European Medicines Agency homes in on drugs for geriatric patients
25 February 2011
Neena Brizmohun
The European Medicines Agency is setting its sights on medicines used by geriatric patient populations. The agency this week published a strategy which aims to ensure that the development and evaluation of such medicines adequately considers the needs of older people.
Sunday, February 27, 2011
Monday, April 19, 2010
HEALTH CARE 55+ CAREERS
SECOND CAREERS 55+
A rare sector that added jobs during the recession, health care dominates the list of hot second careers. Demand remains strong for traditional positions, such as home health aides, nurses and medical assistants. But a changing health care landscape and an aging population are also creating new jobs in support, education and advocacy to patients. Experts say there is already a need for chronic illness coaches, community health workers, patient navigators and home modification specialists
A rare sector that added jobs during the recession, health care dominates the list of hot second careers. Demand remains strong for traditional positions, such as home health aides, nurses and medical assistants. But a changing health care landscape and an aging population are also creating new jobs in support, education and advocacy to patients. Experts say there is already a need for chronic illness coaches, community health workers, patient navigators and home modification specialists
Saturday, March 20, 2010
Notes Workshop 11/10/08 "Village to Village.
Attendees from all parts of nation.
How to create a village
Create four own plan
14 Massachusetts existing plans in
operation with different Business plans and operations geared to Keep people in the home
and supported "neighbor to neighbor"
Presentation on how areas can participate like a unit Westside
village. --Malden Tri City area
MAlden
EVERETT
MEDFORD RIVERS EDGE.
combined MELROSE AND MALDEN
Talk about 400 diverse community membership to make it go
trans portion problems (nation wide)
Neighbors helping neighbors
Subsidized
AVAILABLE IN MALDEN AREA NEED UPDATING
Malden Senior Center medical,shopping,mayors recreation activities (Hallmark Health)
Local Grocery Stores to subsidized Housing units
SCM for out of city locations and
Paul' Place for special activities.
look into a way to extend service and assure more participation.
Stay in Home-Choice is power over own self reliance. Relieve family members from daily
chores to remain independent (one stop service)
Maintain majority of control independence.
Beacon Hill Village and Similar groups have 25% subsidized FOR members. 85% renewal
on all memberships
Give One Stop Shopping for service.
100% satisfaction guaranty.
Malden has many Seniors (10,000) to get involved as well as a new transient
population(new comers) to
apartment condos to get involved.
The idea of the "aging at home" Neighbor to Neighbor concept is to make Seniors (elderly)
feel like owners not clients
450,000 cost 1000 per member
Reflect your community Sense of Age
We ARE not a "bingo game" individualists to make it go.
Get a business plan
Well Known members of the community.
Those with visibility to attract attention and need of program.
time needed to give needed attention.
City of Malden Groups involved
MALDEN REDEVELOPMENT AUTHORITY
cITY PLANNER WITH THE VISION FOR MALDEN PROGRAM 0UTREACH
DIRECTOR OF MALDEN HOUSING
DIRECTOR OF ELDERLY AFFAIRS
MALDEN CHAMBER OF COMMERCE
OUR CITY COUNCIL WARD REPRESENT IVES
TO GET SENIORS IN THEIR NEIGHBORHOOD INTERESTED AND INVOLVED.
OUR AT LARGE TO PROMOTE OUR PROGRAM WITH CITY BUSINESSES OUTREACH TO
WHOLE COMMUNITY
YMCA PROGRAM FOR ELDERLY IN SUBSIDIZED HOUSING.
GET A BANK SPONSOR
--
Howard McGowan
MaldenSenior
How to create a village
Create four own plan
14 Massachusetts existing plans in
operation with different Business plans and operations geared to Keep people in the home
and supported "neighbor to neighbor"
Presentation on how areas can participate like a unit Westside
village. --Malden Tri City area
MAlden
EVERETT
MEDFORD RIVERS EDGE.
combined MELROSE AND MALDEN
Talk about 400 diverse community membership to make it go
trans portion problems (nation wide)
Neighbors helping neighbors
Subsidized
AVAILABLE IN MALDEN AREA NEED UPDATING
Malden Senior Center medical,shopping,mayors recreation activities (Hallmark Health)
Local Grocery Stores to subsidized Housing units
SCM for out of city locations and
Paul' Place for special activities.
look into a way to extend service and assure more participation.
Stay in Home-Choice is power over own self reliance. Relieve family members from daily
chores to remain independent (one stop service)
Maintain majority of control independence.
