While Medicare generally provides health insurance coverage for those 65 and older, few people are aware of what is not covered by Medicare or how these costs can be quite high. Medical costs such as dental, vision, hearing, long term care services and other out of pocket expenses are not covered by Medicare. According to The Commonwealth Fund, Medicare beneficiaries spend on average over $3000 per year on out of pocket costs. Such amounts are particularly burdensome to those seniors with low income – a group that makes up about one-half of all Medicare beneficiaries. As the baby boom population becomes eligible for Medicare – further increasing the overall financial burden on the program – any potential reform will need to address those most at risk – the poor.
Former First Lady Rosalynn Carter once said that “there are only four kinds of people in this world: those who have been caregivers, those who currently are caregivers, those will be caregivers and those who will need caregivers.” Currently an estimated 40 million people providing care to an adult family member or other loved one. […]
In her new book, “Old & Sick in America: The Journey Through the Health Care System” Dr. Murial Gillick addresses many of the common struggles older patients can have with our health care system. These can include being seen briefly in a hospital by a physician you’ve never met before, who isn’t familiar with your […]
Protecting assets from nursing home expenses is an issue that I am frequently asked about. Sometimes it may arise after a heart attack, stroke or other concern. Other times it may arise after a loved one moves into an assisted living facility or nursing home due to Alzheimer’s. Whatever the motivation, it is topic that […]