Tag Archives for Medicare

Senate Aging Committee: Seniors urged to prepare for making financial decisions

Published in RINewsToday on January 31, 2022

Over two weeks ago, U.S. Senators Bob Casey (D-PA) and Tim Scott (R-SC), Chairman and Ranking Member of the U.S. Senate Special Committee on Aging, urged seniors and people with disabilities to make a New Year’s resolution to prepare for anticipated financial decisions.

The hearing highlighted the importance of President Joseph Biden’s Dec. 2021 executive order to enhance customer experiences across federal agencies and align services to support people at critical decision points in their lives, like turning 65. This executive order expands retirees’ ability to claim Social Security benefits online, receive updates on their application status and access personalized online tools for Medicare enrollment and coverage options.

At this Senate Aging Committee hearing held on Jan. 13, the Senators released a bipartisan report entitled, “Financial Literacy in Retirement: Providing Just-in-Time Information and Assistance to Older Americans and People with Disabilities” along with a brochure for consumers to help them navigate these decisions.

This Senate Aging Committee report examines the real-time information and help older Americans and people with disabilities need as they face changes in their lives, known as “just-in-time” financial literacy.

“This year, more than 10,000 Americans will turn 65 every day. Around kitchen tables all across the country, retirees and seniors are asking: ‘Should I take my Social Security or should I wait?’ and ‘Do I need to sign up for Medicare, or can I wait?’ These are not simple decisions,” said Casey. “As we begin 2022, I urge seniors to make a New Year’s resolution: take stock of your finances and get prepared for these upcoming decisions, says the Pennsylvania Senator in a statement.

Adds Scott, “Financial literacy is key to making the most out of the financial opportunities our country has to offer. And much like education, it never loses its power — no matter your stage of life,” noting that the report will empower seniors to make wise financial decisions, laying the groundwork for security and peace of mind in their golden years.

The 26-page report identifies the six common decisions that require, and can benefit from, this kind of financial literacy: claiming Social Security, enrolling in Medicare, annuitizing a 401(k), giving to charity, downsizing a home, and responding to a natural disaster.

Putting the spotlight on Financial Literacy in Retirement

Four witnesses testified at the one hour and 18-minute hearing.

In her testimony, Gerri Walsh, President of the Washington, DC-based Financial Industry Regulatory Authority, applauded the timeliness of the hearing because “financial literacy in America is low and has declined over time.”  She cited a 2009 study that found 42 percent of American adults demonstrated high levels of financial literacy, this figure deceasing to 34 percent in 2018. “Despite increasing low levels of financial literacy, 71 precent of Americans believe they have a high level of financial knowledge, suggesting widespread over confidence,” she told the attending Senators.

According to Cindy Hounsell, JD, President of the Washington, DC-based Women’s Institute for a Secure Retirement, many workers are not knowledgeable about issues they will face during their retirement.  The impact of future inflation and taxes is not known by most and is not included in financial planning for retirement. This can have an impact on retirement income. Individuals also are oftentimes confused about how much income they will need to cover their expenses in retirement.  Many retirees struggle to plan how they will draw down assets.  Longevity risk is poorly understood and not widely planning for.  Finally, women assume they will keep working beyond age 65 but will end up retiring earlier than expected due to job loss due to health issues, or caregiving.

“As a nation with an aging population, we need to educate the public on strengthening existing retirement programs wherever possible,” said Hounsell, “That means focusing especially on the links to both Social Security and Medicare, employer-sponsored retirement programs and emergency saving initiatives, and educating average workers about how these systems work to prevent penalties and loss of benefits,” she added.

Workers Not Knowledgeable About Retirement Issues

According to Hounsell, many workers are not knowledgeable about issues they will face during their retirement.  The impact of future inflation and taxes is not known by most and is not included in financial planning for retirement.  This can have an impact on retirement income. Individuals also are oftentimes confused about how much income they will need to cover their expenses in retirement. Many retirees struggle to plan how they will draw down assets.  Longevity risk is poorly understood and not widely planning for. Finally, women assume they will keep working beyond age 65 but will end up retiring earlier than expected due to job loss, health issues, or caregiving.

Dorothea Bernique, founder and executive director of North Charleston, South Carolina-based Increasing H.O.P.E. a financial training center, reported that 14.9 percent of the South Carolina households have income below the federal poverty threshold and have a lack of basic financial knowledge, this resulting in a very low well-being score of 18 percent in the state.

Bernique noted that lack of basic financial knowledge can result in seniors not having the ability to make choices during retirement. “Hence this is how our seniors end up as greeters at the nearest Walmart when they should be enjoying the golden years of their lives,” she said.