Beacon Hill Village and Similar groups have 25% subsidized FOR members. 85% renewal
on all memberships
Give One Stop Shopping for service.
100% satisfaction guaranty.
Malden has many Seniors (10,000) to get involved as well as a new transient
population(new comers) to
apartment condos to get involved.
The idea of the "aging at home" Neighbor to Neighbor concept is to make Seniors (elderly)
feel like owners not clients
450,000 cost 1000 per member
Reflect your community Sense of Age
We ARE not a "bingo game" individualists to make it go.
Get a business plan
Well Known members of the community.
Those with visibility to attract attention and need of program.
time needed to give needed attention.
City of Malden Groups involved
MALDEN REDEVELOPMENT AUTHORITY
cITY PLANNER WITH THE VISION FOR MALDEN PROGRAM 0UTREACH
DIRECTOR OF MALDEN HOUSING
DIRECTOR OF ELDERLY AFFAIRS
MALDEN CHAMBER OF COMMERCE
OUR CITY COUNCIL WARD REPRESENT IVES
TO GET SENIORS IN THEIR NEIGHBORHOOD INTERESTED AND INVOLVED.
OUR AT LARGE TO PROMOTE OUR PROGRAM WITH CITY BUSINESSES OUTREACH TO
WHOLE COMMUNITY
YMCA PROGRAM FOR ELDERLY IN SUBSIDIZED HOUSING.
GET A BANK SPONSOR
--
Howard McGowan
MaldenSenior
Thursday, March 4, 2010
How to create a village
Create four own plan
14 Massachusetts existing plans in
operation with different Business plans and operations geared to Keep people in the home
and supported "neighbor to neighbor"
Presentation on how areas can participate like a unit Westside
village. --Malden Tri City area
MAlden
EVERETT
MEDFORD RIVERS EDGE.
combined MELROSE AND MALDEN
Talk about 400 diverse community membership to make it go
trans portion problems (nation wide)
Neighbors helping neighbors
Subsidized
AVAILABLE IN MALDEN AREA NEED UPDATING
Malden Senior Center medical,shopping,mayors recreation activities (Hallmark Health)
Local Grocery Stores to subsidized Housing units
SCM for out of city locations and
Paul' Place for special activities.
look into a way to extend service and assure more participation.
Stay in Home-Choice is power over own self reliance. Relieve family members from daily
chores to remain independent (one stop service)
Maintain majority of control independence.
Beacon Hill Village and Similar groups have 25% subsidized FOR members. 85% renewal
on all memberships
Give One Stop Shopping for service.
100% satisfaction guaranty.
Malden has many Seniors (10,000) to get involved as well as a new transient
population(new comers) to
apartment condos to get involved.
The idea of the "aging at home" Neighbor to Neighbor concept is to make Seniors (elderly)
feel like owners not clients
450,000 cost 1000 per member
Reflect your community Sense of Age
We ARE not a "bingo game" individualists to make it go.
Get a business plan
Well Known members of the community.
Those with visibility to attract attention and need of program.
time needed to give needed attention.
City of Malden Groups involved
MALDEN REDEVELOPMENT AUTHORITY
CITY PLANNER WITH THE VISION FOR MALDEN PROGRAM 0UTREACH
DIRECTOR OF MALDEN HOUSING
DIRECTOR OF ELDERLY AFFAIRS
MALDEN CHAMBER OF COMMERCE
OUR CITY COUNCIL WARD REPRESENT IVES
TO GET SENIORS IN THEIR NEIGHBORHOOD INTERESTED AND INVOLVED.
OUR AT LARGE TO PROMOTE OUR PROGRAM WITH CITY BUSINESSES OUTREACH TO
WHOLE COMMUNITY
YMCA PROGRAM FOR ELDERLY IN SUBSIDIZED HOUSING.
GET A BANK SPONSOR
--
Howard McGowan
MaldenSenior
14 Massachusetts existing plans in
operation with different Business plans and operations geared to Keep people in the home
and supported "neighbor to neighbor"
Presentation on how areas can participate like a unit Westside
village. --Malden Tri City area
MAlden
EVERETT
MEDFORD RIVERS EDGE.
combined MELROSE AND MALDEN
Talk about 400 diverse community membership to make it go
trans portion problems (nation wide)
Neighbors helping neighbors
Subsidized
AVAILABLE IN MALDEN AREA NEED UPDATING
Malden Senior Center medical,shopping,mayors recreation activities (Hallmark Health)
Local Grocery Stores to subsidized Housing units
SCM for out of city locations and
Paul' Place for special activities.
look into a way to extend service and assure more participation.
