NewRetirement Retirement News Digest : Healthcare

The importance of long term healthcare

jberman — Fri, 20 Nov 2009 10:18:00 GMT

KGO News, November 18th, 2009

Can you afford NOT to have long term care? The long term care crisis and its impact on your family's future financial security.

Long term care crisis:

The cost of long term care can severely impact your family's future financial security. Requiring care in any setting is not a topic many of us want to talk about, for obvious reasons. But the fact is, 40 percent of Americans who need long term care are working age adults 18-64 - and this care comes with a very steep price tag.

For example, according to recent data from Genworth Financial the national average cost for one year of home care is more than $42,000.

According to Dr. Dychtwald's research, the biggest financial worry among the 55-and-older population is covering uninsured medical expenses during retirement.

Dychtwald adds that today people are living longer than ever before and this longevity revolution is creating an unprecedented "age wave." However, living longer creates a greater possibility of health issues along the way and the burden of care giving usually falls to the closest relative.

The key steps needed to secure financial peace of mind:

There are three things that the average individual ought to be thinking about when it comes to long-term care in terms of next steps.

Talk to your family members, this shouldn't be some sort of secret or something that people aren't comfortable discussing. You know it's... it's a fact of life in this more lived era.
Talk to a financial professional and that could be an insurance agent, a broker, an accountant, a lawyer, maybe you got a brother-in-law or a cousin who's in the business, talk to them about long-term care.
Don't just leave it vague and in the mist, write it down, take steps, make a plan and then execute against that plan.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Covering the Bases: Understanding the options if you're new to Medicare

jberman — Tue, 17 Nov 2009 10:35:00 GMT

Annapolis Capital, November 15th, 2009

Q: I am new to Medicare. I have my Medicare Part A and Part B. I elected a Medigap plan to complement my Medicare A and B. However, I am not on any medicines and so do not see the advantage for enrolling in Medicare Part D. What are the advantages of having Part D?

A: Insurance is a contradiction. You pay good money for something you hope you never need. We pay homeowner's insurance and hope we never have a fire. We pay auto insurance and hope we never have a car accident. Health insurance is the same. We pay our premiums and hope we never are in need of a doctor or a hospital.

The same is true of Medicare Part D. Many people are not taking any prescriptions. However, it is advisable they consider Part D. Many people are aware that if they delay in enrolling in Medicare Part D they will incur a penalty if they enroll at a later date.

However, the more concerning scenario are the "healthy" people who forgo Medicare Part D and then have an unfortunate, unexpected illness. The most poignant illustration is a "healthy" person who is newly diagnosed with an illness such as cancer, diabetes and/or heart disease. The medical treatment of such illness can be extremely expensive. By having prescription insurance, you are protecting yourself if you need high-cost medicines.

Q: I am new to the area. I have original Medicare and Medigap supplemental insurance. I have already contacted Medicare to change my Part D to a Maryland plan. My question is, how do I find a doctor in this area?

A: Medicare has a wonderful database of providers. You may call 800-MEDICARE and they can assist you with finding a doctor. You may also log on to www.medicare.gov and click on "Find a Provider in Your Area." This tool allows you to search by location and by specialty.

Q: My mother was admitted to a rehabilitation facility after her hospitalization for her broken hip. She remained there for 35 days. I was told her Medicare Part A covered up to 100 days of rehab. However she received a bill for $2,002.50 for days 21 through 35. Why?

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Studies: Some nursing home elderly get futile care

jberman — Wed, 11 Nov 2009 02:39:00 GMT

Associated Press, October 14th, 2009

A surprising number of frail, elderly Americans in nursing homes are suffering from futile care at the end of their lives, two new federally funded studies reveal.

One found that putting nursing home residents with failing kidneys on dialysis didn't improve their quality of life and may even push them into further decline. The other showed many with advanced dementia will die within six months and perhaps should have hospice care instead of aggressive treatment.

