This section is dedicated to providing seniors, family members, and caregivers with news, tips, articles, and information pertaining to everyday living, housing, and other relevant issues that affect today's Seniors.  With all the options currently out there and the changing markets, choosing the best option can be difficult.  With valuable information provided here, we can help take the confusion out of the housing equation!

New FHA Reverse Mortgage Program Gives More Flexibility To Senior Homestead

What Is Respite Care And Where Can I Find It?
Article written by:
Adagio Manor Assisted Living
Life at Your Tempo!
www.adagioassistedliving.com

Respite care is giving the care giver some time off. How much time off? That depends on the need. Respite care can be during the day, over night or for 2 weeks. Care givers that are providing daily care for a loved one sometimes need time off. Maybe they need a day to go shopping and run errands, or maybe they need to go to work, or maybe they want a weekend at the lake. Or maybe the caregiver has some medical issues themselves that may require a hospitalization or some time off to take care of themselves. Most care givers including wives, husbands, sons and daughter’s need some time away.

Adagio Manor Assisted Living can help by providing the respite care. We can bill in increments as few as 12 hours or by the week.  To prepare for respite care we go through our regular admission process to ensure that we are providing high quality respite care for your loved one. Then, just let us know when that break is needed and we will gladly schedule respite care for your loved one!

Minnesota Seniors Respite Care Directory

Respite has been shown to help sustain family caregiver health and wellbeing, avoid or delay out-of-home placements, and reduce the likelihood of abuse and neglect.  An outcome based evaluation pilot study showed that respite may also reduce the likelihood of divorce and help sustain marriages.^[2]

What Should You Do If Your Property
Is Damaged in a Storm?

Article written by Daryl C Johnson
MN Public Insurance Adjuster
License # 40279355
612-369-1449
Daryl@darylcjohnson.com
www.darylcjohnson.com

I enjoy Minnesota and its four seasons. I am looking forward to the warmer temperatures of spring and its first gentle rain.

As we know, with the change of temperature and air movements, the rains and winds may not be so gentle.

In the insurance industry, storm damage is considered to be an “act of God”. The property owner did not directly cause this damage. Therefore, Insurance companies can not single out one particular homeowner and raise insurance rates for this insurance claim.

Prior to the storm season you should review your insurance policy to verify insurance coverage.

1. Do you have a copy of your full policy with all the supplements and addendums? The full policy is not sent out each year, upon renewal.  If you do not have the full policy, call your agent and request that it be sent to you.
2. Is the correct property owner(s) listed on the Declarations page? This is who owns the policy and will receive any proceeds from the policy.
3. Do you have “Replacement Cost” coverage or “Actual Cash Value” coverage? Actual Cash Value is replacement cost minus depreciation.
4. Do you have enough coverage?
5. An excellent article by the Dept of Commerce on Homeowners Insurance is at this link: What you need to know

In the event of storm damage, what can you expect and what should you do if your property is damaged? 

1. The first thing is the safety of you and your loved ones.
2. Insurance policies require you to take reasonable steps protect your property from further damage. Your safety comes first.
3. File your claim. Call your insurance agent. At this time you do not need determine exact cause or calculate the cost to repair.
4. Most property owners will have difficulty with the following critical steps in an insurance claim. 

PROOF OF LOSS

• Proving your loss is your responsibility.  May things are overlooked or not considered in most insurance claims.  Adjusters working for the insurance company are busy and are not contractually obligated to determine the full extent of your loss.  This may leave a homeowner with not enough money to fully restore their property. 

SCOPE OF WORK AND ESTIMATES

• Painting a room is a good example of "Scope of Work".  The Actual paining is the easy part.  Most of the time is spent on preparing for painting. 
• Defining what work is going to be done and getting a fixed estimate for the work is important.
• For example:  You may received a bid from a roofing contract with a general statement like:  "Removed old shingles and install new shingles".  Does this mean he will also install the proper ice and water membranes?  Will he replace the metal valleys?
• Poorly defined specifications or scope of work may lead to note enough money to properly repair your home. 

NEGOTIATING A SETTLEMENT WITH YOUR INSURANCE COMPANY

• Insurance companies are not contractually obligated to prove your loss or determine the correct amount of money to restore your home.
• Company Adjusters are busy and mistakes will be make
• You do not have to accept the first offer given by the Insurance Company.
• It takes a good understanding of construction, building standards and codes to correctly determine the amount of your claim. 

5. Do not authorize the start of construction (except for emergency protection) until a settlement has been reached with your insurance company.

a.      Expect different contractors or salesman at your door after a storm. Sometimes they will arrive within 24 hours. Most Contractors are reputable and honest but the elderly are particularly vulnerable to Contractor scams. If at all possible, have a friend or relative sit in on all meetings with Contractors.

b.      Important: Money received for an insurance claim is your money for your expenses to repair, replace or restore your damaged property. Do not sign your claim and your money over to a Contractor.

c.      Sales pressure to sign a contract. Besides temporary protection services there is no need to rush into signing a contractor. Take your time to get proper estimates with firm prices. Have the contract reviewed by a relative or trusted friend.

d.      Get actual estimates with firm prices. Contractors will try to “take over your claim”  with unspecified estimate amounts. You may see wording such as:  “The amount the insurance company will pay” or “authorization to talk with your insurance company”.

e.      MN Dept of Labor and Industry warns against these types of contracts at this web site:  “do some homework before hiring a building contractor after a storm”.

f.        Be cautious of large down payments to a contractor. Never pay more than 20% down.

g.      Use established local contractors, if possible.

h.      Check to see if the Contractor is a licensed contractor and has proper liability and workman’s compensation insurance.

Wrapping up the insurance claim and restoration. Unless the claim is small, your insurance company will not issue the final check until the restoration is complete. Notify your insurance company that the project is complete and request the final payment.

Collect a Lien waiver (a waiver from the Contractor stating that they have been paid and   waive their rights to file a lien on your property) from your contractor. You should collect a waiver for every payment made to a Contractor.

If your project required a building permit, make sure the building project has passed the final inspection prior to making the final payment to the Contractor.

Article written by Daryl C Johnson
MN Public Insurance Adjuster License # 40279355
612-369-1449
Daryl@darylcjohnson.com
www.darylcjohnson.com

WHAT IS A SENIOR HOUSING COOPERATIVE?
by Realife Cooperative of Brooklyn Park
3100 85th Ave. N
Brooklyn Park, MN  55443
763-315-3993
www.SeniorOnEdinburgh.com

Senior housing cooperatives provide affordable living with a neighborly perspective for active adults 55+.  Cooperatives are not-for-profit organizations that are owned and controlled by the membership. 

A cooperative is an owner-operated development. Through the purchase of a share in the cooperative, residents have an exclusive right to occupy a particular building unit and have equal voting status in electing members to the Board of Directors which oversees the operation of the cooperative.  Members take pleasure in enjoying shared spaces and amenities like libraries, workshops, craft rooms, exercise rooms and community gardens. No more worries about upkeep such as mowing the grass or shoveling the driveway.