Stay in Home-Choice is power over own self reliance. Relieve family members from daily
chores to remain independent (one stop service)
Maintain majority of control independence.
Beacon Hill Village and Similar groups have 25% subsidized FOR members. 85% renewal
on all memberships
Give One Stop Shopping for service.
100% satisfaction guaranty.
Malden has many Seniors (10,000) to get involved as well as a new transient
population(new comers) to
apartment condos to get involved.
The idea of the "aging at home" Neighbor to Neighbor concept is to make Seniors (elderly)
feel like owners not clients
450,000 cost 1000 per member
Reflect your community Sense of Age
We ARE not a "bingo game" individualists to make it go.
Get a business plan
Well Known members of the community.
Those with visibility to attract attention and need of program.
time needed to give needed attention.
City of Malden Groups involved
MALDEN REDEVELOPMENT AUTHORITY
CITY PLANNER WITH THE VISION FOR MALDEN PROGRAM 0UTREACH
DIRECTOR OF MALDEN HOUSING
DIRECTOR OF ELDERLY AFFAIRS
MALDEN CHAMBER OF COMMERCE
OUR CITY COUNCIL WARD REPRESENT IVES
TO GET SENIORS IN THEIR NEIGHBORHOOD INTERESTED AND INVOLVED.
OUR AT LARGE TO PROMOTE OUR PROGRAM WITH CITY BUSINESSES OUTREACH TO
WHOLE COMMUNITY
YMCA PROGRAM FOR ELDERLY IN SUBSIDIZED HOUSING.
GET A BANK SPONSOR
--
Howard McGowan
MaldenSenior
Monday, March 23, 2009
Home Care in Medicare
We at Mass Senior Action have been advocating for Home Care VS nursing home care.
We have pointed out the reasons and the disparity in costs with the gap between costs of Nursing homes with keeping the Seniors in the home care system
We now are deeply disturbed to find that the Home Care Industry now seems to be taking advantage of the fact that this differece in cost is a fact and are taking undue advantage by making unreasable increases in the overburdened health care costs
without regard for the clients services.
This was pointed out in the following article in the New York Times Editorial
We must take action here in Massachusetts to protect those in Medicare from
being taken advantage of by the faulty system. Our Seniors are more vulnerable after hospitalization or when needing home care to avoid hospitalization under the presents action of the Home care Industry.
We have made our wants known to the Governor and the Massachsetts State Legislators
with a rally at the State House now lets follow through.
We look for adaguate funding but we should also urge our representatives to look to accountability.
Lets get our membership and the General public to express an opinion on this issue
March 23, 2009
Editorial
Costly Home Health Care
Health care reformers have long advocated providing more care to patients in their own homes or communities instead of treating them in costly institutions like hospitals and nursing homes. So it is disturbing to learn that charges have risen well above reasonable levels in one segment of the home health care market — short-term care provided to Medicare beneficiaries after, or sometimes instead of, hospitalization. The problem is compounded by fraud.
In its annual report to Congress this month, the Medicare Payment Advisory Commission, a group of independent experts, concluded that home health agencies have been paid significantly more than their cost of providing the services in recent years. Their average margins were about 16.5 percent a year between 2002 and 2007, and, even after some rate adjustments, are expected to exceed 12 percent this year in the midst of a recession. Experts say there is room to reduce payments substantially without harming the provision of such services as skilled nursing care, physical or occupational therapy, speech therapy and medical social work.
The overpayment problem is exacerbated by fraud and manipulation, according to a report issued recently by the Government Accountability Office. The G.A.O. looked at seven states that experienced the highest growth rate in Medicare home health expenditures from 2002 through 2006 and found a substantial number of abuses. These included overstating a beneficiary’s condition to get an improperly high reimbursement, billing for patients who were not homebound and thus not eligible for home health care, and making unnecessary visits.
Some of the worst abuses were in Texas and Florida, where spending growth was highest. In Houston, more than 90 percent of the beneficiaries reviewed in one audit had improperly been given the most severe clinical rating. In Miami-Dade County, a disproportionately high number of diabetics were getting skilled nursing visits every day to administer their insulin shots despite lack of evidence that they needed any help; some were coached on how to lie about their need for assistance.
