Raimondo Rolls out Educational Initiative to Financially Empower Rhode Islanders

Published in the Pawtucket Times, August 2, 2013

Everybody has been hit hard over the years with the economic downturn in the Ocean State. The statistics are startling about the impact on Rhode Islander’s pocketbooks. According to the Office of the General Treasurer, two-thirds of Rhode Islanders reported some difficulty in covering their expenses and paying bills. Startling the average borrow in our state has $13,221 in credit card debt, the 5th highest amount in the nation. Almost 47% of the Ocean State’s homeowners are “cost burdened,” that is home ownership costs more than 30 percent of their income.

During her first term, overcoming strong opposition of union groups, Rhode Island General Treasurer Gina M. Raimondo, working with Governor Chafee and leadership in the General Assembly, successfully redesigned Rhode Island’s state-administered public employee pension system. Now the Smithfield native, and mother of two, who graduated from LaSalle Academy, Harvard University and Yale Law School, who became a Rhode Scholar at Oxford University, goes into full gear to financially empower the state’s residents to make informed disciplined choices to achieve their financial goals.

Raimondo’s interest in financial empowerment came from her memories of growing up in a modest-income family, and a house with three kids and her grandfather. “My family had to become very smart about saving and budgeting,” she noted. By financial juggling and hard work, she was able along with her two siblings to attend college. According to Raimndo, getting a good college education allowed her to climb up the career ladder and eventually run for General Treasurer.

Building a Prosperous Financial Future

Recognizing that everyone could use a little free help understanding and managing their finances, last October, Raimondo, in partnership with the Providence-based Capital Good Fund, kicked off their financial empowerment initiative to provide guidance, though the Rhode Island Financial Coaching Corps, to provide free financial help to Rhode Islanders balance their home budgets, managing debt, building up credit and plan for their retirement.

According to Raimondo, becoming financially secure and taking care of your family can become tricky with the huge number of financial products available today. One can become confused with the different types of mortgage and banking products available, especially the proliferation of pay day loans, credit cards and reverse mortgages, she says. “If people are not careful they can be hit hard by hidden fees or hidden risks by choosing the wrong product,” she says.

Recently, Raimondo took her Smart Money Tour out on the road visiting local libraries, farmers markets and senior centers, “right into the community,” she says, noting that it might become a permanent initiative if it proves to be successful. At these locations treasury staff, through an online computer data base, (treasury.ri.gov/unclaimed) also helps people locate their lost or abandoned property for free. Unclaimed property includes items such as long forgotten bank accounts, stocks and dividends and life insurance claims. During the last fiscal year, Treasury returned more than $8 million to over 8,000 Rhode Islanders.

Supporting Common Goals

According to Executive Director Andy Posner, of the Providence-based Capital Good Fund, he met Raimondo during her campaign for Treasurer and found a kindred soul. She had similar interests in bringing financial literacy to Rhode Islanders and a desire to fight predatory practices (pay day loans that have interest rates of 260 percent and rent-to-own centers where consumers ultimately pay more than the product is worth).

Capital Good Fund trains volunteers, for the Empower RI initiative, in financial coaching techniques and provides them with curricula to use either in one-to-one sessions with employees at companies who contract for the service or to those interested in getting help, learning about this assistance at community events or through newspaper coverage or social service agencies.

Since the inception of the program over 200 Rhode Islanders have been helped, says Posner. Currently, the Financial Service Corps, has 17 active volunteers, he added.

Joining the Financial Coaching Corps

Jerry Leveille, a Burrillville resident, jumped at being a volunteer with the Financial Coaching Corps after reading the mission of Empower RI, “Moving Rhode Island forward – one person at a time – through financial empowerment.” The 68-year old retired banker, who served as a senior vice president and lending officer, had worked for over 51 years at Warwick-based Greenwood Credit Union.

Filling out the application at the Capital Good Fund, he was accepted, trained and now has worked with two clients.

In one case, Leveille stated that 83-year-old widow learned the art of balancing her checkbook after the death of her husband, who had managed the family’s household account, paying the bills for over 58 years. The woman still coping with the recent death of her husband only needed a couple of sessions to learn this financial skill.

Meanwhile, Leveille says that a 62-year old woman who worked for a large Rhode Island company for over 30 years made a personal decision to retire. She would later learn that this financial decision would reduce her income by a whopping 40 percent. This was combined with mortgage problems. The single older woman owed more on her family homestead than its market value. She could not get her out of state mortgage company to lower the eight percent interest rate or allow her to extend payments.

