive functioning, or increasing isolation and depression. The responsibilities and challenges can be overwhelming for…
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Getting Paid for Family Caregiving

by Joy Loverde I received so many emails from people who are seeking ways to be paid for family caregiving that I felt it was important to offer some of the strategies from my book, The Complete Eldercare Planner. To begin, first review your own financial situation. This is an important step in the process.…
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Finding an Elder Law Attorney to be Your Medicaid Advisor

Many Medicaid advisors are elder law attorneys. When your parent owns property and has investments then a Medicaid advisor can guide you and your parent through options to preserve your parent’s estate.  In a recent post, I discussed the importance of planning for your parent’s smooth transition to Medicaid. A Medicaid advisor will guide you…
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Cost of Elderly Health Care

On average, the cost of elderly health care is $5,531 annually. Family members not only provide hands-on care but often dig into their own pockets to pay other expenses which include groceries, drugs and medicines, medical equipments such as wheelchairs, toilet seat risers and transportation. Many times family members have to miss work and lose…
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Protection from Financial Elder Abuse

by Janice Wallace Protecting your parent from financial elder abuse is an important parent care responsibility.  This type of abuse robs your parent of her money and her freedom because money equals choice when it comes to elder care services. Financial elder abuse is defined as a person taking an elder’s money or property for…
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Extra Eldercare Help for Prescription Drugs

by Mary Jane Stern The Medicare Prescription Drug program gives you a choice of different plans with different coverage and cost.  Medicare estimates that the extra help can be worth up to $3,900 per year. The extra help can help you pay for: Monthly premiums Annual deductibles Co-payments But, you must be enrolled in the…
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Has Your Income Gone Down

If you are enrolled in Medicare Part B, you are probably aware in 2008 premiums were adjusted based on your income. Medicare generally uses your most recent tax return that you have filed with the Internal Revenue Service (IRS).  If you are enrolling during 2009, they will use your 2008 return and sometimes they can…
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