Federal officials are taking steps to reduce fraud, and Congress is pushing them to do more. The bigger cost issue — paying too much across the board for home health services to Medicare beneficiaries — would largely be solved by President Obama’s budget proposals. His budget plan calls for saving a hefty $37 billion over the next decade by reducing Medicare’s projected home health care expenditures in order to help finance his broader health care reforms.
Home health care companies are already complaining that the cuts will hurt patients, but their industry is one of the most profitable parts of Medicare; it needs to do its fair share to curb the relentless surge in Medicare spending. If the nation’s health system is to move toward greater reliance on home care, it needs to be sure it is paying the right price.
Howard McGowan
349 Pleasant Street
Malden, Ma 02148
781 324 8076
We have pointed out the reasons and the disparity in costs with the gap between costs of Nursing homes with keeping the Seniors in the home care system
We now are deeply disturbed to find that the Home Care Industry now seems to be taking advantage of the fact that this differece in cost is a fact and are taking undue advantage by making unreasable increases in the overburdened health care costs
without regard for the clients services.
This was pointed out in the following article in the New York Times Editorial
We must take action here in Massachusetts to protect those in Medicare from
being taken advantage of by the faulty system. Our Seniors are more vulnerable after hospitalization or when needing home care to avoid hospitalization under the presents action of the Home care Industry.
We have made our wants known to the Governor and the Massachsetts State Legislators
with a rally at the State House now lets follow through.
We look for adaguate funding but we should also urge our representatives to look to accountability.
Lets get our membership and the General public to express an opinion on this issue
March 23, 2009
Editorial
Costly Home Health Care
Health care reformers have long advocated providing more care to patients in their own homes or communities instead of treating them in costly institutions like hospitals and nursing homes. So it is disturbing to learn that charges have risen well above reasonable levels in one segment of the home health care market — short-term care provided to Medicare beneficiaries after, or sometimes instead of, hospitalization. The problem is compounded by fraud.
In its annual report to Congress this month, the Medicare Payment Advisory Commission, a group of independent experts, concluded that home health agencies have been paid significantly more than their cost of providing the services in recent years. Their average margins were about 16.5 percent a year between 2002 and 2007, and, even after some rate adjustments, are expected to exceed 12 percent this year in the midst of a recession. Experts say there is room to reduce payments substantially without harming the provision of such services as skilled nursing care, physical or occupational therapy, speech therapy and medical social work.
The overpayment problem is exacerbated by fraud and manipulation, according to a report issued recently by the Government Accountability Office. The G.A.O. looked at seven states that experienced the highest growth rate in Medicare home health expenditures from 2002 through 2006 and found a substantial number of abuses. These included overstating a beneficiary’s condition to get an improperly high reimbursement, billing for patients who were not homebound and thus not eligible for home health care, and making unnecessary visits.
Some of the worst abuses were in Texas and Florida, where spending growth was highest. In Houston, more than 90 percent of the beneficiaries reviewed in one audit had improperly been given the most severe clinical rating. In Miami-Dade County, a disproportionately high number of diabetics were getting skilled nursing visits every day to administer their insulin shots despite lack of evidence that they needed any help; some were coached on how to lie about their need for assistance.
Federal officials are taking steps to reduce fraud, and Congress is pushing them to do more. The bigger cost issue — paying too much across the board for home health services to Medicare beneficiaries — would largely be solved by President Obama’s budget proposals. His budget plan calls for saving a hefty $37 billion over the next decade by reducing Medicare’s projected home health care expenditures in order to help finance his broader health care reforms.
Home health care companies are already complaining that the cuts will hurt patients, but their industry is one of the most profitable parts of Medicare; it needs to do its fair share to curb the relentless surge in Medicare spending. If the nation’s health system is to move toward greater reliance on home care, it needs to be sure it is paying the right price.
Howard McGowan
349 Pleasant Street
Malden, Ma 02148
781 324 8076
Friday, January 16, 2009
Housing Crisis Affects Seniors needing care
An interesting article to give insight of why Aging in Place and remaining in your own neighborhood is vital to the health and well being of most Seniors
16 Jan 2009
The national real estate crisis has affected all aspects of life, and long term care is no exception. For many seniors unable to sell their homes, moving to an assisted living facility is no longer financially possible. For this reason, the option of aging-in-place with retrofits is growing in popularity along with utilizing home care assistance. By using caregivers and modifying homes to be friendlier to the aging process, many seniors will be able to remain in their homes for as long as possible - which, according to an AARP housing research report, is exactly what 83 percent of older Americans would choose to do when given a choice.