Finally,  Patti Szarowicz, a certified Aging and Disability Resource Connection (ADRC) Counselor at the Atlanta Regional Commission Area on Aging,  stated that she plays a critical role in assisting seniors navigate complex systems.  She helps callers to locate the nearest senior center and to find rides to medical appointments, to identify financial assistance in paying bills, securing home and community-based services and respite support groups for caregivers.

“I can hear the pain and despair in the voices of callers, who say things like, ‘I’m in trouble, and I don’t know what to do. Please call me back, I’m going to be homeless,’” she says.

Szarowicz called on Congress to support ADRCs to hire additional councilors, allocate more funding to enhance user-friendly technology for documenting client data and better integration across technology systems used, which includes telephone, resource database and client management systems. Public awareness of the national network of Area Agencies on Aging is also key to directing people to unbiased guidance for resources.

Take advantage of the Senate Aging Committee’s resources to make financial decisions, in your retirement years. You won’t regret it. 

To obtain a copy of the Senate Aging Committee report, go to https://www.aging.senate.gov/imo/media/doc/Financial%20Literacy%20Booklet.pdf.

To obtain a copy of the brochure, go to https://www.aging.senate.gov/imo/media/doc/Financial%20Literacy%20Brochure.pdf

Contact financial_literacy@aging.senate.gov to request printed copies of the brochure.

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Campaign reminds Veteran caregivers to “Take Care of Themselves”

Published in RINewsToday on January 17, 2022

Since 2011, AARP and the Ad Council have launched public service announcements (PSAs) encouraging America’s caregivers to care not only for their loved ones, but also for themselves. Over the years, these PSAs s have targeted women aged 40 to 60, male caregivers aged 35 to 60 and Hispanic/Latino and African American/Black caregivers with an emphasis on women ages 35 to 60.The partner-driven ad campaign directs viewers to AARP’s Family Caregiving site, where caregivers can find free care guides, self-care tips, planning resources, legal and financial guidance and more.

Now AARP and the Ad Council’s have released the PSA, “Roxana’s Story,” on Dec. 9th. The latest evolution of the Caregiver Assistance campaign aims to acknowledge the unique challenges that military veteran caregivers face and provide them with free resources from AARP to better care for their loved one and themselves.

Roxana Tells Her Caregiving Tale

In 2003, Roxana, a full-time student, became the full-time caregiver of her husband, Victor. In the PSA she recalled receiving a 4 a.m. phone call where she learned that her husband had been wounded in action in Afghanistan, having received a moderate traumatic brain injury. Roxana was suddenly thrust into the role of caregiver to Victor, through his initial recovery process, and then having to adjust to his injury for the rest of their lives.

Reflecting over the last 18 years, Roxana stated in the PSA the realization that one of the most important components of being a caregiver is taking care of yourself. “I didn’t want to forget that I also had goals, and a life,” she said, noting that she asked Victor to “meet me halfway.” With assistance from his therapists, he was able to help with everyday chores.

The PSA, the first-ever targeting caregivers of veterans and current members of the military, addresses the unique caregiving challenges facing these individuals, reminding the more than 6.5 million military veteran caregivers that there are resources available to them. The PSA is recorded as either a :30 or 60-second message, was filmed and directed by military veterans from the veteran-owned creative shop Gig line Media (the production arm of We Are the Mighty).

Military veteran caregivers experience unique challenges when providing care. For many in this group, their caregiving journey starts earlier in life (85% are under 40) and lasts longer, according to Caregiving in the U.S. 2020, a report by AARP and the National Alliance on Caregiving. They deal with challenges that civilian family caregivers don’t normally face, including unseen injuries and wounds. They also consistently experience worse health outcomes, greater strains in family relationships, and more workplace problems than non-caregivers. Many also spend more time helping with emotional support or social interaction due to mental or behavioral health diagnoses.

“Oftentimes those caring for veterans and current member of the military experience a high emotional and physical toll, including consistently worse health outcomes and greater strains in family relationships compared to other caregivers,” said Bob Stephen, vice president of family caregiving and long-term care at AARP in announcing AARP’s lates PSA campaigned targeting military veteran caregivers. “Through this campaign, AARP will continue to recognize and provide resources to support these valued caregivers who play such a vital role for veteran and military families,” he says.

For caregivers who are unsure about seeking help because they think it’s selfish or a sign of failure, the PSA campaign reminds them that they can’t care for their loved one without also caring for themselves.

