Monthly Archives: October 2010

Senior Citizen Health Care Reform

The Patient Protection and Affordable Care Act was signed by President Barack Obama in March 2010. The Health Care Reform was set in place to strengthen Primary Care. It also had placed legal statures on the laws regarding health insurance and medical coverage. Senior citizens will see these changes throughout the next four years, since much of the law does not take effect until 2014.

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Senate Bill Helps Aging Baby Boomers Stay in Workforce

Retirement trends could create a U.S. labor shortage of 4.8 million workers in 10 years. Although many of today’s senior citizens find it is tough to find employment it may get a little easier is a new Senate bill passes. The bi-partisan bill has been introduced in the Senate to prevent projected dramatic declines in the workforce following the retirement of the baby boomers. It will provide incentives and eliminate barriers for older Americans wishing to stay in the workforce longer, and encourage employers to recruit and retain older workers.

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Senior Foreclosure Rescue Scams

It should be no surprise that senior citizens are the target of the latest financial scam – foreclosure rescue scams. At a hearing yesterday of the Senate Special Committee on Aging, Chairman Herb Kohl said seniors are three times more likely to have sub-prime mortgage loans than younger borrowers and these loans have driven the large increase in foreclosures.

“Senior homeowners are particularly vulnerable to rescue scams because many of them are on fixed incomes and rely on the equity in their homes as their primary financial asset. They are also particularly attractive to financial predators because they tend to have a larger amount of equity in their homes,” Kohl said.

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Seniors Using Credit To Pay For Health Care Costs

With soaring costs of prescription drugs, housing, gasoline and groceries, it is easy for seniors on fixed incomes to go over budget. According to experts, many seniors depend on Social Security payments, pensions and personal savings and cannot keep up with inflation, and, to keep up with the rising costs of prescription drugs and medical payments not covered by Medicare, retirees have accumulated more debt than ever.

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Arizona Prescription Health Insurance For Seniors

You may want to enroll in a Medicare Part D prescription drug plan to help pay for your outpatient prescription drugs that neither Medicare A now Medicare Part B cover. Since Medicare Part D prescription drug plans vary from one location to another, there are several Medicare Part D prescription drug plans available to you or your aging loved one. You will need to know what plans are sold and which plan fits your needs the best. There are a few key things you should know about senior elder prescription health insurance.

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Health Insurance Rates for Senior Citizens in Ohio

Health insurance is a concern for all people of all ages, but for those in their senior years, it is important to know which insurance to choose, which insurance you need, and information about healh insurance rates for senior citizens in Ohio.

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Long Term Care Insurance and Senior Citizens

The intent of long-term care insurance is to reduce the costs if someone needs long-term care from a paid provider. Long term care insurance can help with the costs of care facilities. This may include a nursing facility, home care, assisted living, but the insurance will not cover the full cost of the care. Many people invest and pay premiums for long-term care insurance for years before they need long- term care, and often times they may never need to use the insurance. Qualifying for long-term care insurance when you have health problems can become difficult in your later years. A policy with poor terms can turn out to be a wasted investment, but many people get it for peace-of-mind. People may buy long-term care insurance because of the rates of senior care that their loved ones may not be able to pay for when the times comes. Medicare rarely covers long-term care costs and expenses, so the insurance would be a beneficial investment in that instance.

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Hospice and Medicare Services

Seniors who suffer from an illness, a life-threatening disease or those who are nearing the end of their life may need Hospice services. Hospice can help seniors and their loved ones transition into their final stages of their life. Sometimes hospice patients have a few weeks before their life ends, and in those final weeks of life Hospice provides comfort for both the patient and their loved ones.

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Nursing Homes Accepting Medicaid Patients

People who choose to arrange for a loved one’s care enter into a world of new definitions, new rules, and new qualifications. Often times, one doesn’t know what to believe, what to question, and what to research, as there is an inherent trust in any person of authority giving you an honest answer. Time to doubt what some say.

Many of us have heard firsthand that nursing homes avoid Medicaid patients because of the complex rules and requirements that they must meet as operators. Federal licensing standards are strict, requiring a higher ratio of skilled to non-skilled personnel. The licensing procedure itself can take up to three years to complete. The billing process also is more complex, requiring documentation to back up costs for services.

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Differences Between Medicare | Medicaid

Simply put, Medicare is a federal health insurance program for people age 65 and older, certain people under 65 with disabilities and certain people with kidney disease. Medicaid, which is administered by the states, is a program of health coverage for certain people with low incomes or very high medical bills. Eligibility for Medicare depends on age or disability only; eligibility for Medicaid depends on age, disability or family status and on an individual’s (or family’s) income and resources.

Coverage Differences Between Medicare & Medicaid:

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