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.

What Makes a Will Valid?

A will, more formally known as a Last Will and Testament, is required (in Maryland) to be in writing and signed by the maker as well as two witnesses. A notary public is not required to sign the will, but it doesn’t hurt. A warning, however: a professionally prepared will would have what is known as an “attestation clause” which is a recitation of language that the witnesses were present when the will was signed by the maker and confirm that the maker knew what he was doing when he signed the will. If this is missing, it may be necessary for the witnesses to be found and present proof that the maker of the will did, indeed, know what he was doing.

Anxiety Medicine Can Increase the Risk of Alzheimer’s

Insomnia and anxiety are common conditions among the general population but particularly with the elderly. But if you have a history of Alzheimer’s in your family, please be aware that anxiety-reducing drugs such as Xanax and Valium can increase your risk of getting the disease.

Such drugs, known as benzodiazepines, have long been used in the treatment of early dementia symptoms of which anxiety is certainly one. However, a recent study provided evidence that the use of such medication may cause or hasten the onset of Alzheimer’s. So be sure to discuss any relevant family history with a doctor if a physician desires to prescribe such medication for you.

Protecting Elders from Financial Exploitation

In a perfect world, people would not take advantage of vulnerable, elderly individuals. But, of course, that’s not the real world.

Accordingly, here are some tips on protecting those who need it.

 ·         Provide access to only one account. It is highly recommended that the vulnerable person have direct access to only one checking account. This limits exposure on checks written to charities or criminals.

 ·         On-line bill pay for monthly bills. Do automatic bill pay for routine bills. That helps with account surveillance.

·         Caution them about email scams. Educate about phishing scams. Advise against opening email or links from unknown senders. Set up regular and automatic computer anti-virus and malware scans.

·         Decrease opportunities for unwanted solicitations. To avoid telemarketing calls, add all phone numbers to the National Do Not Call Registry. Advise the vulnerable person to never give out credit card or Social Security numbers over the phone. To reduce mail solicitations, including “free” credit offers, unsubscribe at www.optoutprescreen.com. 

Help Your Brain – Eat Fish!

Alzheimer’s is an increasing threat as we age, particularly for those of us with a family history.  But, research studies increasingly suggest that omega-3 fatty acids (oils found in salmon and tuna, for instance) can ward off or slow the advance of dementia.

Studies also indicate that the oils can reduce the incidence of heart and stroke problems.