Before coming to Leveille “her only choice was to walk away from the mortgage or continue to work,” he said, noting that if this occurred the lender would most likely suffer a $60,000 loss. “As a volunteer I was not going to talk her out of retirement, it was not my role to do this. Ultimately, the Financial Coaching Corps. volunteer would refer his client to Rhode Island Housing who is in the process of negotiating a lower interest rate on her behalf.

“We must be very nonjudgmental when we work with our clients,” says Leveille, noting that humans do make mistakes they regret when making bad financial decisions. “We are there to be helpful. It is what it is and we try to find the appropriate solution,” he says when counseling client.

Cumberland resident, Randy Sacilotto, who serves as Navigant’s vice president of business and community development, joined Raimondo’s effort to ratchet up the state’s financial literacy knowledge. Sacilotto, with 21 years working for the credit union, also brings to his clients the expertise he gained from training to become a certified financial counselor, accredited by the National Credit Union Foundation.

Sacilotto, 52, has met with two individuals and one couple, teaching them how a household budget works and another couple on tips on refinancing their home.

Working on budgeting, Sacilotto told his clients to track the spending of “every penny,” for two to four weeks. Write everything down, he says, because you will learn where your money is spent.

“We don’t always actually know what we spend on things,” he says, and if you track your results, cutting spending on things you don’t need can allow you to put your money into more important things, like saving for a house,” notes Sacilotto.

Finding Satisfaction in Financial Problem Solving

Emerson Gardner, a retired manager of the New York-based Bank of America’s International Banking Office, brought this experience and working in the City’s AARP Money Management Program, to the Ocean State in 2010. Two years later he would join Raimondo’s Financial Coaching Corps.

One of the original volunteers, Gardner is already working on his fifth client (their ages range from early 30s to their 50s). “Any time you help a person get their credit rating up or confront their debt problems it begins with creating a budget,” he says, noting that people need to learn how to live within their incomes.

While Gardner’s clients profit from his expertise gleaned from his banking days and a Masters of Business Administration received from Harvard University, he benefits, too. “I get satisfaction in helping clients solve their problems.” The retiree likes the flexibility of the program, allowing him to decide who to take and when to schedule the counseling session.

“For a person who has financial skills and the time to give because they are retiring, it is a great thing to do,” quips Gardner.

Those interested in volunteering for the Financial Coaching Corps, or meeting with a financial coach should visit http://www.fcCorpss.org.

Pawtucket’s Smart Money Tour is scheduled for August 30, 2013, from 1:00 p.m. to 2:00 p.m. at the City’s Leon Mathieu Senior Center, 420 Main Street, Pawtucket RI.

Herb Weiss, LRI ’12, is a Pawtucket-based write who covers health care, aging and medical issues. He can be reached at hweissri@aol.com

National Report Grapples with Impending Alzheimer’s Epidemic

Published in the Pawtucket Times, July 25, 2013

.This 56 page report must not sit on a bureaucrat’s dusty shelf.

With the graying of the nation’s population and a skyrocketing incident rate of persons afflicted with Alzheimer’s disease, the Chicago-based Alzheimer’s Association and the U.S. Centers for Disease Control (CDC) and Prevention release a report last week to address a major public health issue, an impending Alzheimer’s disease epidemic on the horizon.

Researchers say that in 2013, an estimated 5 million Americans age 65 and older have Alzheimer’s disease. Unless more effective ways are identified and implemented to prevent or treat this devastating cognitive disorder the prevalence may triple, skyrocketing to almost 14 million people. Simply put, Alzheimer’s disease is now the 6^th leading cause of death and 5^th among those 65 to 85 years of age.

A Call to Arms

A July 15, 2013, CDC, the federal agency charged with protecting public health and safety through the control and prevention of disease, injury, and disability, and the Alzheimer’s Association, the world’s leading voluntary health organization in Alzheimer’s care, support and research, unveiled The Healthy Brain Initiative: The Public Health Road Map for State and National Partnerships, 2013-2018 at the 2013 Alzheimer’s Association International Conference in Boston.

The released report calls for public health officials to quickly act to stem the growing Alzheimer’s crisis and is a follow-up to the 2007 The Healthy Brain Initiative: a National Public Health Road Map to Maintaining Cognitive Health.