Members pay a monthly fee that includes their pro-rata share of the operating expenses, insurance, real estate taxes, reserves, replacement, principal, and interest on the master mortgage.

The cooperative maintains all of the appliances, flooring, window blinds, cabinets and fixtures in the units and common areas. 

Click Here for our list of Senior Housing Cooperatives on Minnesota Seniors

Ask Dr. Marion
REHABILITATION
by Dr. Marion (Marion Somers, PhD)
www.DrMarion.com

“My father suffered a terrible fall six months ago and has been home from the rehabilitation center for the last few weeks. It seems like he’s losing his will to stick with his exercise program. What can I do?” Cheryl in Nebraska, 66

When someone has undergone a medical or physical challenge, it can be extremely difficult for them to continue with rehab once they return home from the hospital or care facility. It’s an especially difficult transition since they no longer have the stimulation and encouragement of the nurses and professionals around them. Your father can easily lose his momentum, and this will stop him from reaching a higher level of rehabilitation and functionality. You should do all you can to keep him motivated and improving.

But to do that, you must get involved. You can’t just give him the pictures or the video and the exercises he needs to do. If at all possible, stop by and do the activities with him. If you can’t be there, suggest that he put on his favorite music while he’s exercising. Time things to a favorite television show. It can also be effective with big sports fans to have them work out while the game is on. You might want to set a specific time for the workout, and then call your dad to check on him. Most people like it when others show their interest and concern this way.

Even the most disciplined and motivated person can get discouraged, so don’t put a specific time frame for complete healing. It’s important that you start this process as soon as possible so that he doesn’t get used to a certain level of pain or discomfort or lack of function. As soon as that mindset starts to set in, you’ve lost the battle. Find the fun in it and reemphasize the image of your father as a complete, healed, and fully functioning individual. Help him visualize a goal. If there’s a family wedding coming up, dancing with the grandkids should be a real target for him. Good luck!
---

Dr. Marion (Marion Somers, PhD) is the author of "Elder Care Made Easier" and has over 40 years of experience as a geriatric care manager, caregiver, speaker, and expert in all things elder care. She offers practical tools, solutions, and advice to help caregivers everywhere through her book, web site, iPhone apps (Elder 411/911), cross-country speaking tours, and more. Visit www.DrMarion.com for more information.

WAYS THAT GRANDPARENTS CAN HELP WITH COLLEGE COSTS
TLC Financial, Inc.
William Lehnertz, ChFC
952-948-1105

College is expensive. For some fortunate students, grandparents are stepping in to help. This trend is expected to accelerate as baby boomer grandparents start gifting what could be trillions of dollars over the next few decades. Helping to finance a grandchild's college education can bring great personal satisfaction and can be a way for grandparents to minimize potential gift and estate taxes. Here are some common strategies.

• Outright cash gifts
• Pay tuition directly to the college
• 529 college savings plan

Under federal law, tuition payments made directly to a college aren't considered taxable gifts, no matter how large the payment. This rule is helpful considering that annual tuition at some private colleges is now surpassing the $40,000 mark.

Click Here to Read the Entire Article

No one wants to believe they’ll need Long-Term Care
Own Your Future campaign appeals to one million
Minnesotans to come up with a plan.
Debra C. Newman, CLU, ChFC, LTCP, Founder
www.NewmanLongTermCare.com

There are three uncomfortable conversations parents should have with their children: the birds and the bees, avoiding drugs, and your plans should you ever need long-term care. It’s not as far-fetched as you might think. Once you reach 65, you’ll have a 70 percent chance of needing this type of assistance.  Unfortunately the high costs aren’t covered by Medicare.

“We prefer to say that your real risk is either zero or 100 percent,” says Deb Newman, founder of Newman Long Term Care, one of the largest and most successful long-term care marketing organizations in the country. The real question — and the bigger risk — relates to the length of time for which you may need to receive care services. Your plan must prepare for the risk of needing care that could last many years.”

If you’d rather be able to relax and spend your retirement savings on fun activities rather than worrying about the “what ifs”, there is a solution. This fall, Governor Mark Dayton will send a letter to one million Minnesotans between ages 40 and 65, appealing to them to take part in the Own Your Future campaign by developing a long-term care plan.

Minnesota is aging. Between 2010 and 2030, the number of people over age 65 will grow by 107 percent while the rest of the population grows by six percent. Many boomers have not prepared and saved enough to pay for their long-term care. A 2005 University of Minnesota study estimated that 30 percent of Minnesota boomers at retirement will not have sufficient resources to pay for health and long-term care. That number is probably higher today. Individuals who make plans for their own long-term care have control over their future, the choices they want, and peace of mind.

“You need to have a heart-to-heart discussion with your family about your plan,” urges Newman. “If you leave that part of your life unplanned, your family becomes the plan and the financial, physical and emotional stress on your family is immeasurable. It’s not fair to them.”

Dispelling the top myths about long-term care:

What pops into your mind when you think about long-term care? Nursing homes? “The reality is very different,” says Newman. “More than 85 percent of long-term care is delivered outside of a nursing home setting today. Having a long-term care plan in place will allow you to dictate how you want to be cared for.” She adds that other typical misconceptions include:

• I’ve got enough in the bank to cover long-term care. “On average, long-term care costs $7,000 a month. In 30 years, it might be four times that amount. Having a plan could make the difference between saving or losing a family business, or even whether your daughter or son will be able to afford to retire after taking time away from their careers to care for your needs.”

• Medicare must pay for my long-term care. “There is no government plan to pay for this. Many people mistakenly believe Medicare will pay for long-term care costs. It does not. Medicare only pays for long-term care under very limited circumstances. In the old days, you used to be able to give away your money and assets, and let the state care for you. That doesn’t happen anymore.”

• Long-term care insurance is expensive. “There are affordable choices. You might be able to get a good solution for under $100 a month.”

How to start your plan:

“It’s estimated that 10,000 people will turn 65 every day for the next 19 years. What will the state do if all these people need care and don’t have a plan?” asks Newman. “We’re hoping Minnesotans will embrace the Own Your Future Campaign so that they have personal and financial options to meet their future long-term care needs. The state even offers a tax credit to people who buy long-term care insurance.” Newman’s tips for preparing a plan include:  

• Start planning at age 50. “The average age for new individual long-term care insurance applicants is 57; an age when many are able to qualify for good health discounts. This discount reduces costs and remains even if your health changes. You can still do it when you’re older, but it will cost you more.”

• Make the four basic decisions. “Designing a policy is not complicated. There are just four questions to answer:

1. What monthly benefit do you want? If care costs $7000 a month, how much of that do you want covered by insurance?

2. What maximum benefit do you want? How big is your bucket of money going to be?

3. Choose an inflation feature. There are myriad of inflation figures. These are what drives the premiums.

4. What size deductible do you want? How many days of care are you willing to pay for before the policy kicks in?

5. · If you can’t afford long-term care information, talk with your family about a plan. Who will be your caregiver(s)? Should you move closer to them now? How do you want your assets used to pay for your care?