The PSAs direct viewers to AARP’s Family Caregiving site at www.AARP.org/Caregiving and www.AARP.org/Cuidar, where caregivers can download a free military veterans Caregiving Guide for self-care tips, planning resources, legal and financial guidance, and more in English and Spanish as well as AARP’s new Veterans and Military Families Health Benefits Navigator, a one-stop-resource in English and Spanish to help make the process less confusing and overwhelming when it comes to available options for U.S. Dept. of Veterans Affairs (VA) health benefits, military Tricare, Medicare, private insurance and Medicaid.

“Taking care of a veteran in your life often means that you start younger and care for longer. In many cases, this means you’re forced to manage situations other family caregivers aren’t forced to face,” said Michelle Hillman, Chief Campaign Development Officer of the Ad Council. “We’re humbled to continue this campaign to remind the millions of military veteran caregivers that they do not face these unique challenges alone.”

For more information about caregiving resources, please visit AARP.org/Caregiving or call 1-877-333-5885 or www.AARP.org/Cuidar or call 1-888-971-2013 for Spanish resources.

Some Favs… Looking Back at 2021

Published on January 3, 2022 in RINewsToday

As an ‘age beat’ journalist for over 40 years, I have penned more than 813 articles covering aging, health care and medical issues. These authored and coauthored pieces have appeared in national, state, and local trade and association publications, dailies, weeklies, and in this weekly column in RINewsToday.com. Some were even republished in my two books, Taking Charge: Collected Stories on Aging Boldly (2016) and Taking Charge: Volume 2  More Stories on Aging Boldly (2021).

I provide you with a few of my favorite publish weekly commentaries published in 2021 that you may have enjoyed reading. Many of these articles in their entirety and others can be viewed on my author archive  page at rinewstoday.com/herb-weiss/.

“Study Takes Look at Decision Making /in Getting a COVID-19 Vaccine,” published on Jan.  25, 2021 in RINewsToday.com. 

With colder weather keeping people indoors and holiday events drawing families together, Rhode Island like other states continue to see a growing transmission of the COVID-19 Delta, and now Omicron variants. The debate of mandating vaccines has expanded into requiring a booster, too. 

This article reported on research findings that suggested ways as to how to increase a person’s likelihood to get vaccinated. Even though researchers didn’t touch on requiring booster shots, the findings should still be relevant in the current debate, as science is showing the waning of the vaccine after many months.

The COVID-19 Vaccine Education and Equity Project Survey, a group whose mission is to increase public dialogue on vaccine education, released survey findings that showed the preferred locations to receive COVID-19 vaccines, and which leading information sources are two influences over a person’s decision to get vaccinated.

The study, commissioned by the Washington, DC based Alliance for Aging Research, one of the three nonprofit organizations leading the project, found the majority (51 percent) of respondents ranked their healthcare provider or pharmacist as one of the sources most likely to influence their decision to get a COVID-19 vaccine. Almost two-thirds (64 percent) of respondents said they would prefer to receive a COVID-19 vaccine in their healthcare provider’s office.

After healthcare providers and pharmacists, when asked to provide the top two additional sources of information about COVID-19 vaccines that would most influence their decision to get vaccinated, 32 percent of respondents cited nationally recognized health experts, and 30 percent named family and friends. However, older respondents were increasingly more likely (75 percent ages 65 and older) to trust their healthcare provider or pharmacist, followed by 43 percent (ages 65 and older) trusting nationally recognized health experts.

The majority (64 percent) of respondents indicated they would prefer COVID-19 vaccination in their healthcare provider’s office, while 29 percent prefer a pharmacy, 20 percent a drive-thru vaccine clinic, and only 13 percent would like to receive the vaccine at a grocery store or pharmacy.

Additional factors driving the location where respondents would like to receive the vaccine included the ability to get the vaccine quickly or not have to wait in line (45 percent) and a location close to home (41 percent), the study found.

“A Call for House Dems to Bring Back House Aging Committee,” published on Aug. 16, 2021 in RINewsToday.com.

Last Aug, Rhode Island Congressman David Cicilline, along with fellow lawmakers, Jan Schakowsky (D-IL), Doris Matsui (D-CA), who serve as co-chairs of the House Democratic Caucus Task Force on Aging and Families, introduced H. Res. 583 to amend the rules of the House to establish a House Permanent Select Committee on Aging. This is the Rhode Island lawmaker’s fourth attempt, and in the upcoming months he must push for passage by the House Rules Committee.  

H. Res. 583 would reestablish the House Aging Committee without having legislative jurisdiction; this being no different than when the permanent committee previously existed. It would be authorized to conduct a continuing comprehensive study and review of aging issues, such as protecting the Social Security and Medicare programs, income maintenance, poverty, housing, health (including medical research), welfare, employment, education, recreation, and long-term care. These efforts impacted legislation taken up by standing committees. It has been referred to the House Rules Committee for consideration.