Medical experts say the new research emphasizes the need for doctors, caregivers and families to consider making the feeble elderly who are near death comfortable rather than treating them as if a cure were possible — more like the palliative care given to terminally ill cancer patients.

"We probably need to be offering a palliative care option to many more patients to make the last days of their lives as comfortable as possible," said Dr. Mark Zeidel of the Beth Israel Deaconess Medical Center in Boston, who was not involved in the studies.

Palliative care focuses on managing symptoms of a disease and a main goal is to relieve pain at the end of life.

End-of-life care became a divisive issue in the national health care reform debate this summer after one proposal included Medicare reimbursement for doctors who consult with patients on end-of-life counseling. Critics called the counseling "death panels" and a step toward euthanasia. The Obama administration denied those claims, yet has signaled the Medicare benefit will be dropped.

The new studies are published in Thursday's New England Journal of Medicine.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Seniors get new health options

jberman — Tue, 10 Nov 2009 10:25:00 GMT

Detroit Free Press, November 9th, 2009

Seniors looking to buy supplemental Medicare policies may have to do more work to learn about them. They often aren't widely advertised by leading insurers.

But several companies new to the business hope to capitalize on complaints that the state's leading insurer, Blue Cross Blue Shield of Michigan, doesn't widely advertise its money-losing Medigap policies.

"We have real customer service with low wait times," said Joan Budden, chief marketing officer for Priority Health, which has new supplemental Medicare, or Medigap, plans.

Aetna and Blue Care Network, a Blue Cross subsidiary, also have new Medigap plans for 2010.

Medicare supplemental plans are policies that help pay for doctor visits and medical services not typically covered by basic Medicare Part A and B coverage.

Their appeal is that they usually have no co-pays, and they pay for care in broader areas of a state or in another state where a person may live part of the year.

Medigap policies "are good for people who are frail and who have high medical needs," said Jennifer Houghton, a Medicare specialist with the Area Agency on Aging 1B in Southfield.

Insurers take on Blue Cross

George Williston considered buying a Blue Cross Blue Shield of Michigan supplemental Medicare policy. But he had such trouble finding information about the plans on the company's Web site that he decided to keep looking.

"I consider it a disgrace for a nonprofit organization," said Williston, 82, of Hastings, a retired nonprofit executive.

This year, Williston and other seniors will have more choices as insurers introduce new Medigap products to compete with Blue Cross, which is seeking a 36.7% rate hike to offset mounting losses selling the Medicare product.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

65 and Up and Looking for Work

jberman — Wed, 04 Nov 2009 10:31:00 GMT

The New York Times, October 24th, 2009

It is well known that during the nation’s gale-force recession, many older Americans who dreamed of retirement continued to work, often because their 401(k)’s had plunged in value.

In fact, there are more Americans 65 and older in the job market today than at any time in history, 6.6 million, compared with 4.1 million in 2001.

Less well known, though, is that nearly half a million workers 65 and older want to work but cannot find a job — more than five times the level early this decade and this group’s highest unemployment level since the Great Depression.

The situation is made more dire because of numerous recent trends: many people over 65 have lost their jobs as seniority protections have weakened, and like most other Americans, a higher percentage of them took on debt than in previous generations.

The expectation once was to pay off your 30-year mortgage before you retired, or come close. Instead, the level of indebtedness among older Americans has risen faster than in any other age group, partly because so many obtained second mortgages to take money out of their homes.

This financial squeeze is one reason President Obama has proposed giving a special $250 one-time payment to all Social Security recipients.

Many out-of-work older Americans complain that they face foreclosure or have had to give up their car.

“It’s a big deal for a lot of these people not to find a job,” said David Certner, legislative policy director for AARP. “That so many of them are still trying to find work shows how bad the economic situation is. A lot of people normally give up at that age.”

