What Medicare Doesn’t Cover

Many seniors make the mistake of thinking that Medicare covers all reasonably foreseeable medical procedures.

Not true.

Here are some likely areas of necessary health care which Medicare does not pay for:

-   Advanced cataract surgery (no modern laser treatment, only covers if removal is by scalpel)

-  No dental work (unless covered under a Medicare Advantage plan)

-  Long-term care. People with serious dementia (unsafe to live on own) are covered for medical problems, not the cost of care in a nursing home or facility. Expensive insurance or Medicaid (with very restrictive eligibility requirements) are your only options, besides self-funding.

Estate Planning – Fight the Urge to Procrastinate!

It’s understandable that people procrastinate when it comes to getting a Last Will and Testament and other estate planning documents like powers of attorney. Who wants to think of “end of life” concerns.

Interestingly, the fact that a person has lots of assets apparently has little to do with a person’s motivation to take care of such matters.

Last year a survey of very wealthy people revealed that almost 50% of such multi-millionaires had no will!

The consequences of such inactivity can be very damaging indeed. Unnecessary estate taxes, squandered inheritances with children unprepared to deal with sudden wealth and failure to provide for deserving others.

It is simple negligence to “put off” what you know needs – and should – be done. Not being “very wealthy” is no excuse.

When Is Memory Loss a Serious Problem?

We are all forgetful at times, and certainly the frequency seems to increase as we age. But memory lapses aren’t necessarily a symptom of dementia.

As a matter of fact, many, many people function quite well with mild dementia. The concern is that the condition is not static and will only worsen (although some meds may slow the decline – e.g., Aricept). The tipping point is when forgetfulness endangers the person. Not remembering the name of an old friend may be embarrassing but the lapse is not important, nor is forgetting where one left the keys. But holding the car keys in the hand and not knowing that they are necessary to start the vehicle is another matter, as is going shopping and forgetting how to get home.

That is the time to get help.