Yes, it’s an uncomfortable conversation:

But there are great resources out there. “Insurance doesn’t just pay for care,” Newman explains. “It also provides resources and support to lean on, permission to use some of what you’ve saved up for your retirement for what you’ve always wanted to do such as hobbies and trips. You have the peace of mind to spend your money on things that make you happy.”

To create a blueprint for your long-term care plan, which you can print and bring to your insurance agent to start the conversation, visit
www.NewmanLongTermCare.com.

Media Note: For additional information, or to schedule an interview with Debra Newman, contact Media Relations, Inc. at 612-798-7220.

Biography: Debra C. Newman, CLU, ChFC, LTCP, Founder

Deb Newman is a pioneer of the long-term care insurance industry and founder of Newman Long Term Care: One of the largest and most successful long-term care marketing organizations in the country. Deb's focus is on helping people understand that planning ahead will allow them to finish life well.

Nationally recognized on long-term care issues, Deb frequently speaks to insurance, financial services and government groups as well as consumers. She can be heard regularly on Minnesota's WCCO Radio and has been recently quoted by the Wall Street Journal, Star Tribune and Money Magazine.

In 2009, Deb was acknowledged by the Minneapolis/St. Paul Business Journal as one of the top 25 Women in Business. She was also named a 2009 Five Star Wealth Manager by Twin Cities Business and Minneapolis-St. Paul magazines. This award reflects client satisfaction information gathered from consumers and financial services professionals. In 2007, Deb was recognized nationally as one of the top ten on the Power List of Who's Who in Long-term Care Insurance.

Deb holds leadership positions in many insurance industry groups, including:

• Chair for the Board of Directors, Life & Health Insurance Foundation for Education (LIFE)

• President Minnesota Chapter of National Association of Insurance & Financial Advisors (NAIFA)

• Past National President, Association of Health Insurance Advisors (AHIA)

• Past President, (NAIFA) Minneapolis

Medicare Open Enrollment
Change your plan or stick with the old one?
By Teresa Ambord ~ Minnesota Good Age
The Journal of Active Life - September 2012
 

Coming soon - October 15 through December 7 - seniors and disabled persons on Medicare will have the opportunity to decide whether or not their current Medicare plans are meeting their needs.

If you are currently enrolled in Medicare Advantage (also known as Medicare Part C), or a Part D prescription drug plan, this is your chance to look around and see if you can do better.  Take some time to reconsider the plan you've chosen and you may be able to improve your benefits, or lower your premiums, or both.  Or perhaps you just need to tweak your plan to suit your current medical needs. 

Also during this period, individuals who are already Medicare eligible but not yet enrolled in Medicare Advantage, can sign up in a new plan.  And those who are participating in a Medicare Advantage or a Medicare Part D plan can cancel during this period.

What if you miss your annual window of opportunity to make changes?  You will need to wait till next year.  So let this be a strong reminder:  don't miss this opportunity.  Assuming you are happy with your current plan, why should you change or consider changing?  Because other things change, including your health care needs, your prescriptions, the benefit options, your geographic location, and possibly the premiums charged by insurers.  It's natural to be leery of change, especially if you have not been unhappy with your plan as it is.  But this is an opportunity to gain control over high health costs, possibly improve what you are getting, and tweak your plan to meet your personal medical needs. 

Click Here for the full article and a list from Medicare.gov of actions you can take during Open Enrollment. 

Beat The Heat
Summer can mean high temperatures and problems for seniors who are at higher risk for heat related illness.

Extreme hot and humid weather can cause a range of serious health conditions and even death.  while everyone feels some effects of extreme heat, some people are more vulnerable than others including children less than 5 years of age, people paged 65 and older, those with pre-existing health conditions, people who are obese and people who are poor and homeless. 

When temperatures soar and humidity levels rise to uncomfortable levels, take appropriate measures to prevent ill effects caused by extreme heat:

• Use air conditioning, or spend time in air conditioned locations such as movie theatres or shopping malls.

• Take frequent cool baths or showers.

• Limit direct exposure to sunlight.

• Limit time spent outdoors and take frequent breaks in the shad and drink water every 15 to 20 minutes, even if you don't feel thirsty. If you have clear, pale urine, you are probably drinking enough fluids

• Water is the beverage of choice in the summer. Drink water before outdoor activities an drink water at regular intervals during the day. Avoid beverages with caffeine or alcoholic beverages that can aid dehydration.

• Try to schedule outdoor activities for cooler times of the day--before 10 a.m. and after 6 p.m.

• Wear loose fitting light-colored clothing for air circulation.

• Check on your neighbors, family and friends, especially those who are older, have health issues, or have a limited support system.

• Do not leave children or pets unattended in a vehicle even for a few minutes or with the windows rolled down. 

• Wear a hat or use an umbrella when outside, even if you are not in the direct sun. Use sunscreen with an SPF of 15 or greater anytime you go outside.

•  If you have a chronic medical problem, talk with your doctor about additional precautions you should take to prevent heat related illness. Some conditions and medications may place you at higher risk.

Heat Related Conditions

Heat stress occurs when a strain is placed on the body as a result of hot weather.

Heat fatigue is a feeling of weakness brought on by high outdoor temperature. Symptoms include cool, moist skin and a weakened pulse. The person may feel faint.

Heat syncope is sudden dizziness experienced after exercising in the heat. The skin appears pale and sweaty but is generally moist and cool. The pulse may be weakened, and the heart rate is usually rapid. Body temperature is normal.

Heat cramps are painful muscle spasms in the abdomen, arms, or legs following strenuous activity. The skin is usually moist and cool and the pulse is normal or slightly raised. Body temperature is mostly normal. Heat cramps often are caused by a lack of salt in the body, but salt replacement should not be considered without advice from a physician.

Heat exhaustion is a warning that the body is getting too hot. The person may be thirsty, giddy, weak, uncoordinated, nauseous, and sweating profusely. The body temperature is usually normal and the pulse is normal or raised. The skin is cold and clammy. Although heat exhaustion often is caused by the body’s loss of water and salt, salt supplements should only be taken with advice from a doctor.

Heat stroke can be LIFE-THREATENING! Victims of heat stroke almost always die so immediate medical attention is essential when problems first begin. A person with heat stroke has a body temperature above 104° F. Other symptoms may include confusion, combativeness, bizarre behavior, faintness, staggering, strong rapid pulse, dry flushed skin, lack of sweating, possible delirium or coma.

If you show any signs of heat related illness try to get to a cooler place as soon as possible, sip some cool fluids and sponge yourself off with look with lukewarm tap water.

Senior Helper's Alzheimer's Quiz
www.MnGoodAge.com

Advisers Reverse Thinking on Reverse Mortgages
BY TOM LAURICELLA
Publication: Star Tribune; Date: Jun 17, 2012; Section: Business; Page: D9

Using your nest to help with your nest egg is becoming a more common way to round out a financial plan during retirement.