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Choosing a Policy to Cover What Medicare Doesn’t

jberman — Wed, 04 Nov 2009 10:18:00 GMT

The New York Times, October 14th, 2009

PEOPLE over 65 should buy a Medigap policy, consumer advocates say, but picking a Medigap plan can be difficult, and at least one important health care bill heading for a vote in the Senate could make it even harder.

The plans, which are sold by private insurers, are supposed to help fill the considerable gaps that deductibles and co-payments leave, the difference between what Medicare enrollees receive from the government and what they owe doctors and hospitals. Medigap offerings come in a dozen different varieties, labeled Plans A to L.

Choosing a plan is particularly tricky for consumers because monthly premiums for identical coverage can vary by hundreds of dollars from one company to another. Rates also vary by area of the country and age of the enrollee, and in many cases by gender. Still, the advantages of the coverage, for everyone who can afford it, make the hard work of shopping around a good investment.

Why buy a Medigap policy when you turn 65 and become Medicare-eligible, even if you don’t expect to need it for years? A reason, of course, is that people cannot anticipate what might befall them. Consumer advocates also point out that under some state laws, those who delay end up paying higher monthly rates or being rejected for health reasons.

Adding complexity to the calculation is the possibility that Congress may cut back on the current 100 percent coverage of medical bills for people who wait to buy their first Medigap policy. The Senate Finance Committee, looking ahead to 2015, is calling for new co-pays for doctors’ visits under Medigap. If the provision is adopted, new purchasers might be charged $5 for a visit to a primary care doctor and $15 or $20 for a specialist, committee aides say. The change is intended to discourage medically unjustified visits.

Darlene Mastro, who had retired early, said she “couldn’t wait” to be 65 and eligible for Medicare. But when she telephoned the local offices of several companies to ask about Medigap insurance, she was disappointed by the response.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Seniors should be wary of healthcare pitches

jberman — Wed, 28 Oct 2009 01:27:00 GMT

Los Angeles Times, October 27th, 2009

Senior citizens should be on their guard against possible fraud when open enrollment for two popular healthcare programs begins Nov. 15.

California Insurance Commissioner Steve Poizner warns that some sales agents for the Medicare Advantage and Medicare Prescription Drug programs may engage in "aggressive or deceptive" sales practices starting from now until open enrollment ends Dec. 31.

To better protect themselves, consumers should consider these tips:

- Make sure the salesperson is a licensed insurance agent.

- Do not respond to "cold calls," which are prohibited by law.

- Don't give out personal information such as Social Security or Medicare numbers.

- Do not accept "free lunches," which are not allowed.

- Don't buy any additional insurance-related products.

- Read and understand the health insurance plan.

- Call the California Department of Insurance with questions or complaints at (800) 927-HELP (4357) or Medicare at (800) MEDICARE (633-4227) with questions or complaints.

For more information, consumers should visit www.insurance.ca.gov or www.medicare.gov.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Big Jump Seen In Health Costs For Employees

jberman — Thu, 15 Oct 2009 08:20:00 GMT

The Wall Street Journal, October 14th, 2009

As companies begin unveiling their workplace benefits for next year, many employees are learning they will have to dig even deeper into their pockets for health coverage.

Such price increases have become a fact of life during open-enrollment season, when workers sign up for their health plans. But the jump is expected to be steeper in 2010 than this year, as employers struggle with the impact of the recession and continually rising insurance costs. Employees will pay $4,023 on average in premiums and out-of-pocket charges next year, up 10% from 2009, according to a projection from Hewitt Associates, a benefits-consulting firm. In dollar terms, it's the biggest boost since the firm started keeping track of the data a decade ago.

For workers, that will mean larger payroll deductions, as well as spending more on co-payments and other fees tied to care. Companies also are expected to prod more employees into cheaper coverage by getting them to sign up for high-deductible health plans. And many employers are trying to rein in the expense of covering workers' families, sometimes by making insurance for kids and spouses pricier.