“The public health community is now paying greater attention to the Alzheimer’s epidemic that millions of families have been facing for decades and that is poised to drastically increase,” said Robert Egged, Vice President of Public Policy at the Alzheimer’s Association. “On the heels of the 2012 release of the country’s first-ever National Alzheimer’s Plan, the Alzheimer’s Association and CDC have partnered again to create a tool for public health officials to improve the quality of life for those families and advance cognitive health as a integral component of public health,” says Egged.

Released five years ago, the original Road Map addressed cognitive health and functioning from a public health perspective and provided a framework for the public health community to engage cognitive health, cognitive impairment, and Alzheimer’s disease and other dementias. More than 280 experts in the field contributed to this new Road Map report that outlines specific actions steps that state and local public health officials can take to promote cognitive functioning, address cognitive impairment for individuals living in the community and help meet the needs of caregivers.

While federal agencies play a critical role in leading and funding efforts to address Alzheimer’s disease, state and local health departments organize and provide public health services at the community level.

“The goal of the Healthy Brain Initiative is to enhance understanding of the public health burden of cognitive impairment, help build evidence-based communications and programs, and translate that foundation into effective public health practices in states and communities. This Road Map provides guidance to states, communities, and national partners to plan for and respond to this major public health issue,” said Lynda Anderson, PhD, Director of the Healthy Aging Program at CDC.

A former Assistant Secretary at the U.S. Administration on Aging, Bill Benson, now a managing partner of Silver Spring, Maryland-based, Health Benefits ABC, notes that the cost of providing care to people with Alzheimer’s disease will have a drastic impact on the nation’s economy due to the cost of lost productivity, and the care costs for those no longer able to care from themselves. “This does not include the profound personal impact and consequences to those who suffer from Alzheimer’s and to their loved ones,” he says.

“The scope, cost and the extraordinary burden both to individuals and to society make it a true health crisis,” says Benson, stressing that public health officials need to know more about the disease and those who have it, better ways to diagnosis it. There must also be a better understanding of the economic impact and programs and services that are proven to ease the burden of those who suffer from it and their caregivers, he adds.

Action Steps for Local Communities to Follow

The Road Map report includes more than 30 action steps that the public health community can take at the federal, state and local levels over the next five years to address cognitive health and cognitive impairment from a public health perspective. The actions are intended as a guide for what state and local public health officials could do – on their own or with other national, state and local partners. Agencies are encouraged to select those actions that best fit state and local needs and customize them to match priorities, capabilities and resources.

As to specifics, the Road Map report calls for improved monitoring and evaluation of persons with dementia including Alzheimer’s disease and younger onset as they relate to employment and employers, and defining the needs of these individuals and their caregivers. Also, increased support should be given to state and local needs assessments to identify racial/ethnic; lesbian, gay, bisexual, and transgender; socioeconomic; and geographic disparities related to cognitive health and impairment.

Public health officials must educate and empower the nation in confronting the epidemic of Alzheimer’s disease by promoting advance care planning and financial planning to care partners, families, and individuals with dementia in the early stages before function declines. They can and promote early diagnosis.

The Road Map report urges that sound public health policies be developed and partnerships created to collaborate in the development, implementation, and maintenance of state Alzheimer’s disease plans. It also recommends that state and local government integrate cognitive health and impairment into state and local government plans (e.g. aging, coordinated chronic disease, preparedness, falls, and transportation plans).

Finally, the Road Map report also recommends that strategies be developed to help ensure that state public health departments have expertise in cognitive health and impairment related to research and best practices. Support must also be provided to continuing education efforts that improve healthcare providers’ ability to recognize early signs of dementia, including Alzheimer’s disease, and to offer counseling to individuals and their care partners.

A Local View

Maureen Maigret, policy consultant for the Senior Agenda Coalition of RI coordinator of the Rhode Island Older Women’s Policy Group, agrees with the assessment of theRoad Map report, especially with the Ocean State having the “highest percent of persons age 85 and over in the 2010 Census and this is the population that is growing fast and most likely to have dementia.”

Maigret notes the economic impact will have significant impact across our economy for the state budget and for individual families. “It is imperative for our public officials to promote programs to identify those with early cognitive problems and implement policies to strengthen community and caregiver supports that will help persons to safely remain in home and community settings as long as possible, she says.

The Rhode Island General Assembly passed legislation this year that requires caregiver assessments in the state Medicaid long term care system. “It’s a good first step in helping caregivers. But we must do so much more to inform the public about available resources, to adequately fund assistance programs such as RIde, Meals on Wheels and respite services and to promote cognitive screening as part of annual wellness visits funded by Medicare,” she says.