“America’s seniors have spent a lifetime working hard and moving our country forward and they deserve the best in their retirement,” says Cicilline, in this article. “The pandemic has disproportionately impacted seniors and now with growing concerns about inflation, seniors on fixed incomes will bear the burden of the rising cost of prescription drugs, food, housing, and other essentials,” he says, noting there has never been a more urgent time for Congress to reauthorize the House Permanent Select Committee on Aging than right now,” he says. 

At press time, there are just 40 cosponsors of H. Res. 583. Bob Weiner, the former staff director of the House Permanent Select Committee on Aging under Chairman Claude Pepper (D-FL), warns that to get  the attention of House Speaker Nancy Pelosi (D-CA) and leadership of the caucus, there should be 100 cosponsors – an obtainable number.

“When Congress gets back from recess, the Rhode Island Congressman must now push for more cosponsors and meetings to get this resolution endorsed by the House Democratic Leadership and the House Rules Committee and then passed on the House Floor”, says Weiner, noting that a GOP takeover of the House after mid-term elections could ensure that this effort will be legislatively blocked unless it has overwhelming support to show a constituent price.  

“It’s now time to stamp out Antisemitism,’ published on Oct. 18, 2021 in RINewstoday.com.  

Throughout 2021, three of my weekly commentaries warned that Antisemitism is alive and well in the United States, Germany, and throughout the world, and called for Rhode Island lawmakers to condemn all acts of hate within Rhode Island’s borders.

The article reported on the alleged charges of Gil Ofarim, a popular German-Israeli singer who lives in Germany, about an alleged anti-Semitic remark made by an employee at the Westin Hotel in Leipzig.

Director of AJC Berlin said, “Marriott should take all necessary steps to ensure that something like this will never happen again. AJC stands ready to help with our expertise and knowledge.”

The article reported that the FBI’s annual Hate Crimes Statistics Act (HCSA) report, revealed that 2020 saw a six percent increase in reported hate crimes from the previous year and represented the highest total in 12 years. The latest FBI’s report, released Aug. 30th, is based on voluntary local law.

This article also reported on the top school administrator with the Carroll Independent School District in Southlake advised teachers that if they have a book about the Holocaust in their classroom, they should also provide students with a book from an “opposing” viewpoint, according to an audio recording obtained by NBC News.

“How do you oppose the Holocaust?” quipped one teacher in response to the school administrator, with the school district later apologizing. Last month, the School District approved a change to district policy that prohibits employees from secretly recording video of meetings or work sessions.

The survivors who witnessed the horrors of the Genocide and the Holocaust during World War II continue to dwindle in numbers and will soon no longer be here to share their tragic stories. Rhode Island’s Genocide and Holocaust Education Commission, recently created by the General Assembly, is organizing and gears up to keep this knowledge alive to millennials, Gen Z, and other generations. 

“It’s Time to End Suicide by Bridge in Rhode Island,” published on July 26, 2021, in RINewsToday.com.

Last legislative session, Rep. Joseph J. Solomon Jr.’s (D-Dist. 22), legislative proposal, H-5053, to require safety barriers or netting on the three bridges that connect Aquidneck and Conanicut Islands to the mainland of Rhode Island, never came out of the House Corporations committee.

“Too many people have committed suicide on those bridges in the last decade,” said Rep. Solomon in a statement released when the bill was introduced last January. “Due to technological advances, there are various types of barriers and netting available to increase safety without hindering access for routine inspection and maintenance of the bridges,” he said.

“It’s not only a serious problem, but an alarmingly frequent one,” said Solomon explaining why he introduced his bill, as reported in this article. “Last year alone, the Portsmouth Police responded to the Mount Hope Bridge 36 times. And the cost of suicide goes far beyond the individual. It affects friends, families, first responders, and health care professionals. Those who survive the fall all say the same thing: “they feel instant regret the moment their feet leave the railing,” he said.

This weekly commentary detailed the efforts of forty-year Samaritan volunteer Bryan Ganley and East Bay resident Melissa Cotta, who initiated a petition for safety/suicide prevention barriers to increase awareness of this issue and to show that residents of Rhode Island, as well as the surrounding areas that use our bridges all the time are in support of these barriers.

Ganley and Cotta have submitted a request for funding to the General Assembly’s American Rescue Plan Act State Fiscal Recovery Fund Recommendation Portal. The Rhode Island Turnpike and Bridge Authority also has submitted a request to this portal requesting funding for an engineering study.

Six months ago, 2,630 people signed Cotta and Ganley’s petition. At press time, over 4,062 signatures have been collected calling for new barriers to Rhode Island’s unprotected bridges. To view and sign this petition, go to tinyurl.com/ribridgingthegap.