As a sweetener, some companies are offering new benefits, such as life insurance and long-term-care insurance, that employees can opt to buy for themselves. But workers need to look closely at such offers, because some people may be able to purchase these benefits more cheaply on their own.

Workers like Katha Rogers are already feeling the pinch. Ms. Rogers, 46, is a customer-service representative for Burton Metal Finishing Inc., a small family-owned company in Columbus, Ohio. She and other employees started paying sharply increased premium contributions this July. The firm had to ask them to chip in more because its health-insurance costs have been going up 10% to 20% a year, while the economic downturn hit its revenues, says co-owner Victoria Burton.

Ms. Rogers and her husband, who also works at Burton Metal Finishing, now pay $120 a month combined, up from nothing two years ago. They also face bigger co-payments and deductibles. Partly because of that, the family is trying to save money, including not taking any vacation trips. They've also canceled some doctor visits to avoid the new $50 co-pay. "You have to decide where you're going to cut next," says Ms. Rogers. Still, she says, she's grateful to have coverage in this difficult economy.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Medicare Advantage at a disadvantage in health debate

jberman — Sat, 10 Oct 2009 09:59:00 GMT

Market Watch, October 8th, 2009

Senate Finance Committee Chairman Max Baucus promises that the huge health-care reform bill his committee will vote on next week will protect Medicare benefits for seniors. But not everyone agrees, and a fight is brewing as lawmakers prepare to take the legislation to the floors of the House and Senate.

At issue is Medicare Advantage, a popular federal government-subsidized program that allows seniors to choose health plans run by insurance companies. Currently about 10 million people - close to a quarter of the 45 million seniors getting Medicare - have signed up for Medicare Advantage.

Members typically get all their Medicare-covered health care through the plans, and the coverage can include prescription drug benefits. There are generally lower co-payments than in regular Medicare -- although enrollees may have to pay a monthly premium to get the extra benefits. Read more from Medicare.gov.

But proposed cuts to the Medicare Advantage program have health insurers and some seniors worried, and at least one amendment to the finance panel's overhaul bill seeks to cushion the blow as money for private plans faces the chopping block. Whether the amendment, offered by Sen. Bill Nelson, D-Fla., makes it into a final bill is now an open question. House legislation also proposes cuts to the program.

A vote on the Senate Finance Committee's bill is set for Tuesday, Senate Majority Leader Harry Reid, D-Nev., said Thursday. The measure costs $829 billion over 10 years, reduces the deficit by $81 billion and covers 94% of Americans. See full story.

President Barack Obama and congressional Democrats want to cut as much as $500 billion from Medicare over the next 10 years to help pay for insuring more Americans.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Medicare cuts need not hurt seniors

jberman — Sat, 03 Oct 2009 09:28:00 GMT

Baltimore Sun, October 1st, 2009

All of the health care reform plans propose serious cuts in the Medicare program. Seniors' concerns about those cuts jeopardize passage of any plan.

The Medicare prescription drug benefit is expected to cost $395 billion over the next 10 years. But the law prohibits Medicare from negotiating drug prices. Consequently, Medicare must pay whatever the drug manufacturers charge. This subsidy is really a tax on us.

The essence of government procurement is competitive bidding, where contracts are awarded to the lowest responsible bidder. The Department of Veterans Affairs, which buys drugs for veterans through competitive bidding, sets a precedent. Medicare should be allowed to buy drugs through competitive bidding also.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Insurers Drop Some Medicare Plans As Rules Tighten

jberman — Sat, 03 Oct 2009 09:24:00 GMT

The Wall Street Journal, October 1st, 2009

More than 660,000 seniors next year will lose the private Medicare plans they now have because some insurers are dropping coverage in response to tougher federal requirements.