Read Full Article Here

What is a Reverse Mortage?
by Jeff Flanery of Cambria Mortgage
952-486-6114  *  Jeff.Flanery@CambriaMortgage.com

A reverse mortgage (aka HECM, Home Equity Conversion Mortgage) is a special type of loan, insured by the federal government, which allows homeowners, age 62 and older to borrower against the equity in your home.  Instead of making monthly payments you can choose to receive them.  Currently there is no income, employment or credit qualifying restrictions on a typical refinance, however, a new financial assessment regarding a seniors’ ability to pay their taxes and insurance could be around the corner very soon.  The borrowers continue to own the home and are required to make the property tax and insurance payments on the home.  

• All homeowners must be age 62 or older and occupy the property as their primary residence.

• The home must be owned free and clear, or have an existing mortgage balance that can be paid off by the reverse mortgage.

• The property must be a single family dwelling or a one to four unit owner occupied dwelling.

• Townhomes, condominiums (HRAP/DELRAP approved), PUD’s and new construction properties are eligible.

• The property must meet FHA minimum property standards.

Reasons for Getting a Reverse Mortgage

A reverse mortgage can be used for many purposes, some of which are:

• Eliminating an existing mortgage or home equity loan.

• Meeting monthly expenses.

• Help with healthcare costs or in- home care.

• Reduce credit card debt.

• Home repairs or remodeling that new kitchen with Cambria Countertops.

• Help a grandchild with college or a home down payment.

How is the loan amount determined?

The loan amount is the lesser of the maximum lending limit (currently $625,500 nationwide lending limit) or the appraised value of the home.  The amount borrowed by the homeowner is determined by a HUD formula using the following factors.

• The age of the youngest borrower.

• The lesser of the appraised value of the home or the HUD maximum lending limit.

• The current expected interest rate

The HUD formula is actuarial based; meaning the older a person is the more money they may be able to borrow.  The amount of funds available is known as the Principle Limit.

There will be costs involved in getting a reverse mortgage; they are usually broken down into three different categories:

1. Origination Fee,

2. Mortgage Insurance Premium (SAVER program drastically reduces this cost),

3. Other closing costs such as an appraisal, title insurance and government recording fees.

The good thing though about reverse mortgages is that the closing costs (as a group) can be made part of your loan proceeds. With a reverse mortgage the loan is not repaid until the house is sold, refinanced or the last remaining borrower has moved out of the house.  The only out- of- pocket expense would be paying for the FHA appraisal which is $425 and up, depending on location.  

Payout Options

With a fixed- rate loan, the borrower is required to take all of the funds up front in a lump sum.  With the variable rate loan (LIBOR), the borrower has the flexibility of various options or a combination of options; the following options are available:

• Lump sum – a specific amount of money taken immediately.  This is the only option available on the fixed rate loan;

• Term – a fixed monthly amount is for a set period of time;

• Tenure – funds are paid to the borrower in equal monthly payments as long as at least one borrower continues to occupy the residence as their primary place of residence, even if balance of the loan exceeds the value of the property;

• Line of Credit – the most popular option whereby the borrower can draw amounts as needed;

• Combination – Borrower can use a combination of the aforementioned options.

Regardless of which payment option the borrower chooses, they can make changes in their distribution option for a nominal fee, usually $20 per change.  Changing the payout option is not available for the fixed rate product, as all of the funds are taken in the initial draw.

Loan Repayment

There is no need to repay the reverse mortgage as long as one or more borrowers continue to live in the home as the primary place of residence.  Just keep current on taxes and insurance on the property and maintain the property in accordance with FHA standards.

When it is time to repay the reverse mortgage, the outstanding balance can come from the proceeds of the sale of the home, a new mortgage or any other resource to satisfy the balance.  There is no requirement that the home be sold, only that the loan be repaid.

Process in Getting a Reverse Mortgage

Education – Perhaps the most important step in getting a reverse mortgage is the process of learning how they work, getting to know the facts to see if this is a good type of financing for the borrower.  Generally the process of educating the client is done with a Reverse Mortgage Consultant (RMC) coming out to the house and finding out the needs of the client and determining the right product for them.  The RMC will present them with a proposal based on the value of the home, explain the benefits of the reverse mortgage as well as the costs associated with getting the loan, and provide them with a checklist of items they will need to provide at the application.  It is best to include members of the family or a trusted advisor to answer other questions that may arise.

Counseling – HUD mandates that an applicant for a reverse mortgage must first obtain a HECM Counseling Certificate by participating in a reverse mortgage counseling education session with an approved HUD counselor.  In addition, the state of MN requires that the counseling session be completed by a HUD approved counselor residing in MN.

Application – A RMC will help the client understand, complete and sign the application documents.  Shortly after the application is submitted (or at the time of the signing of the documents), as required by the federal Truth-In Lending Act, the borrower will receive a Good Faith disclosure that outlines the estimated closing costs.

Processing – Once the loan application is completed an appraisal will be ordered from a FHA approved appraiser to determine the HECM loan amount.  Once the appraisal is completed and reviewed to ensure the home meets FHA guidelines, the appraisal will be approved, suspended or approved subject to repairs.  A copy of the appraisal will be given to the borrower.  A processor will assist the loan officer in gathering information needed to submit to the underwriting process and help resolve the conditions the underwriter sets forth.  A copy of the home owners insurance will be requested to make sure there is adequate insurance on the property.  Title Insurance will also be requested in the processing area to protect the lender from claims against ownership of the property.

Underwriting – Once the appraisal is approved and title has been cleared, an underwriter will review the application and make sure the conditions have been met to close the loan.  If conditions need to be met to satisfy the underwriting conditions, the loan will be returned to the loan processor to gather information and satisfy the conditions.  Once the conditions are met, the underwriter will issue a clearance and move the loan to closing.

Closing – Generally there is a 4-5 week period from the application process to when the loan is ready to close.  The closing will take place in a title office or with a notary public at the borrower’s home.  All HECM loans are considered a refinance loan with the exception of a HECM Reverse for Purchase and require a 3 day right of refusal for the borrower.  There is no rescission period for a HECM for Purchase.

Paying back the loan - Once the home is no longer the borrowers’ primary residence, the loan must then be repaid.  If you default on the loan by not paying your property taxes or homeowner's insurance, or if the property conditions deteriorate and the necessary repairs are not made, the loan also becomes due and payable.

The amount owed at that time will be equal to the total amount of the cash advances you’ve received, as well as the accrued interest on those advances.  If the borrower passes away the heirs can also choose to sell the home and repay the loan. Any remaining equity in the home after the sale of the home belongs to the borrower or the heirs or the estate.

Reverse mortgages are non-recourse loans, which means if you or your heirs decide to sell the house, and the house value has dropped below the loan balance, you will never have to pay more than the home’s value.  However, if you or your heirs decide to keep the home and eliminate the HECM loan, then the full value of the mortgage needs to be paid off.

HECM for Purchase - There is a relatively new program called the HECM for purchase.  This reverse mortgage enables senior homebuyers, age 62 and older, to buy a new primary residence and obtain a Reverse Mortgage in a simultaneous transaction.  Generally the borrower uses the proceeds from the sale of their current home or they could use other assets to buy the home, thus allowing them to have no monthly mortgage payments.

