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 ...
Read More

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 ...
Read More

Taxes & Your Money-Caregiver tax deductions

Source for this case summary - The AICPA Journal of AccountancyThe 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 them $49,580 ...
Read More

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, ...
Read More

CPA Caregiver-Your Money Matters & Grandparents Matter

Metlife Mature Markets recently issued its report onAmerican 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 Bureau of Labor Statistics,by 2010, we ...
Read More

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 FranceseExecutive HighlightsToday, 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 estimate that there ...
Read More

CPA Your Money Matters-Grandparents Matter! the Basics

The MetLife Report onAmerican GrandparentsNew 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 Statistics,by 2010, we estimate that there ...
Read More

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, LLCExecutive HighlightsToday, 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, ...
Read More

Your Money Matters_Retirement Plan withdrawals & taxes

CPA services-Your money matters; Retirement money withdrawals & taxesMost 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 one-half ...
Read More

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 or guiding ...
Read More

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 ...
Read More

Taxes and the Health Care Reform

OverviewThe 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 ImplicationsYear 2011Exclude 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 Savings Account (MSA).Increase ...
Read More

My Medicare.gov [Information repository] – Organization Tool for Caregivers

A valuable tool for those assisting elders requiring care is the www.MyMedicare.gov web site. The site helps you organize doctors, medicines, and medical history. We must be sensitive to privacy but having this information in one convenient site enables more efficient care. The website is available 24/7. Also, it is possible to search for various medical and related non-medical service providers. The information requires a user name and password (created at web site account application). A caregiver can identify themselves as a caregiver, thus fully disclosing their relationship to the patient receiving Medicare assistance when applying for a web site ...
Read More

PDP – Medicare Part D Drug plan

******************OPEN ENROLLMENT, MEDICARE PART D Rx Prescription Drug Plans********The open enrollment period for Medicare Part D prescription drug insurance plan coverage begins November 15, 2010 and extends to December 31, 2010. Everyone currently covered by Part D should evaluate their current plan, and decide if another plan is more cost effective. Colorado will have 31 stand alone plans issued by 17 different carriers in 2011. There were 48 plans issued by 20 carriers in 2010.There is assistance available to help with the decision process. Medicare's web site, www.medicare.gov will rank plans by cost once you enter your zip code and ...
Read More

The Conversation — How to initiate the conversation about care

Homewatch Care Caregivers provided the following information from its well written publication - The Guide to Legal and Financial Planning. The Guide contains the following information on Page 13:Initiating the Conversation with Your Aging ParentsFamily dynamics and the ways that family members have always related to eachother can sometimes get in the way of discussing legal and financial issues. Hereare five steps to help:1. Don’t take the person by surprise. Tell him or her that you have somethingimportant you want to talk about and do it in a comfortable, pleasant setting.2. Use a situation you have gone through as a ...
Read More

Health care reform_An explanation

Cokie Roberts outlines the new Health Care Laws ...
Read More

Aging Well – the critical factors

I extracted the following list of critical factors necessary to age "well" from articles by Dr Jeffrey Toth (professor at University of North Carolina-Wilmington), GS Virk (Author), and Chuck Gallozzi (author -- www.personal-development.com/chuck). In some combination, and with weighting according to an individual's inclinations, the following represent critical aging well factors:Service to Others (read Bob Dylan's lyrics from To Serve, we serve someone - it may be the devil or it may be the Lord, but we all serve somebody, yes indeed we all serve somebody.Physical exercise - we all need it, continuous movement for 30 minutes every day.Mental stimulation ...
Read More

A little humor (Senior humor) Enjoy a moment from Home Instead

Watch this little gem from Mary Maxwell, a friend of the Hogan's (founders of Home Instead) ...
Read More

Saging, not Aging by Rabbi Zalman Schachter-Shalomi

Rabbi Zalman Schachter-Shalomi,, professor emeritus of Temple University and founder of the Spiritual Eldering Institute is the author of From Age-ing to Sage-ing' (Warner books, 1995). Rabbi Zalman says,“Every life matters immensely; every well-lived and completed life helps in healing the world.”“Elders are the jewels of humanity that have been mined from the earth, cut in the rough, then buffed and polished by the stonecutter’s art into precious gems that we recognize for their enduring value and beauty. "Rabbi Zalman holds that we all have the potential for fulfilling elder years, but first we may need to free ourselves from ...
Read More

Needing a CPA to assist in Caregiving

Brenda Avadian, noted author (you can retrieve some of her work through Ezines.com) made the following comment in her Blog post on the stages of Caregiving. The stage of hands on the wheel there is no one else should include ...Along the caregiving journey, you may need an elder law attorney to help you set up an estate plan and a durable power of attorney for healthcare, and an accountant or a tax advisor to help you manage your loved one’s finances. You know the accountant to call or email by reading this blog. Also remember CPAs are governed by ...
Read More