Rachel Ensign-Planning for Parent’s Future

Here is a link to an article worth reading from Rachel Ensign (Wall Street Journal Sunday writer) : http://online.wsj.com/article/SB10001424052702304743704577379843587402720.html?KEYWORDS=rachel+louise+ensign Rachel’s article points out the mistake it is to wait for our own retirement before we discuss our own parents plans for older age. She quotes Gregory French , an attorney who is president elect of the National Academy of Elder Law Attorney’s.  Mr French states planning is a whole lot more expensive than it needs to be if we wait. ———————————————————————————————– You can obtain a long term care planning organizer and tips for long term care insurance at the following ...
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Medicare Premiums and Deductibles 2012

Most of us know the Year 2012 Part B premium across the Board regardless of enrollment date is $99.90. Part B premiums pay for the cost of physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and some other items (drugs administered by infusion, for example). Also remember the Part B premium must be paid in order to be a Medicare Advantage Plan participant. However, this premium amount is means tested and so the premium is increased by $40 if your individual provisional income (including tax exempt income) exceeds $85,000 or your joint return provisional income exceeds ...
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Medicare – Resources and Benefits for Caregivers

Ask Medicare – www.medicare.gov/caregivers/,  this resource provides information, tools and materials to assist the caregiver and their loved ones in making informed healthcare decisions. The website provides a sign-up for an e newsletter emailed bi-monthly. The newsletter provides information on important dates such as open enrollment, changes in programs, and other available resources.Eldercare locator – www.eldercare.gov/ is a public service of the US Administration on Aging and is the first step to finding resources for older adults in any US community.Meals on Wheels – www.mowaa.org/Page.aspx?pid=183 This organization is the oldest and largest organization in the US representing those who provide ...
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Significant Presidential Election Year Question – how will the Executive branch of the Federal Government convince the Legislative branch to solve this inequation ——————————————————————————————————Money received for Medicare from employment during an individuals lifetime = $120,000  vs Money paid for Medicare benefits during an individuals lifetime = $350,000.   When multiplied by 70,000,000 Boomers now reaching Medicare eligibility the country cannot sustain this INEQUATION.  The unfunded difference is over $14,000,000,000,000 i.e. trillion dollars. The total US debt today is slightly above $15,000,000,000,000 i.e. trillion dollars.  Sources – Urban Institute and the US Debt clock.  ...
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Medicare Education 101

Video – Disability Benefits from Social Security and Medicare  Beginning in January 2012 I will use this blog to make the Medicare Training Program materials (in some cases they are interactive videos available) available.  Many of the videos are on You Tube but I will selectively filter out the better, more informative ones. This first video discusses the benefits available to disabled individuals with a prior work experience (aka OASDI)  credits and without work experience credits (SSI). Remember my website address is www.moranlong.com      ...
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Medicare Education 101

Video – Disability Benefits from Social Security and Medicare  Beginning in January 2012 I will use this blog to make the Medicare Training Program materials (in some cases they are interactive videos available) available.  Many of the videos are on You Tube but I will selectively filter out the better, more informative ones. This first video discusses the benefits available to disabled individuals with a prior work experience (aka OASDI)  credits and without work experience credits (SSI). Remember my website address is www.moranlong.com      ...
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Medicare Education 101

Video – Disability Benefits from Social Security and Medicare  Beginning in January 2012 I will use this blog to make the Medicare Training Program materials (in some cases they are interactive videos available) available.  Many of the videos are on You Tube but I will selectively filter out the better, more informative ones. This first video discusses the benefits available to disabled individuals with a prior work experience (aka OASDI)  credits and without work experience credits (SSI). Remember my website address is www.moranlong.com      ...
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Medicare Education 101

Video – Disability Benefits from Social Security and Medicare  Beginning in January 2012 I will use this blog to make the Medicare Training Program materials (in some cases they are interactive videos available) available.  Many of the videos are on You Tube but I will selectively filter out the better, more informative ones. This first video discusses the benefits available to disabled individuals with a prior work experience (aka OASDI)  credits and without work experience credits (SSI). Remember my website address is www.moranlong.com      ...
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Medicare Education 101

Video – Disability Benefits from Social Security and Medicare  Beginning in January 2012 I will use this blog to make the Medicare Training Program materials (in some cases they are interactive videos available) available.  Many of the videos are on You Tube but I will selectively filter out the better, more informative ones. This first video discusses the benefits available to disabled individuals with a prior work experience (aka OASDI)  credits and without work experience credits (SSI). Remember my website address is www.moranlong.com      ...
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Medicare Education 101

Video – Disability Benefits from Social Security and Medicare  Beginning in January 2012 I will use this blog to make the Medicare Training Program materials (in some cases they are interactive videos available) available.  Many of the videos are on You Tube but I will selectively filter out the better, more informative ones. This first video discusses the benefits available to disabled individuals with a prior work experience (aka OASDI)  credits and without work experience credits (SSI). Remember my website address is www.moranlong.com      ...
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Taxes & Your Money-Caregiver tax deductions

Source for this case summary – The AICPA Journal of Accountancy The Tax Court held that payments made to an elderly woman’s caregivers for personal care that she required due to her diminished capacity qualified as long-term-care services and were therefore deductible under IRC § 213(d)(1)(C) (Estate of Baral, 137 TC no. 1 (2011)). Lillian Baral was diagnosed by her physician as suffering from dementia, and the physician determined that she required 24-hour assistance and supervision for medical reasons. Her brother (who handled Baral’s financial affairs under a power of attorney) hired two individuals to provide that care and paid ...
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Healthy Aging Today – Medicare Basics, Baby Boomers