“Having a clear active mind at any age is important but as we get older it can mean the difference between dependence and independent living,” says Executive Director, Donna McGowan, of the Alzheimer’s Association-Rhode Island Chapter. “We are excited that the CDC has partnered again with the Alzheimer’s Association to create a tool for public health officials to improve the quality of life for those families afflicted by the disease,” she says.

For more information on The Healthy Brain Initiative: The Public Health Road Map for State and National Partnerships, 2013-2018, visit alz.org/publichealth. For more information on Alzheimer’s disease and the Alzheimer’s Association, call 1-800-272-3900 or visit alz.org®.

Rhode Island General Assembly Tackles Senior Issues

Published in Pawtucket Times, July 19, 2013

At the end of June, Rhode Island lawmakers passed the state’s $8.2-billion FY 2014 state budget bill, sending it to Governor Lincoln D. Chafee’s desk for his signature. Even with $ 30 million ultimately slashed from the state’s fiscal blueprint because of lower-than-anticipated revenues, cash strapped taxpayers were happy to learn that they will not see any state tax or fee increases.

Political correspondents in print, electronic media and in web site blogs zeroed in on specific items in the state’s enacted budget plan, those that they judged as weighty and newsworthy to be detailed to their audience. Like the phoenix rising from the ashes, the FY 2014 state budget brought back to life the state’s historic tax credit (through the efforts of Executive Director Scott Wolf, of Grow Smart and a broad based coalition of over 100 groups), also putting dollars into workforce development, even helping the Ocean State’s burgeoning artist community by enacting a state-wide sales tax exemption on specific types of art purchased. With the budget now signed into law, Rhode Island liquor retailers are able to compete against competitors in nearby Massachusetts because of a new 16-month trial period for tax-free wine and liquor sales.

One of the more controversial items in the FY 2014 state budget that fueled heated discussions on WPRO and WHJJ radio talk shows was putting funds in the state budget to pay the first installment payment of $2.5 million on the bonds issued to the now bankrupt 38 Studios.

Funding Programs and Services for Seniors

Although not widely reported in many media outlets, Rhode Island lawmakers did not turn their back on aging baby boomers or seniors.

The FY 2014 budget provides $1.0 million in Community Service Grants to organizations serving the elderly, including $200,000 for meals on wheels, $25,000 for Home and Hospice Care and level funding for Senior Centers across the state.

It also consolidates funding for care for the elderly, consistent with the Integrated Care Initiative. This initiative will coordinate care of the elderly, many of whom are eligible for both Medicare and Medicaid and who navigate disjointed payment and delivery systems. With the state’s enacted budget, there will be a single funding and delivery system that integrates long term, acute and primary care to dually-eligible individuals.

Also, the state’s budget plan maintains the Rhode Island Pharmaceutical Assistance to the Elderly program (RIPAE), coordinating with benefits provided through the Affordable Care Act and ensuring no gaps in coverage for low income seniors.

It also directs funding for programs and personnel within the state’s Office of Health and Human Services to combat waste, fraud and abuse, including the new Medicaid Fraud Control Unit, to ensure Medicaid dollars return as much value for participants as possible.

The enacted budget also establishes $80,000 for the Emergency and Public Communications Access Fund to improve emergency communication and to support emergency responder training for the deaf and hard of hearing population in the State.

TDI Expansion Becomes Law

Meanwhile, on July 3^rd, Rhode Island lawmakers approved legislation (S 231 B, 5889A), sponsored by Sen. Gayle Goldin (D-District 3, Providence) and Rep. Elaine Coderre, (D-District 60, Pawtucket) to expand temporary disability insurance to employees who must take time out of work to care for a family member or bond with a new child in their home (see my May 17 issue of the Pawtucket Times, May 19 issue of Woonsocket Call).

Women’s Fund of Rhode Island CEO Marcia Conė and the WE Care for RI coalition, consisting of over 40 groups, brought in national politico operative, Steve Gerencser, who consulted and developed the game plan and messaging needed to get the TDI legislation passed and onto the Governor’s desk for signature. Rhode Island becomes the third state in the nation to pass a paid family leave law.

Signed by Democratic Governor Chafee, the new law will increase the state’s TDI program to cover up to four weeks of wage replacement for workers who take time off to care for a seriously ill child, spouse, domestic partner, parent, parent-in-law or grandparent or to bond with a new child, whether through birth, adoption or foster care. Temporary caregiver benefits would be limited to those who are the caregiver of their sick or injured family member, and the program would require documentation from a licensed health care provider.