Most of those beneficiaries are enrolled in a type of Medicare Advantage plan called Private Fee for Service, where enrollment has surged from about 820,000 three years ago to more than 2.44 million today. PFFS enrollees, unlike those under other Medicare Advantage plans, can see any doctor they like as long as he or she accepts payments through their plan. Medicare Advantage plans are subsidized by the federal government and run by insurance companies; most operate with networks of providers.

Congress, alarmed by the high cost of PFFS plans, voted in 2008 to require the plans to establish networks of providers beginning in 2011. Companies such as Humana Inc., which has established networks that can cover at least 80% of PFFS enrollees, are doing just that.

But Medicare officials acknowledged Thursday that others are pulling out. Plans with a total enrollment of 667,000 people are scheduled to be canceled next year, they said.

WellCare Health Plans Inc., for example, is canceling its PFFS plans for about 110,000 enrollees. Spokeswoman Amy Knapp said the company saw expanding networks to meet the new requirements as an unwise investment. The company, she said, will focus on its HMO and prescription-drug plans.

UnitedHealth Group Inc. is no longer offering PFFS plans to some 2% of its members in markets where no other UnitedHealth Medicare Advantage plan is available.

According to the Centers for Medicare and Medicaid Services, the federal agency that manages Medicare, beneficiaries can choose other private plans or go back to traditional Medicare. The agency said 99% of beneficiaries have access to at least one Advantage plan offered in their area.

Medicare announced Thursday that the premiums for Medicare Advantage plans are rising to an average of $39 a month from $32 a month this year. Premiums for standalone drug plans will be $30 a month on average, up $2 from this year.

The changes are adding fodder to the health-care debate. President Barack Obama and Democrats in Congress have proposed more than $100 billion in payment cuts to private Medicare plans over 10 years to help pay for expanding coverage to the uninsured. They argue that the private insurers are overpaid -- Advantage plans cost the government 14% more on average per beneficiary than traditional Medicare -- and the cuts will help control Medicare costs.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com.

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator.

Retirement Living TV Premieres 'Not Fade Away' September 21st to Honor World Alzheimer's Day

jberman — Thu, 17 Sep 2009 02:56:00 GMT

Reuters, September 16th, 2009

As the baby boom generation moves through
retirement, the number of people affected by Alzheimer's is likely to well
exceed 11 million by 2040.  In recognition of World Alzheimer's Day,
Retirement Living TV (RLTV), the only network dedicated to adults 50+, will
air an exclusive television special, "Not Fade Away" on September 21 at 8PM
(EDT). 

To View the Trailer: http://podcast.rl.tv/21814small.html

Working in partnership with the National Cable & Telecommunications
Association (NCTA) and the Blanchette Rockefeller Neuroscience Institute
(BRNI), RLTV's documentary special features stories from people diagnosed with
the disease and explores its grave impact on the victims and their families,
such as Blanchette Hooker Rockefeller, mother of Senator Jay Rockefeller
(D-WV), who died of complications from Alzheimer's in 1992.  Never before has
a documentary sought to unveil "what it feels like" to have the disease.
Equally important, this original program from RLTV uncovers some of the latest
findings in the search for answers and a cure. Highlights include the
groundbreaking work underway at BRNI.  Scientists there believe they have
discovered a biomarker for early detection of Alzheimer's and are especially
excited about a test drug that appears to have the remarkable power to not
only treat damaged neurons but regenerate growth. 

"I applaud such a strong commitment by RLTV and the cable industry to help
raise awareness of Alzheimer's disease," said Senator Rockefeller.  "Not Fade
Away reminds all of us of the devastation that this disease inflicts on
millions of people each day and the families who must provide long-term care
the people they love.  Of special importance, the program also instills great
hope by highlighting BRNI's research - that I'm very proud will one day find a
cure.  This research makes it clear that we can do something to prevent the
loss of cognitive functioning later in life and that one day lost memories
will be found again."

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator.