HECM SAVER - One of the concerns for financial planners used to be the upfront costs associated with the standard HECM reverse mortgage.  In October of 2010, FHA designed another option to allow homeowners to borrow a smaller amount of funds than was available through the standard HECM reverse mortgage.

The HECM SAVER provides seniors with a reverse mortgage option that significantly lowers costs by almost eliminating the upfront Mortgage Insurance Premium (MIP) that is required under the standard HECM option.

The HECM SAVER has an upfront premium of only .01 percent of the property's value. Under the standard HECM option, the upfront premium remains at 2 percent.

Since the amount of money available to a borrower under the HECM SAVER program is reduced by approximately 10 to 18 percent, the risk to the FHA insurance fund is substantially lowered, resulting in a significant reduction in the cost of this reverse mortgage option.  This is why financial planning experts are now considering the reverse mortgage a viable option in the planning process.

About the Author - Jeff Flanery of Cambria Mortgage:
Jeff Flanery of Cambria Mortgage is here to serve you. Jeff is a Mortgage loan officer specializing in Reverse Mortgages and is committed to quality customer service. At Cambria Mortgage you will find our experienced, professional staff to be attentive, informative, and helpful. We will ease your concerns, answer your questions, and make the loan process straight-forward and easy to understand. Give us a call today for a free, personalized consultation.
Contact him at:  952-486-6114
Jeff.Flanery@CambriaMortgage.com
Or Click Here to visit his website

Advisers Reverse Thinking on Reverse Mortgages
BY TOM LAURICELLA
Publication: Star Tribune; Date: Jun 17, 2012; Section: Business; Page: D9

Read Full Article Here

New State Law Requires Calling Senior LinkAge Line®

If so, the State Legislature recently made changes that might impact you. Before you sign a lease or housing contract, first call the Senior LinkAge Line® for long-term care options counseling. It can help you find services that meet your needs.
 

As of  Oct. 1, 2011, all people considering moving into housing with services need to call the Senior LinkAge Line^® at 1-800-333-2433 for long-term care options counseling. Housing with services includes independent living, assisted living and enhanced assisted living. At the end of the call, you will receive a verification code that signifies the completion of the counseling. You need to give this code to the tenant coordinator or housing manager at the housing setting you choose before signing the lease. You may decline the counseling, but you still need to request a code. Click on Senior LinkAge Line to learn more about this new requirement.

To Read Full Article Click Here

*Housing with services providers are registered by the Minnesota Department of Health.
 

A Guide to Home Care Services

Class A, or professional home care agency license. Provider may provide all home care services, at least one of which is nursing, physical therapy, speech therapy, occupational therapy, nutritional services, medical social services, home health aide tasks, or the provision of medical supplies and equipment when accompanied by the provision of a home care service. These may be provided in a place of residence, including a residential center, and a housing with services establishment.

Independent Living for Seniors
UNDERSTANDING YOUR CHOICES IN RETIREMENT FACILITIES AND HOMES

As we age, many of us are faced with the prospect of revising our living arrangements. While thinking about moving can be a source of anxiety and stress, planning ahead can give you more choices for the future, making a big difference in your level of independence and quality of life.  If home upkeep and maintenance has become overwhelming, if you’re starting to need help with some services, or if you’re simply looking for a community with more transportation access and opportunities to socialize, an independent living facility may be a good option. To decide if it’s right for you, learn about your choices in independent living, including common types, and find help in choosing a residence.  Read full article by clicking here

 

Private Pay Services - How They Can Help Seniors
submitted by Eric Pederson, CCP Self Directed Services, 651-209-3350 ext. 627
 

CCP Self Directed Services is certified by the State of Minnesota as a Fiscal Support Entity (FSE). The role of an FSE is to assist a person in paying for their services through payroll support, human resources support, and expense reimbursement.

Hiring Staff

Many people choose to hire support staff to help them live independently in their homes. These staff may help in completing household tasks and chores, as well as provide for companionship. The difficulty in hiring your own staff is managing the legal employment paperwork, filing the proper taxes, and maintaining insurance such as unemployment and workers compensation.

CCP Self Directed Services will work with you to hire the staff you choose as our employee, while you manage the day-to-day supervision of the employee. As our employee, they will have all of the proper employment paperwork completed, have the proper taxes withheld and paid to the government, and be covered under our workers compensation insurance policy.

We can also assist you with human resources support, such as coaching and counseling staff, resolving conflict, or providing additional training.

If there are additional employment expenses, such as mileage reimbursement or bonuses, we can assist you with those as well.

Why Use a Fiscal Support Entity?

Using a FSE will ensure that:

1. The proper employment requirements are met

2. Taxes are properly withheld for the employee

3. Employment taxes are properly paid

4. There is a clear and accurate documentation of how money was spent

Who Are We?

Cooperating Community Programs, Inc. (CCP) has been providing services to individuals in Minnesota and Wisconsin for over 30 years. We provide services to over 1000 people; including home-based support, employment support, case management, and self directed support.

All of our services are based on a “person-centered” approach. This means that the individual, not us, should decide what services they receive and how they receive them.


For more information:
CCP Self Directed Services
1885 University Avenue/Suite 398
St. Paul, MN 55104
Eric Pederson
Phone: 651-209-3350 ext. 627
Email: epederson@theccpinc.com

Tips For Living Safe
by Brenda Darr, Minnesota Seniors Online Staff Member
 

I recently took my daughter to the doctor because she had an earache.  In the lobby of the clinic, there was a sign on the wall stating that you "should keep a list of your medications with you in the event of an emergency."  That was the inspiration for this article!  Much of the tips below can really be applied to everyone and should serve as a friendly reminder for all of us. The one mistake lots of people, regardless of their age, make is complacency in familiar surroundings. To be honest, throughout my life I've been guilty of that from time to time.

The following is a short list of tips I've compiled from my internet research.  Obviously this list is incomplete, but this covers some important and basic things you can do to keep safe:

Some General Safety Tips:

1. Do not display large amounts of cash when out in public.
2. Use direct deposit for your pension and/or social security checks.
3. Travel in groups. If you must travel alone, do not advertise the fact that you are by yourself.
4. Work out a "buddy system" with a friend so you can check up on each other at least once a day.

You Can Practice Street Smarts:

1. Avoid dark, deserted, and/or isolated routes.
2. Do not walk near walls, high bushes, or near parked cars.
3. Project an image of self-confidence while you are walking.
4. Cross the street to avoid people who make you feel uncomfortable.
5. Know how to get where you are going ahead of time.
6. If someone demands your money, give it up.
7. Keep your money in several pockets instead of just one.
8. Never accept a ride from someone you do not know well.

While You're At Home:

1. Never let a stranger into your home. Always examine their identification badge before you allow a service technician into your home.   If it's an unexpected service visit, call the company they claim to represent to verify that their reason to be there is legitimate.
2. Lock your home when you are there and when you are away. Keep your 1st floor windows locked.
3. Do not let people on the phone know you are alone.
4. Keep your phone by your bed at night.
5. Post all emergency numbers close to the telephone.
6. Leave a light on while you are out. Use a different light each time you are not home.
7. Leave the porch light on.
8. Know your neighbors and make sure they know you.