Always There Resources knows there's no place like home and would like to educate the local community about how aging in place with home care can be a viable option. About.com Senior Health reports that seniors who go to nursing homes or other assisted type facilities are usually not in need of complex medical care, but rather are having difficulty taking care of their personal needs. Additionally, when faced with making a choice for care, oftentimes home care can be more affordable than moving to a care facility.
Staying in their own homes as long as is possible can mean a great deal to many seniors. Familiar surroundings can be therapeutic. When faced with recuperative needs and considering in-home services, here are some important factors to consider:
-- Culture of the care recipient
-- Current financial situation of the care recipient
-- Formal/informal support system of the care recipient
-- Current level of care required; future level of care prognosis
-- Mental status of the care recipient
-- Ability to get up and down out of a chair or a bed
Because it is not always clear to the average person whether an ailing senior can use care at home or when it is more appropriate to move elsewhere, it is usually best to consult a professional for advice. Understand that making a decision to move into a facility and sell a home is an unalterable decision, once completed. Prior to making any formal recommendation for long term care that involves a move away from home, available home care options should be fully explored.
Look at Activities of Daily Living needs when choosing care. Activities of Daily Living (ADLs) are simply activities in which people engage on a day-to-day basis. These activities are fundamental to caring for oneself and maintaining independence. Why is it important to be aware of a person's limitations with Activities of Daily Living when choosing care?
-- Determining the type of ADL care that is needed enables a clear idea of whether or not staying at home with care is an option.
-- Recognizing a person's limitations is the first step in developing a care plan to provide the appropriate type and level of assistance.
-- Admission policies for adult day services, care communities and institutions often reflect on ADLs to determine eligibility for care and placement for a certain type of care.
-- Long-term care insurance policies/programs often rely on ADL measures (the inability to perform a certain number of ADLs) to determine whether or not an individual qualifies for benefits.
In addition to long-term care insurance, there are many ways to pay for in-home care, including private funds, family funds, Veteran's benefits, worker's compensation, Medicaid waivers, and grants from some charitable organizations or religious organizations. Generally, it is less expensive to stay at home with 8 hours of care or less per day than it is to move to another location.
When grappling with long-term care decisions, the National Institute on Aging recommends checking with your insurance provider - there is a chance that paying just a few services out of pocket could cost less in the long run than moving into an independent living, assisted living or long-term care facility.
Navigating long-term care in today's economic climate can be a stressful ride, but there are many resources available to aid in the decision. It is a good idea to talk with friends, neighbors and trusted advisors or professionals to learn more about the in-home care options available. For more information about in-home care services in our local community, please contact Always There Resources.
About Always There Resources, Inc.
Always There Resources is committed to helping seniors live better at home. We believe that each and every senior deserves the best quality of life possible. A team approach is the only way this can be accomplished that is why each family works closely with a professional care manager who uses their expertise to ensure the senior's needs are being met. Services include: Philips Lifeline medical alarms, medication dispensing equipment, live-in care, and hourly homemaker and transportations services. Please visit http://www.alwaysthere.com.
Always There Resources, Inc.
http://www.alwaysthere.com
--------------------------------------------------------------------------------
Article URL: http://www.medicalnewstoday.com/articles/135644.php
Main News Category: Seniors / Aging
--------------------------------------------------------------------------------
Save time! Get the latest medical news headlines for your specialist area, in a weekly newsletter e-mail. See http://www.medicalnewstoday.com/newsletters.php for details.
Send your press releases to pressrelease@medicalnewstoday.com
Thursday, January 1, 2009
What do I need to know to best manage the cost of care
What do I need to know to best manage the cost of care?
Jon Beyrer
Jon Beyrer, CFP, EACaring for a loved one requires time and energy. It also may require medical expertise and the use of medical treatments, facilities or equipment. If the time, energy, and medical necessities of care make doing it yourself difficult or impossible, you will need to get help- and help in this area can be expensive.
Of course, most state and local governments offer programs to help people of limited means get care, but these really should be a last resort. They typically provide a basic level of care. Having the financial resources to pay for care options can make a huge difference in the quality of your loved one’s care.
The first and most important step is to know what resources are available to you. These may include insurance, savings and investments, income sources such as pension benefits or social security, and assets such as a home. Each of these offers advantages and disadvantages for paying for care, and may involve special considerations that you as the caregiver need to consider to make the best use of the available resources.
