Archive for July, 2009

Too Few Seniors Get Home Care: AARP Reports Medicaid Limits Access

Monday, July 27th, 2009

Even though most older Americans would prefer to receive care at home rather than in nursing homes, many states have been slow to reform their Medicaid programs to make that choice widely available. Instead, most states have done a much better job of using Medicaid dollars to help people with developmental disabilities remain in their homes and communities than to help older people and adults with physical disabilities.

Those are among the findings in A Balancing Act: State Long-Term Care Reform, a report released July 11 by the AARP Public Policy Institute. The report is the first ever to examine Medicaid spending specifically for older people and adults with physical disabilities, as distinct from other groups needing long-term care.

The study yielded surprising data. “We really didn’t realize how far behind services for older people were, compared to services for people with developmental disabilities,” says Enid Kassner, the institute’s director of independent living and long-term care, and lead author on the report.

To read more: http://bulletin.aarp.org/yourhealth/caregiving/articles/too_few_seniors_get.html

World's Senior Population to Triple-Aging Avenues, Indianapolis IN

Wednesday, July 22nd, 2009

Here is an interesting article about what the future holds for the senior population.

New Test to Help Spot Early Alzheimer's

Tuesday, July 21st, 2009

New tests are being developed to help diagnosis early Alzheimer’s.

Is Medicaid Planning Ethical?

Monday, July 20th, 2009

As in any area of consumer spending, knowing what to look for and what strategies to use in arranging for paid care services can often result in saving money.

Not Your Grandmas Reverse Mortgage Anymore

Monday, July 20th, 2009

Many people don’t realize that Reverse Mortgages have been around since 1961. While I have heard several companies take credit for doing the first reverse mortgage, I believe the first one was done in New Jersey. The lady not only outlived her reverse mortgage loan but she also outlived her loan officer. The original reverse mortgages did not have much protection for the senior.

Over the years, several safeguards have been put into place. One of those safeguards is the requirement that all reverse mortgage applicants go through counseling. The reverse mortgage (called a HECM Home Equity Conversion Mortgage) is an FHA or government insured loan. FHA wants the counseling to be done through a third party agent who has no financial ties to that loan. While this may seem a bit paternalistic, it’s a really good idea. This gives the senior another opportunity to ask questions and to hear about how the loan works. In many cases, the senior can bring their adult children or other financial adviser to their counseling appointment. It’s important that seniors also look at any options they may have and counselors assist in that process. The counseling takes about 45 min to an hour and in most cases it is be done over the phone. Some counseling can be done in person as well. As of August 2008, Counseling Agencies may now charge for their services. There are, however, some agencies who can waive their fee ($125) for seniors who are financially unable to pay. Always ask your counselor about this option. Once the counseling is done, the senior will receive a certificate of completion and this certificate is required before the lender can order an appraisal on the property.

Another safeguard, is the mortgage insurance premium (MIP). While this insurance is added to the costs of the loan, it’s invaluable in protecting seniors and their families. This insurance means that the senior can never owe more than the property is worth. If that were to happen, the lender would simply make a claim against that insurance for any loss and the lender would never go after the senior or their heirs for that difference. This means that the senior will not ever leave a debt for their family. This is very important to the majority of reverse mortgage customers.

A third safeguard is the maximum age. The original reverse mortgages stopped at age 100 but today, the reverse mortgage is good until age 125 or until the senior permanently vacates the property (after one year), whichever comes first. We haven’t had any seniors reach 125 yet!

A more recent addition to the reverse mortgage program is the addition of fixed rate reverse mortgage products. In the past, all reverse mortgages were adjustable rate loans. Fixed rate loans today, provide the customer with the maximum amount of loan when compared to the adjustable loan. This can change as interest rates go up and down but currently, the fixed rate does afford the maximum proceeds from the loan amount. While adjustable rate loans may still be viable for some seniors, it’s nice to have the option to choose from. If you still have questions about the safeguards available with the reverse mortgages today, talk to your reverse mortgage specialist. He or she will be happy to fill you in on all the details of this wonderful product.
Brenda Wheeler, Reverse Mortgage Specialist, M & I Bank Indianapolis
To learn more about this and other senior care funding options go to www.agingavenues.com or call 317-731-3315.

