Helping Families Navigate the Financial Challenges of Age Transitions

Category: Uncategorized (Page 1 of 2)

Who is watching over the nursing home managing Mom’s Social Security?

According to the U.S. Government Accountability Office, nearly a million individuals relied on organizational payees to manage their Social Security benefits in 2018. Due to an aging population, more beneficiaries may need organizational payees in the future. These beneficiaries are among the most vulnerable because, in addition to being deemed incapable of managing their own benefits, they lack family or another responsible party to assume this responsibility.… Read the rest

What the new “Patient-Driven Payment Model” could mean for Medicare nursing home care.

On October 1, 2019, the Centers for Medicare & Medicaid Services (CMS) began implementing a new payment system for Medicare-covered nursing home care. The payment system is called the “Patient Driven Payment Model” (PDPM). PDPM creates a new set of financial incentives for nursing homes to consider when admitting and discharging residents, as well as providing resident care.… Read the rest

Elderly hoarders must pay up or lose home. The Times – Apalachicola, FL

An elderly couple in Royal Palm Beach Florida has racked up over $400,000 of fines from citations received due to the deplorable condition of their home. 

Ralph and Marguerite McCormack, age 75 and 71, are reported to have dementia, have no children or close family, and suffer from a hoarding addiction. … Read the rest

4 Reasons Parents Don’t Discuss Money (and Why They Should)

Many adult children of aging parents find it difficult to talk to their parents about their finances. It is no wonder that these same adult children find it difficult to discuss their own wealth with their grown children.

Parents would be remiss if they did not talk to their children about drinking and driving, using drugs and, of course, sex.

Read the rest
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