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Seniors Feel the Effects of Inflation in Health Care Costs

A recent article on WealthManagement.com has reported that seniors feel the effects of inflation more than the rest of the population.  Research shows that a major reason for this is due to the rising costs of healthcare.  Although over the last three years, the costs of Medicare have tapered off due to the Affordable Care Act, J.P. Morgan Wealth Asset Management expects that Medicare costs will shift toward increasing 6.1% annually over the next twenty years.  This means that a 65 year old paying $4,400 a year now will be spending $17,000 annually at age 85.

Continue reading “Seniors Feel the Effects of Inflation in Health Care Costs”

Nursing Homes Using Guardianship Rights to Collect Debts

The New York Times recently exposed several startling scenarios in which nursing homes have attempted to gain guardianship rights over residents in an effort to collect payment.  According to research done by Hunter College, the practice of nursing homes filing for guardianship of residents is becoming increasingly common.  In the last ten years, out of 700 guardianship cases brought to court in Manhattan alone, 12% were filed by nursing homes.

Continue reading “Nursing Homes Using Guardianship Rights to Collect Debts”

Elderly Misuse of Antipsychotics: A Disturbing National Trend

A recent National Public Radio (NPR) investigation revealed that nearly 20 percent of senior nursing home residents receive some form of antipsychotic medications.

Similar reports, drawing from the NPR investigation, found significantly higher rates of antipsychotic drug usage concentrated in the Western New York area.  In the Rochester region, data revealed that antipsychotic drug usage rates reached up to 30 percent.*

Continue reading “Elderly Misuse of Antipsychotics: A Disturbing National Trend”

Nursing Homes Attempt to Lure in More Medicare Patients to Increase Profit

A recent exposé by the New York Times revealed that as nursing homes revamp their facilities to include luxury living quarters, the disparity between the lavish amenities of short term accommodations, and the quality of care can be drastic.  Although nursing homes are attempting to lure in patients whose short stays will be funded by Medicare dollars, in lieu of Medicaid, many patients are being discharged from the facilities before they have been rehabilitated.  Or worse yet- they leave with more medical issues than they had upon admittance.

Continue reading “Nursing Homes Attempt to Lure in More Medicare Patients to Increase Profit”

Proposed Rules to Retirement Savings Investments Require More Transparency from Brokers

After four years of planning, federal regulators of the U.S. Labor Department proposed rules that would strengthen the protection of those investing their retirement money.  The new rules would require that brokers owe a stronger fiduciary duty to their clients.  Currently, the rules are vague and use ambiguous language, allowing brokers to skirt around the guidelines and in many instances, put their own investment interests first.

Continue reading “Proposed Rules to Retirement Savings Investments Require More Transparency from Brokers”

Proposed Changes to VA Pension Eligibility Rules

The Department of Veterans Affairs has proposed new rules affecting VA pension eligibility that would place restrictions on asset transfers with a penalty period that could last up to a decade; limit home lot sizes to two acres; and cap home health care expenses.  The National Academy of Elder Law Attorneys and veterans advocates believe the enactment of this proposed rule could cause severe harm to veterans in need of long term care, and their families.  The new rules are more restrictive than Medicaid by disallowing the use of trusts and annuities as long term care planning tools.

Continue reading “Proposed Changes to VA Pension Eligibility Rules”

New Bill Proposal Aims to Give More Rights to Tenants

 

A major problem for many buildings in New York City is leaking water which causes plaster to collapse and mold to grow.  Many residents who face this issue are renters and not home owners. As such, these individuals have to wait for their landlords to address the problem while the problem, itself, persists or worsens.

Two years ago, New York City adopted a law that required landlords repair the “underlying conditions” that cause mold to flourish and ceilings to collapse. The problem is that in New York City, which houses nearly 3.5 million apartments, there is only enough resources to target 50 buildings a year for “underlying conditions orders.”

Indeed records show that since the law was passed in 2013, the city has targeted only 69 buildings, including thirty six in Brooklyn, twenty in the Bronx, eight in Manhattan, four in Queens, and one in Staten Island. Continue reading “New Bill Proposal Aims to Give More Rights to Tenants”

Attorney General’s Office Unveils Nursing Home Abuse Cover-Up

According to the New York State Attorney General’s Office, Dawn Weaver, a Licensed Practical Nurse, pleaded guilty to endangering a nursing home resident and falsifying business records.

These charges pertain to an incident on February 23, 2014, when a 93-year-old Wayne County Nursing Home resident fell while being transferred to the bathroom by a nurse aide. The supervising aide, Weaver, failed to follow nursing home protocol when she neglected to have the resident examined by a registered nurse before she was moved. Furthermore, Weaver failed to use a mechanical lift to remove the resident off of the ground, and subsequently failed to report the incident in the facility’s medical records.

Weaver then signed a facility report stating that the aforementioned event did not occur. More disturbingly, Weaver added that had the event occurred, she would have addressed it. However, when questioned by the Attorney General’s Office, Weaver admitted that the resident fell and that she and the aide manually picked up the resident without telling anyone about the fall. Continue reading “Attorney General’s Office Unveils Nursing Home Abuse Cover-Up”

Senior Citizen Rent Increase Exemption Program

New York City rental prices seem to continue to rise without any foreseeable decline.  As a result, reasonably priced housing has become a coveted treasure city-wide.

However, through the Senior Citizen Rent Increase Exemption Program (SCRIE) renters who are 62 or older with yearly incomes below $50,000 may be eligible for exemption from all or some increases in rents, carrying charges, capital assessment or voluntary capital contributions.

Recent changes to the Senior Citizen Rent Increase Exemption (SCRIE) has expanded eligibility by increasing the maximum annual income to $50,000 from $29,000.

Lawmakers speculate that in the next ten years, New York City will see a 30% increase in the senior adult population. They further point out that New York City is home to the highest number of foreign-born senior citizens in the nation. As a result, more low-income seniors are seeking an affordable place to retire. Continue reading “Senior Citizen Rent Increase Exemption Program”

Expert Health Committee Recommends Major Changes to U.S. Health System

End of life care refers to the treatment of patients in the final hours or days of their lives, as well as the health care of all those with a terminal illness or a terminal condition that has become advanced, progressive and incurable.

A national panel recently appointed by the Institute of Medicine, the research branch of the National Academy of Sciences, released a report on September 17, 2014. The report stated that the United States’ system for handling end-of-life care is largely inept, thus necessitating a major makeover.

The report was authored by a 21-member nonpartisan committee comprised of doctors, nurses, insurers, religious leaders, lawyers and experts on aging. It called for major overhauls in the industry, and noted that many of its recommendations could be accomplished without the necessity of the often slow-moving legislative process.

The  507- page report called for a “major reorientation and restructuring of Medicare, Medicaid and other health care delivery programs,” as well as the elimination of financial incentives that are alleged to encourage expensive hospital procedures over low-tech services like home health care and pain management, particularly for sick and elderly patients. Continue reading “Expert Health Committee Recommends Major Changes to U.S. Health System”

Testimonials

“I want to take this time to thank Tanya and Keith for their professionalism and their ability to keep me calm during this process. Tanya was very helpful in explaining the whole guardianship process and my next steps. Despite my numerous emails, I never felt ignored or that they were growing weary of me. Even after being granted guardianship when I had an issue with the bank releasing money Tanya stayed calm and found a way to get what I was entitled to. I hope I never need to do this again but if I do, I will definitely come back to Tanya and her team. Thank you Thank you Thank you. Love from Bermuda.”

-K. Durham.
(An attorney in Bermuda transferring a Bermudian guardianship to NY)

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