Insurance is the first resource to consider, and the one that may have the greatest effect on what your options are. Most elderly people in the U.S. are covered by Medicare, the government-run healthcare insurance program. Medicare pays for hospital stays and other medical treatments to a point, and after that you may be on the hook for additional treatments, drugs, or care options. Many retirees have supplemental health care insurance, sometimes referred to as Medi-gap insurance. This private insurance helps pay for costs that Medicare does not cover.
However, Medicare and Medi-gap insurance do not cover the costs of long-term nursing care, home health care, or assisted living care. Medicaid does cover these costs, but only for people with very little assets or income. Private long-term care insurance policies are designed to reimburse costs of long-term care, but these typically do not cover all of the costs, especially for home-care or assisted living care. In addition, long-term care insurance often has restrictions on the type of facility or care it will cover. Insurance coverage, with its requirements, qualifications, and limitations, may drive all the other financial decisions. Knowing what insurance your loved one has, how it works, and what its limitations are is often the most important financial aspect of caring for your loved one.
Income your relative is receiving from pensions or social security is the next resource to consider, followed by savings and investments. In maintaining your relative’s investment portfolio and tapping it as a resource, you may want to consult with a financial advisor and a tax advisor. These professionals can help you navigate the issues of managing and liquidating investments.
Checklist for managing financial resources:
Know your relative’s entire financial picture: assets, liabilities, income and expenses, and cash flow.
Can you meet their necessary expenses with the income they are receiving, or do assets need to be liquidated? What are the tax, legal, and financial aspects of maintaining and liquidating your relative’s assets?
Be familiar with the terms and restrictions of any insurance policies.
Know alternatives you have to pay for their care needs. For example, are there services and programs are available to help meet their needs?
--------------------------------------------------------------------------------
Jon Beyrer
Jon Beyrer, CFP, EACaring for a loved one requires time and energy. It also may require medical expertise and the use of medical treatments, facilities or equipment. If the time, energy, and medical necessities of care make doing it yourself difficult or impossible, you will need to get help- and help in this area can be expensive.
Of course, most state and local governments offer programs to help people of limited means get care, but these really should be a last resort. They typically provide a basic level of care. Having the financial resources to pay for care options can make a huge difference in the quality of your loved one’s care.
The first and most important step is to know what resources are available to you. These may include insurance, savings and investments, income sources such as pension benefits or social security, and assets such as a home. Each of these offers advantages and disadvantages for paying for care, and may involve special considerations that you as the caregiver need to consider to make the best use of the available resources.
Insurance is the first resource to consider, and the one that may have the greatest effect on what your options are. Most elderly people in the U.S. are covered by Medicare, the government-run healthcare insurance program. Medicare pays for hospital stays and other medical treatments to a point, and after that you may be on the hook for additional treatments, drugs, or care options. Many retirees have supplemental health care insurance, sometimes referred to as Medi-gap insurance. This private insurance helps pay for costs that Medicare does not cover.
However, Medicare and Medi-gap insurance do not cover the costs of long-term nursing care, home health care, or assisted living care. Medicaid does cover these costs, but only for people with very little assets or income. Private long-term care insurance policies are designed to reimburse costs of long-term care, but these typically do not cover all of the costs, especially for home-care or assisted living care. In addition, long-term care insurance often has restrictions on the type of facility or care it will cover. Insurance coverage, with its requirements, qualifications, and limitations, may drive all the other financial decisions. Knowing what insurance your loved one has, how it works, and what its limitations are is often the most important financial aspect of caring for your loved one.
Income your relative is receiving from pensions or social security is the next resource to consider, followed by savings and investments. In maintaining your relative’s investment portfolio and tapping it as a resource, you may want to consult with a financial advisor and a tax advisor. These professionals can help you navigate the issues of managing and liquidating investments.
Checklist for managing financial resources:
Know your relative’s entire financial picture: assets, liabilities, income and expenses, and cash flow.
Can you meet their necessary expenses with the income they are receiving, or do assets need to be liquidated? What are the tax, legal, and financial aspects of maintaining and liquidating your relative’s assets?
Be familiar with the terms and restrictions of any insurance policies.
Know alternatives you have to pay for their care needs. For example, are there services and programs are available to help meet their needs?
--------------------------------------------------------------------------------
Subscribe to:
Comments (Atom)