If You're An Apartment Dweller:

1. Know where you can get help in a hurry.
2. Make sure all community areas such as hallways, entries/exits, and community rooms have good lighting.
3. Use the laundry room in the apartment building when other tenants are present.
4. Look in the elevator before getting in to be sure no one is hiding inside. Get off the elevator if someone suspicious enters.
5. If you are uncomfortable with another person waiting for the same elevator as you, do not get on the elevator...simply pretend you forgot something in your apartment.  Then wait for the next one.

Using Public Transportation:

1. Use well-lit bus stops.
2. Sit near the bus driver.
3. Sit in the aisle seat, so you do not get blocked in at the window.
4. Do not get off the bus with someone that makes you feel uncomfortable.

While Out In Your Car:

1. Never pick up hitch-hikers.
2. Keep your car doors locked at all times. Get in the habit of locking all doors upon entering and leaving your car.
3. Check the back seat before entering your car.
4. As you are approaching your car, look under the car to make sure no one is hiding underneath.

In The Event Of An Emergency:

1. Keep a list of all your medications including dosage information in your purse or wallet.
2. If you use a cell phone, 911 will route you to State Patrol in St. Paul.  Program your county or municipality's direct emergency number in your phone.  This can save critical time in a life threatening situation.


Also, get in touch with your county or municipality's law enforcement office for what non-emergency services they can provide for you.   For example, do they offer checks on your home while you are away on vacation or in the hospital?  Some counties/municipalities do.

You can also take self-defense classes through your local Community Education, Community/Senior Center, or through a martial arts studio.  You can also check with your local law enforcement agency and ask about classes.

6 Costs You Should Always Negotiate
by Jodi Helmer
 

Most consumers think haggling is only appropriate when buying tchotkes at a street fair or facing off against a used-car dealer. But why not negotiate the cost of medical procedures? Or a new Sub-Zero refrigerator? If you're not paying less than sticker price for these and other goods and services, you're leaving money -- and often lots of it -- on the table. "Everything is negotiable," says Stuart Diamond, adjunct professor of law at the University of Pennsylvania's Wharton School of Business and author of "Getting More: How to Negotiate to Achieve Your Goals in the Real World." "All you have to do is ask."

With that philosophy in mind, follow these tips to negotiate the best possible deal on 6 common fees and expenses:  Click Here To See Full Article

8 People You Trust With Your Credit Card, But Shouldn't
by Erica Sandberg
 

It's amazing how often we blindly hand over our credit cards and numbers to so many people and businesses. Why? We trust them! The problem is, however, that sometimes we'd be better off holding back and taking a more discretionary approach. Certain individuals and companies should be off limits. To keep safe, guard your credit, avoid giving the following folks unlimited access to your account.  

                                            Click Here To See Full Article

Credit Card Had A 79.9% APR From First Premier Bank
by Blake Ellis
 

Toni Riss had a credit card with a 79.9% interest rate.

The 58-year-old woman from Texas thought she struck gold when she found the First Premier card, which is aimed specifically at consumers with poor credit.

"I had an accident on a motorcycle, went through bankruptcy to pay for medical expenses and my credit went to hell in a hand basket, so I was looking for credit cards for people with bad credit" Riss said.

They granted her a card with a $300 limit -- typical for new customers -- and a starting rate of 29.9%, which Riss said she considered decent given her credit score.

But about six months after opening the card -- at the end of 2009 -- she received an unwelcome surprise in the mail.

                                          Click Here To See Full Article

How To Make Multigenerational Living Work
by Phillip Moeller
 

Putting three generations under one roof--the most common multigenerational living arrangement--has become a growth industry of the recession and an aging society. Even as the economy slowly recovers, experts expect that more seniors will find themselves in such expanded families. The mortgage crisis and collapse of home values may retard new home formations for years. Rising numbers of older Americans will require caregivers, and will either be unable to afford private care or unable to find professionals who provide it.

Before World War II, about 25 percent of Americans were in multigenerational households. After the war, rising affluence and a mobile society led to a steady decline. "In 2008, an estimated 49 million Americans, or 16 percent of the total U.S. population, lived in a family household that contained at least two adult generations or a grandparent and at least one other generation," the Pew Research Center reported in a study last year. "In 1980, this figure was just 28 million, or 12 percent of the population." In 2008 alone, 2.6 million Americans became part of multigenerational households.

                                            Click Here To See Full Article

Online Dating Is Not Just For Kids, Seniors Say
by Kristina Cook
 

Jo Ann Montrose-Eichelberger, 55, never thought she would meet her second husband on an online dating site -- especially not one for seniors.

The stewardess who lives in California said she signed up "as a joke" in March 2009. She had been divorced for about 18 years and was content being single, but an ad for the site sparked her curiosity.

At first she felt uncomfortable about even putting up her photograph.

"It felt like I was marketing myself. It was all new to me. At the time, I hadn't even gone on Facebook," she said.

The number of seniors -- classified as anyone over 55 -- using the targeted dating site is growing, according to SeniorPeopleMeet.com, which says they attract 1,000 new members a day.

                                          Click Here To See Full Article

Telephone Equipment Distribution Program (TED)

This program provides assistive telephone
equipment at NO CHARGE to individuals who
have difficulty using a regular telephone due to a hearing loss, speech, or physical disability. 
Click Here For More Information.

New FHA Reverse Mortgage Program Gives
More Flexibility To Senior Homestead

Traditionally Reverse Mortgages have given Seniors age 62 and older the ability to convert a portion of their home's equity into tax-free funds.  The amount of funds they can qualify for is based on their age, the property's value, and current interest rates.

Recent changes in the FHA Reverse Mortgage Program have enabled Senior homebuyers age 62 and older to purchase a new primary residence and obtain a reverse mortgage in simultaneous transactions with no monthly mortgage payments.  It works by allowing the Senior to combine reverse mortgages with a down payment from their current home sale or other assets to purchase a new home.  It now gives the Senior an opportunity to purchase a new primary residence without taking on new mortgage payments.  They may want to downsize or "right size" for their particular needs -- single level living, move to a Senior Community, or move closer to family and friends.

Example of how the program works:

A woman, 74 years old, wants to move closer to her children.  She sells her older home for $200,000.  With the reverse mortgage for purchase, she was able to buy a $300,000 single level condo by putting $123,000 down and the reverse mortgage for purchase provided the additional funds she needed.

She was able to move to a place more suitable for her needs and closer to her children.  She will never make a mortgage payment and she also has $77,000 in cash left from the sale of her previous home to help her financially in the future. 

Contact a Reverse Mortgage Specialist or FHA for more information regarding stipulations and requirements for the program.

         Click Here To Find a Reverse Mortgage Specialist Near You

Extension & Expansion of Home Buyer Tax Credit
submitted by Mark Vedder, Tomorrow's Real Estate, Inc. - 651-433-2937

The latest tax credit that's been mentioned in the news as of late is the Home Buyer's Tax Credit which has now been extended into the Spring of 2010. 