“The most important reason for this legislation is to provide support to help families in times of need, but it has many good ripple effects for Rhode Islanders,” noted Coderre. This includes saving on avoidable medical costs for people who will be able to stay home with a family member instead of needing to admit their family member to an expensive medical facility. It can mean that someone keeps their job.

Adds Senator Goldin, unpaid leave isn’t always an option, and it’s a very difficult option for most families. “Paid caregiver leave is a cost-effective way to keep people from losing their jobs, jeopardizing their financial security or risking their family’s well-being when a family member needs care,” she said.

The expansion would be funded through employee contributions, just as the rest of the TDI program is currently funded. In order to support the expanded benefits, employees would contribute another 0.075 percent of their income to TDI. For a worker earning about $40,000 a year, this would mean he or she would pay an additional 64 cents a week for the expanded benefit.

Also Becoming Law…

Governor Chafee has also signed the Family Caregivers Support Act of 2013 passed by the Rhode Island General Assembly.

Aiming to improve the quality of life for the elderly and the disabled in the comfort of their own homes, an approved legislative proposal requires the Executive Office of Health and Human Services to develop evidence-based caregiver assessments and referral tools for family caregivers providing long-term care services.

Sponsored by Rep. Eileen S. Naughton (D-Dist. 21, Warwick) and Senate Majority Whip Maryellen Goodwin (D-Dist.1, Providence), the legislation calls for an assessment that would identify specific problems caregivers or recipients might have, carefully evaluate how those situations should be handled and come up with effective solutions.

The legislation defines “family caregiver” as “any relative, partner, friend or neighbor who has a significant relationship with, and who provides a broad range of assistance for, an older adult” or an adult or child “with chronic or disabling conditions.” Rep. Naughton said people should be aware that there are support systems and an abundance of resources available for home care before deciding to put an elderly person in a nursing home or an expensive facility.

Senator Goodwin added that without the proper support, the current system can place an unnecessary burden on both facilities and caregivers.

“We want fewer individuals going into nursing homes and similar facilities if we can help it,” says Rep. Naughton. “It’s upsetting for an elderly or disabled individual to have to trade the comfort of his or her home for an unfamiliar place. Family caregivers not only know the medical needs of these individuals, but are often aware of their emotional needs, too,” she said.

The comprehensive assessment required as part of Medicaid long-term service reform is meant to provide assistance with activities of daily living needs and would serve as a basis for development and provision of an appropriate plan for caregiver information, referral and support services. Information about available respite programs, caregiver training, education programs, support groups and community support services is required to be included as part of the plan for each family caregiver.

Addressing Long Term Care Needs

Other approved legislative proposals, supported by the state’s nursing facility industry, were also signed by Governor Chafee.

Lawmakers passed and the Governor signed legislation to permit pharmacies that sell medications to nursing homes to buy them back, with a “restocking” fee. Under the new law, medications that are individually packaged, unopened, and meet other safety requirements as determined by a pharmacist can be used rather than being discarded.

Also signed into law were measures that promote “aging in place” and direct the state’s Department of Health to review regulations to permit this.

Finally, the Governor signed the Palliative Care and Quality of Life Act, which establishes an advisory council and program within the Department of Health. Also, beginning in 2015, every health care facility must establish a system for identifying patients or residents who would benefit from palliative care and provide information and assistance to access such care.

Virginia Burke, CEO and President of the Rhode Island Health Care Association (RIHCA), observed that this year’s legislative session had mixed results for nursing home residents. Most of the bills that the group supported did pass, which “should lead to enhanced care for our residents,” she says.

According to Burke, “Unfortunately, providers were anticipating an adjustment to their rates this fall to address price increases in things like insurance, food, and utilities and that was taken away due to the budget deficit. We’re very lucky that Rhode Island providers are known throughout the nation for their delivery of quality care, but quality begins to suffer when providers don’t have adequate resources to do the job.”

This year difficult budgetary choices were made to balance the state’s budget. Although aging advocates did not get everything they pushed for, Governor Chafee and the Rhode Island General Assembly did fund programs and services that are sorely needed by the state’s growing senior population. I urge lawmakers to continue these efforts in the next legislative session.

Herb Weiss LRI ’12 is a Pawtucket-based writer who covers aging, health care and medical issues. He can be reached at hweissri@aol.com