What Do I Do When I Have Only One Original of My Mom's POA and a Company Wants Many?
I have both medical and durable power of attorney (POA) for my mother, who is living in a memory care facility. She has not b...
Read moreMore than 5 million people in the United States are living with Alzheimer's disease, a 10 percent increase from five years ago, according to a new report from the Alzheimer's Association. This number includes 4.9 million people over the age of 65 and between 200,000 and 500,000 people under age 65 with early onset Alzheimer's disease and other dementias.
The report confirms the beginning of the long-forecast dementia epidemic. With 78 million baby boomers entering or approaching their 60s, someone in America develops Alzheimer's every 72 seconds. By mid-century, unless scientists discover a way to cure or delay the disease, someone will develop Alzheimer's every 33 seconds, the Association says.
The escalation in reported cases is in large part due to success in fighting other illnesses like heart disease and cancer. "We're keeping people alive so they can live long enough to get Alzheimer's disease," explained association vice president Steve McConnell.
But those living long enough to get cognitive diseases like Alzheimer's are not covered by Medicare for their long-term care costs. Victims who require care must rely on family members, long-term care insurance if they were able to purchase it before getting sick, or Medicaid.
The report comes as Congress is considering more funding for research into Alzheimer's and more help for family caregivers. The Alzheimer's Association report was released at a hearing chaired by Sen. Barbara Mikulski (D-MD) who, along with Sen. Kit Bond (R-MO), has introduce The Alzheimer's Breakthrough Act of 2007 (S. 898), which doubles funding for Alzheimer's research, and The Family Assistance Act of 2007 (S. 897), which creates a $3,000 tax credit for families caring for a loved one with a chronic condition like Alzheimer's to help them pay for prescription drugs, home health care and special day care.
For the Alzheimer's Association press release and a link to download the report, click here.
For a USA Today article on the report, click here.
For more on the congressional hearing, click here.
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Read moreIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MOREIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
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READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
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