Below are links to the guidelines and questions and answers to the latest tax credit extension that Congress has enacted.  It will allow not only first time buyers, but move up buyers to get a credit to buy homes that seniors may want to sell.

This credit can also be available to seniors who have lived in their home for at least 5 consecutive years of the past 8. This may make them eligible for a new $6,500 credit for them if they sell and buy a downsized home or townhome.

FAQ:  Home Buyer Tax Credit Changes

Home Buyer Tax Credit Changes
 

High Medical Bills? Don’t Fret, They ARE Negotiable!
by Brenda Darr, Minnesota Seniors Online Staff Member
 

So you had to go to the hospital for emergency surgery and you had no health insurance.

You just got the bill and the sticker shock got the best of you. Now you’re worried about losing everything you’ve ever worked for, your savings, your home, your possessions…well, in this economy, that’s a very valid worry. Everyone is struggling to make ends meet.

Stop! There is good news! Like everything else in this world, medical bills are negotiable!

You can negotiate the fees that the hospital, doctors, labs, radiology, etc. charge. They typically charge full price but in Minnesota there are laws in place where you can negotiate for the same fee that the insurance companies pay them. You have to be proactive and call the appropriate billing departments and negotiate the fees and work out a payment plan that works for you.

Also, many times there are billing errors. Review all of your bills when you receive them. One time, my then boyfriend had an accident and had to go to the emergency room to get his finger stitched up. They brought out a tray with all the necessary tools, but the doctor bumped it, and it all dropped on the floor. They had to bring out another one. When he got the bill, they charged him for both trays. I saw that on the bill and told him to call them to have one of the charges removed since he technically did not receive the items on that tray because it fell on the floor. (Once the tray fell on the floor these items were no longer sterile and could not be used.)  He called the billing department and told them about the dropped tray and they removed the charge for one of them. It was a $150 savings!

Medical providers will negotiate with you. They know that it’s in their best interest to do so. They would rather get something, than nothing at all.

If you find negotiating the bills yourself to be too much for you or you don’t feel you can negotiate a better deal, you can utilize the services of a Medical Bill Negotiator. What they do is they will negotiate your bills for you. How they get paid is a percentage of the savings they get for you.

For example, you have a $1000 hospital bill.  They negotiate it down to $700. They saved you $300. Their percentage is 35% of $300, which makes their fee $105. So in the grand scheme of things, you only owe $805 on a $1000 hospital bill. You saved $195!


Related Articles:
More About Negotiating Your Medical Bills
Other Tips For Coping With Your Medical Bills

Medicare Chief Says Health Law Working
 

WASHINGTON (Reuters) – President Barack Obama's chief of health programs for the elderly and poor on Thursday said the year-old U.S. healthcare overhaul was helping millions of Americans and called a push by congressional Republicans to repeal the law unfortunate.

Medicare and Medicaid services administrator Donald Berwick, appearing before a congressional panel, defended the embattled healthcare overhaul, saying it was helping keep Medicare premiums and cost-sharing lower and it was helping shore up finances of the health program for the elderly. 

                                      Click Here To See Full Article

Age Is Just A Number -
A Humorous Look At Ways To Stay Young
By Brenda Darr, Minnesota Seniors Online Staff Member
 

I am newly divorced after being married for a little over 16 years. At age 44, this is a serious life change for me. Through this loss, I’ve felt all the emotions -- everything from grief to happiness, guilt to sadness, helplessness to depression.

I’ve looked in the mirror as I’ve gone through each of these stages. I can’t believe how my looks have changed with each stage I’ve gone through. I’ve gotten grayer, I have dark circles under my eyes, my eyes are darker, and I feel more achy and "old." Usually my 15 year old daughter is the first one to tell me about the gray hairs (gotta love their honesty!) but not this time. She’s been instrumental with helping me through all of this. She’s been right there to fill me with positive thoughts and let me know that I have something to offer. I couldn't ask for a better cheerleader!

I know I’m not the only one going through life changes. They happen to everyone at different times in their life. In my healing process, I’ve employed some tips that I’d like to share with you. These tips can actually help you FEEL young!

I’ve written these in a manner that’s firm, yet humorous. I’ve actually posted them on my wall. With the pain and depression of my current life changes, I’ve had to be firm with myself. Sometimes we just need to give ourselves the kick in the butt that we need to get on with our life. Try any of these tips and trust me, you’ll feel different…even younger!

1. Who cares how old you are, how much you weigh, or how tall or short you are? Medical professionals are the only ones who really care about those kinds of numbers anyway…let them deal with them.

2. Surround yourself with positive people. Negativity breeds negativity. Who wants negative people around anyway?

3. Try to learn something new every day. Pick a subject and find out more about it. Take a class, read a book, find online articles about it, etc.

4. Take a time out to smell the roses. You know, they smell pretty darn sweet!

5. Laugh hard and smile every chance you get. This gives your facial muscles some really positive exercise and you’ll have 6 pack abs before you know it!

6. Tears are a part of life. Shed them, mourn the loss, but don’t forget to pick yourself back up! Life is too short to spend wallowing in misery.

7. Surround yourself with what and who you love. Your spouse/partner, kids, grandkids, friends, pets, a good book, your favorite dish, plants, your favorite hobby, etc. Your home is your domain…enjoy it!

8. Pay attention to and maintain your health. Take care of yourself. Eat right, see your doctor as needed.

9. Let the guilt go. We all make mistakes in our lives. All we can do is dust ourselves off and move forward. Guilt trips aren’t any fun. Plan a trip to Florida or Hawaii instead.

10. Always tell your loved ones that you love them. Tell them every day. Cherish them. Give thanks for being blessed to have them in your life.

Diet Tips for Healthy Senior Living -- What You Eat Controls It All!
by Catherine Spencer, Yahoo! Contributor Network
 

Seniors need to make an effort to eat nutritiously every day. Eating a healthy senior diet will help you feel your best. What you eat controls it all! Here are some tips for eating a healthy senior diet:  Click Here For Full Article

Health Care Overhaul
Important Medicare Changes Are Here
By David A. Fahrenthold, Washington Post
January 1, 2011

• New rules take effect today on premiums, "doughnut hole."

The new year will bring important changes to U.S. health-insurance rules, as new provisions related to last year's massive health-care overhaul take effect.

The new rules are designed to help those caught in Medicare's "doughnut hole," offer seniors more preventative care, and limit how much of their customers' money health-insurance companies can keep for overhead and profit.  They all go into effect on Saturday.

These provisions were not affected by a Dec. 13 federal court ruling in Virginia that declared another piece of the new health-care law - the requirement that all Americans buy health insurance - unconstitutional.  The judge allowed implementation of the overhaul to continue until a higher court rules on the issue.

The new rules include:  Click Here To Read Full Article
 

Health Care Reform: Considerations For Seniors
submitted by:  William Lehnertz, TLC Financial, 952-948-1105
 

Enactment of the new health-care reform legislation contains some provisions that directly affect our nation’s older population.  If you are a senior, you may be concerned about how these reforms may affect your access to health care and the benefits you are currently receiving.