Dennis Stretar (dennis@healthyagingtoday.com, 303.619.7562) in collaboraton with Karin Hall at the SeniorsResourceGuide.com produced videos explaining the basics of the Medicare program. The nine part series was specifically designed for the Baby Boomer Generation who began aging into Medicare this past January, 2011. There is a clear need for accurate information about Medicare options.  Click on www.MedicareBasics2012.com to see the nine part videos. In length, the nine parts total approximately 40 minutes. Given people’s time constraints the videos are easily viewed in 3 to 5 minute segments.  The Medicare Basics video series was reviewed for accuracy and critiqued by Gloria Baca, Dennis Del Pizzo, ...
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CPA Caregiver-Your Money Matters & Grandparents Matter

Metlife Mature Markets recently issued its report on American GrandparentsNew Insights for a New Generation of Grandparents   by Peter Francese   Executive Highlights   Today, the Norman Rockwell image persists of grandparents as aged, whitehaired grandmothers and grandfathers — the ones for whom National Grandparents Day was inaugurated in 1978. The reality is quite something else.   Back in 1980, when that image was closer to reality, there were fewer than 40million mostly quite elderly grandparents in a young nation where half of thepopulation was under 30 years old. Based on data from the U.S. Census Bureau and the ...
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CPA Caregiver – Your Money Matters – Grandparents Matter – read on

Metlife Mature Markets recently released its report entitled: The MetLife Report onAmerican GrandparentsNew Insights for a New Generation of Grandparentsby Peter Francese Executive Highlights Today, the Norman Rockwell image persists of grandparents as aged, whitehairedgrandmothers and grandfathers — the ones for whom NationalGrandparents Day was inaugurated in 1978. The reality is quite something else.Back in 1980, when that image was closer to reality, there were fewer than 40million mostly quite elderly grandparents in a young nation where half of thepopulation was under 30 years old.Based on data from the U.S. Census Bureau and the Bureau of Labor Statistics,by 2010, we ...
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CPA Your Money Matters-Grandparents Matter! the Basics

The MetLife Report on American Grandparents New Insights for a New Generation of Grandparents   by Peter Francese Francese, LLC   Summary Highlights —   Today, the Norman Rockwell image persists of grandparents as aged, whitehaired grandmothers and grandfathers — the ones for whom NationalGrandparents Day was inaugurated in 1978. The reality is quite something else.Back in 1980, when that image was closer to reality, there were fewer than 40million mostly quite elderly grandparents in a young nation where half of thepopulation was under 30 years old. Based on data from the U.S. Census Bureau and the Bureau of Labor ...
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Metlife Mature Market – Your money matters-Grandparents matter!

Metlife Mature Markets recently released their report on The MetLife Report on:American GrandparentsNew Insights for a New Generation of Grandparents by Peter Francese Francese, LLC Executive Highlights Today, the Norman Rockwell image persists of grandparents as aged, whitehairedgrandmothers and grandfathers — the ones for whom NationalGrandparents Day was inaugurated in 1978. The reality is quite something else.Back in 1980, when that image was closer to reality, there were fewer than 40million mostly quite elderly grandparents in a young nation where half of thepopulation was under 30 years old.Based on data from the U.S. Census Bureau and the Bureau of Labor ...
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Your Money Matters_Retirement Plan withdrawals & taxes

CPA services-Your money matters; Retirement money withdrawals & taxes Most of us know  the importance of retirement savings.  Setting aside monies for use in our retirement is basic common sense.  But where many of us need guidance is withdrawing retirement account monies in the most tax efficient manner.    We all anticipate receiving monies from Social Security or government sponsored entitlement program,  but typically these monies will provide 20 to at most 25% of our spending needs in retirement.  You may not know Social Security income is subject to taxation. The amount of social security income subject to tax requires adding ...
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Quality Long Term Care_The National Consumer Voice

Check out this great new tool from The National Consumer Voice for navigating the long-term care system. Last month The National Consumer Voice for Quality Long Term Care released a new guide book to help people with questions about long-term care services navigate the system and better advocate for themselves. The new tool, Piecing Together Quality Long-Term Care: A Consumer’s Guide to Choices and Advocacy, is designed to educate people with disabilities and older adults about their options for long-term services. The guide book fully embraces the philosophy of person-centered or person-directed care, which means you are the one directing ...
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Senior Living – Financial issues – Two State Living

Marla Brill pointed out a number of financial issues for those involved in two state (two country) living between seasons. The link to her article in Yahoo finance is posted herein. Those of you who live a two state lifestyle (“snowbirds” is the classic example) face a number of issues worth reviewing. Health insurance – examine your health care coverage (especially restrictions contained in Medicare Advantage programs, aka Part C Medicare) and determine if your HMO or PPO provides coverage in your second resident state. Medicare supplemental coverage may be less restrictive on coverage. Typically, out of area coverage is a ...
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Taxes and the Health Care Reform

Overview The 2010 Health Care Reform law puts into motion alterations in tax-related issues for businesses and individuals. Employers should prepare their systems well ahead of the dates of the proposed changes. Individuals also need to understand the changes that the health care reform bill brings to their personal taxes. Timeline for Tax Implications Year 2011 Exclude the costs for over-the-counter drugs not prescribed by a physician from being reimbursed through a Health Reimbursement Account (HRA) or a Flexible Spending Account (FSA) and from being reimbursed on a tax-free basis through a Health Savings Account (HSA) or an Archer Medical ...
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