Indianapolis, Indiana Families Plan for Eldercare

Wednesday, July 15th, 2009

Family Reunion–a Good Time for Family Planning

Summertime brings a lot of family time. With family reunions, picnics, weddings and other events, long distant family members travel to gather together. It is also the perfect time to do some planning for the future. With parents aging and their health and lifestyles changing, children need to discuss some changes and decisions that will be needed in the near future. Parents should take the time to tell their children where important documents are kept and what their wishes are in the event of needing health care directives or experiencing long term care needs.

For those children who live away, the change they see in their parent’s health and mental capacity may be alarming — whereas siblings that have daily contact are working with these issues constantly. Here is the chance to compare notes and work together as a complete family in the long term care planning process.

For you parents who are well and active, this is a good time to hold a family meeting and share with your children your plan for long term care. Tell them where financial and legal documents are located. Review health care directives, living wills and long term care alternatives.

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Opportunity for Eldercare Professionals and Family Caregivers to Participate in Alzheimer’s Research Clinical Trial

Sunday, July 12th, 2009

Elder Life Planning recently signed a contract to provide ongoing consultant services to a major Alzheimer’s research firm. Our client has successfully completed the first 2 phases of research trials, known as the ICARA study, on a breakthrough drug to treat Alzheimer’s.(If you watched the HBO Alzheimer’s Special recently, the drug, Bapineuzumab, along with the ELAN research team, was prominently featured.)

They have now received approval from the FDA to move into Stage III of the drug trials which allows them to expand the scope of the research nationwide and in Canada.

Our role in the project is to identify potential participants in the Stage III trial and assure their ongoing commitment and compliance with the clinical protocols. Participants will include elders who are showing signs of mild to moderate dementia and a designated caregiver. (Residents of dementia units would not be suitable as they are likely to be at a more advanced stage than the research criteria requires.)

We can recruit and screen subjects using home care agencies, assisted living residents, adult day health programs, and geriatric care managers.

There is an opportunity for geriatric care managers, assisted living facilities and home care agencies to play an active role in this project as well as other clinical trials in the near future. This could include helping us to follow subjects and family caregivers who are either living at home, or in assisted living facilities for 18 months.

There are some significant advantages for elder care professionals to participate in this study as it will be receiving widespread media coverage as the trial progresses.

This is the first time that the scientific community involved with cutting edge research on illnesses that primarily affect elders has worked with a nationwide network of eldercare professionals. We at Informed Eldercare Decisions believe that the time has come for professionals who interface with those most likely to benefit from this research to play an active role in these studies. This new partnership between the provider community and the research community also opens up new revenue opportunities for both non-profit and for profit eldercare agencies.

Rather than try to describe the project in any more detail in this newsletter, I encourage you to review an excerpt from the HBO Alzheimer’s Special that specifically describes the breakthrough research we are now involved with.
If you think you or your agency or eldercare professional practice would be interested in exploring participation in these studies further please review the following excerpt from the HBO broadcast.

“Inflammation, the Immune System, and Alzheimer’s”
(Approx. 29:23 min) Featuring: Joseph Rogers, PhD-Banner Sun Health Research Institute; Dale Schenk, PhD- and his research team at Elan Pharmaceuticals.

You can view the video by placing either of the following links into your URL locator.

http://www.hbo/alzheimers/supplementary-inflammation-the-immune-system-and-alzheimers.html

Alzheimer's Care Facilities Explained in Indianapolis, Indiana

Friday, July 10th, 2009

Here is a great article for anyone in need of Alzheimer’s care for an aging loved one.

Elder Care in Indianapolis, Indiana

Thursday, July 2nd, 2009

Elder care shifting away from nursing homes

Here is a great article I found in USA Today that is helpful for anyone considering an adult day care center, assisted living facility or hiring a geriatric care manager in the Indianapolis IN area.