Medicare spending cuts

Not surprisingly, the concerns of retirees and seniors generally center on potential cuts in Medicare benefits.  At the outset, the new legislation does not affect Medicare's guaranteed benefits.  However, a goal of the new health-care legislation is to slow the increasing cost of Medicare premiums paid by beneficiaries, and to ensure that Medicare will not run out of funds. To help achieve these goals, cuts in Medicare spending will occur over a ten-year period, beginning in 2011, particularly targeting Medicare Advantage programs––Medicare programs provided through private insurers but subsidized by the federal government.  These cuts could reduce or eliminate some of the extra benefits Medicare Advantage plans may offer, such as dental or vision care, and some insurers may choose to increase premiums. But Medicare Advantage plans cannot reduce primary Medicare benefits, nor can they impose deductibles and co-payments that are greater than what is allowed under the traditional Medicare program for comparable benefits. And, some of the federal funds previously earmarked for Medicare will be reallocated to doctors and surgeons as an incentive to treat Medicare patients.

Medicare Part D drug program changes

Some Medicare Part D beneficiaries are surprised to find that they have to pay for the entire cost of prescription drugs out-of-pocket after reaching a gap in their annual coverage, referred to as the "donut hole."  Currently, if you're a Medicare Part D beneficiary, you may pay up to an additional $3,610, out-of-pocket, for medicines after reaching an initial threshold of $2,830 in total prescription drug costs (including Part D payments  beneficiary co-pays, and deductibles.)  But, beginning in 2010, beneficiaries who fall in the donut hole will receive a $250 rebate, and, in 2011, they will receive a 50% discount on brand-name drugs.  By 2020, a combination of federal subsidies and a reduction in co-payments will completely eliminate the donut hole.  However, individuals with annual incomes greater than $85,000, and couples with incomes exceeding $170,000, will see their Part D premiums increase as the federal subsidy offsetting some of the cost of Medicare Part D premiums is reduced.

Benefits added to Medicare

The legislation also improves some traditional Medicare benefits. For example, Medicare beneficiaries will receive free wellness and preventive care beginning in 2011.

Increased access to home-based care

Often, people with disabilities or illnesses would rather receive care at home instead of at a hospital or nursing home.  The new health-care reform law provides for programs and incentives for greater access to in-home care. The Community Living Assistance Services and Support program (CLASS) will be established sometime after 2011 (depending on when final regulations are published) as a voluntary insurance program, financed through payroll deductions and available to all working adults who choose to participate.  This national program allows participants with functional limitations to maintain their personal and financial independence and live in the community by providing a cash benefit of at least $50 per day (after a five-year vesting period) for nonmedical services, such as home-care services, family caregiver support, and adult day-care or residential-care services.  In order to qualify, a participant must need help with at least two activities of daily living, such as eating, toileting, transferring, bathing, dressing, or continence.

Also in 2011, the Community First Choice Option will be available to states to add to their Medicaid programs.  This option will provide benefits to Medicaid-eligible individuals for community-based care instead of placement in a nursing home.  In addition, the State Balancing Incentive Program, to be established in 2011, will provide increased federal funds to qualifying states that offer Medicaid benefits to disabled individuals seeking long-term care services at home, or in the community, instead of in a nursing home.  The Independence at Home demonstration program, available in 2012, will be a test program that provides Medicare beneficiaries with chronic conditions the opportunity to receive primary care services at home.  That is intended to reduce costs associated with emergency room visits and hospital readmissions, and generally improve the efficiency of care.

Ideas To Cut Health Care Costs In This Economy
submitted by Peggy Davies, Mid-America Events & Expos, 612-798-7256

What's the best way to cut your healthcare costs in these scary economic times?  Don't Get Sick!

If you think a trip to the grocery store takes a big chunk out of the family budget, consider the costs of getting sick.  From co-pays that cost more than a tank of gas to deductibles and out-of-pocket expenses that can exceed a mortgage payment, even getting the flu can be expensive.  Health care costs in an already troubled economy are providing many Minnesotans with more incentive than ever to find new ways to take better care of themselves.

Each year, thousands of Minnesotans attend the original Body Mind Life Expo at the Minneapolis Convention Center for ideas about staying healthy.  This year, most will be looking for ways to do so on a budget.

As the largest health and natural products consumer event in the Midwest, this expo is the ideal place to find experts who can provide mainstream and holistic advice on nutrition, physical fitness, disease prevention, as well as emotional and spiritual well-being.  This year's expo, to be held February 27 & 28, 2010, is expected to attract even more people eager to learn tips that will help them avoid spending time in a doctor's office.

Prevention is the modern mantra.  The gloomy economy has not dimmed nutritional supplement sales.  The changing lifestyle and growing senior population is making space for the nutritional supplement industry to grow.  Americans spend more money than any other country on nutritional supplements, and are credited with having the greatest health awareness.  According to Natural Products Insider, specific demand for functional foods and beverages benefitting digestive and immune health, as well as cardiovascular health, is on an upswing.

People also are looking for new ways to cope with the stress in their lives.  Renowned spiritual teacher and author, Leonard Jacobson will present two free seminars at the expo to help people learn how to live in the present and achieve a deeper level of peace.

Over the years, the Body Mind Life Expo has become a trusted clearinghouse for health-related information.  Those watching their pennies appreciate the fact that admission always includes free back-to-back seminars on everything from proper exercise techniques, weight management, anti-aging tips, to the latest use of therapeutic essential oils and other fact-based ideas for taking control of your health.

People also spend quality time exploring local resources including holistic services, environmentally-friendly products, stress-free vacation ideas, workshops and classes, counseling and motivational centers, clinics, acupuncture/bodywork services, and more.

Benefitting underserved women and their families touched by breast cancer.  Mid-America Events & Expos, producers of the Body Mind Life Expo, is donating 50% of all ticket sales from its 2010 expos to Hope Chest For Breast Cancer, who will be given a booth at each show.

Visit www.101expos.com for more information or call 612-798-7256.  Admission is $3 with the half price coupon on the website and FREE to kids 17 and under when accompanied by an adult.   

Hearing Aid Tax Credit Bill Reintroduced In Congress

The tax credit has been reintroduced in the House and will shortly be reintroduced in the Senate. With healthcare reform on the horizon, there has been no better time to make your voice heard in support of these bills. Please help us make the hearing aid tax credit a reality once and for all!

The legislation would provide a tax credit up to $1000 for two hearing aids for dependents and adults 55+; the Senate is considering a bill which would cover all age groups. One in four households in America has at least one person with a hearing loss and 2/3 cannot afford hearing healthcare.

Make your voice heard again at www.hearingaidtaxcredit.org to help make hearing aids more affordable for you, your family, and your friends. Communicate with your Representative and Senators with the click of a mouse; it only takes 3-4 minutes to send your letter to Washington.

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The Best Places To Retire Outside The U.S.

Blood Clots and Stroke - Quick Info That Can Save A Life

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