Many adult children wonder what their aging parents may need and how can they can help provide it for them. You may constantly worry about your parents or other older loved ones, especially if you live far away from them. You can, however, take some simple steps to ensure your parents are safe as they […]
Aging Care: 6 Tips for Caring for Elderly Parents Read More »
It is easy to burn out when you are responsible for providing full-time care to an aging or disabled loved one. In some cases, caregiver burnout can result in resentment toward the individual they care for, despite their love for them. The fact is, we all need a break sometimes. That is why respite care
What Is Respite Care? Can It Help With Caregiver Burnout? Read More »
When it comes to filing your 2022 federal tax return for the 2023 tax season, you may be able to access several forms of assistance for free. Filing Online: IRS Free File In January 2023, the Internal Revenue Service (IRS)’s Free File service opened to taxpayers. Through IRS Free File, you can prepare and file your federal
This Tax Season, Seniors Can Get Free Assistance Read More »
Every three months, those with original Medicare receive a claims statement called a Medicare Summary Notice. As Medicare.gov explains, this notification describes all the services or supplies that providers or suppliers attributed to Medicare during the preceding three months. The document shows how much of each payment Medicare covered and the maximum amount the recipient could owe the
What Is a Medicare Summary Notice? Read More »
According to a recent national study, nearly a quarter of Americans aged 50 and older say they – or a loved one – needed long-term care in 2022. The findings further suggest that seniors and their caregivers could benefit from more consumer-friendly information and guidance about long-term care services, a need researchers say will grow exponentially in
Older Adults Lack Information in Search for Long-Term Care Read More »
While a guardian can support the protected person by making important decisions, in some cases, an individual may wish to change or dissolve the arrangement. The ward, their family, or other involved people might feel that the guardian is not doing a good job. They may then petition the court for the removal of the
Ending Guardianship of an Adult Read More »
Are you a taxpayer who has purchased long-term care insurance (LTCI)? Take note of your policy details and your premium amount, as you may be able to deduct the cost – or at least part of it – from your 2023 income. If your total eligible medical expenses (including your LTCI policy premium) for the
Deducting Long-Term Care Insurance Premiums in 2023 Read More »
The Senate and House have cleared the passage of a year-end $1.7 trillion appropriations bill that will benefit older adults on a number of fronts. The bill, which runs more than 4,000 pages and includes a wide variety of legislation, heads to President Biden next for his signoff. Here is a breakdown of some of
Highlights of How the Omnibus Bill Will Benefit Older Adults Read More »
In October 2022, the Internal Revenue Service (IRS) announced contribution limitation adjustments for employee retirement plans in response to inflation. The IRS issued Notice 2022-55, which describes cost-of-living adjustments for retirement and pension plans. The changes are effective as of January 1, 2023. Increases to Contribution Limits for Retirement Plans in the New Year In 2023,
IRS: You Can Contribute More to Retirement Starting in 2023 Read More »
You may be nervous about whether Medicare will cover a second opinion if you wish to confirm whether a medical treatment or surgery is right for you. Given the cost of doctor visits today, the prospect of an out-of-pocket expense for a second opinion is understandably concerning. Under Medicare Part B… Medicare Part B will help
Does Medicare Cover the Cost of Getting a Second Opinion? Read More »