Automatic Cuts Could Help Push Past a Health Hurdle

jberman — Sat, 12 Sep 2009 04:25:00 GMT

The New York Times, September 10th, 2009

President Obama’s new call to impose automatic spending cuts if the health care overhaul adds “one dime” to federal budget deficits could help push his top domestic priority over one of the biggest hurdles in its path through Congress.

But once in law, such automatic triggers have not proved effective as a way to reduce federal spending. In the past, Congress and the White House have simply overridden or ignored them. This time, advocates insist, would be different.

In his prime-time address on Wednesday to a joint session of Congress, Mr. Obama restated his only line in the sand for a health care bill: He will not sign any measure that “adds one dime to the deficit, now or in the future, period.” But for the first time he asked Congress to mandate that future Congresses and presidents “come forward with more spending cuts if the savings we promised don’t materialize.”

While the White House does not have a specific method in mind, health economists have suggested that one such trigger could be a limit on Medicare payments to doctors and hospitals.

With such a requirement written into legislation, precedents suggest that the nonpartisan Congressional Budget Office would be likely to conclude that the bill would not add to annual deficits, despite the poor track record for triggers.

And a finding of deficit neutrality from the budget office, which “scores” costs and savings over a 10-year period, is crucial to passing a health care bill.

Already the budget office’s analyses of overhaul bills adopted by several House and Senate committees, which found that the measures would add to federal deficits, have stymied the bills’ progress. And the budget office’s preliminary findings about the still-unfinished work of the fifth and last Congressional panel necessary to act, the Senate Finance Committee, has contributed to a summer of delays there.

But a deficit trigger like Mr. Obama now proposes ultimately could bridge a fiscal gap.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Experiencing Life, Briefly, Inside a Nursing Home

jberman — Tue, 25 Aug 2009 00:59:00 GMT

The New York Times, August 23rd, 2009

For 10 days in June, Kristen Murphy chose to live somewhere she and many others fear: a nursing home.

Ms. Murphy, who is in perfect health, had to learn the best way to navigate a wheelchair around her small room, endure the humiliation that comes with being helped in the bathroom, try to sleep through night checks and become attuned to the emotions of her fellow residents.

And Ms. Murphy, 38, had to explain to friends, family and fellow patients why she was there.

Ms. Murphy, a medical student at the University of New England in Biddeford, Me., who is interested in geriatric medicine, came to New York for a novel program that allowed her to experience life as a nursing home patient.

Students are given a “diagnosis” of an ailment and expected to live as someone with the condition does. They keep a daily journal chronicling their experiences and, in most cases, debunking their preconceived notions.

The program started in 2005 after a student approached Dr. Marilyn Gugliucci, the director of geriatrics education at the medical school. “ ‘Dr. G,’ ” she recalled the student saying, “ ‘I would like to learn how to speak with institutionalized elders.’ What came out of my mouth was, ‘Will you live in a nursing home for two weeks?’ ”

To Dr. Gugliucci’s surprise, she found nursing homes in the region that were willing to participate and students who were willing to volunteer. No money is exchanged between the school and nursing homes, and the homes agree to treat students like regular patients.

“My motivation is really to have somebody from the inside tell us what it’s like to be a resident,” said Rita Morgan, administrator of the Sarah Neuman Center for Healthcare and Rehabilitation here, one of the four campuses of Jewish Home Lifecare.

“But she is really there to study herself, her own feelings about living in a nursing home,” Ms. Morgan added, referring to Ms. Murphy.

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator

Health Care’s Generation Gap

jberman — Tue, 18 Aug 2009 00:58:00 GMT

The New York Times, August 16th, 2009

IN the 1980s, I worked as a respiratory therapist in intensive-care units in the Midwest, taking care of elderly, dying patients on ventilators. I remember marveling, along with the young doctors and nurses I worked with, over how many millions of dollars were spent performing insanely expensive procedures, scans and tests on patients who would never regain consciousness or leave the hospital.

When the insurance ran out, or Medicare stopped paying, patients and their families gave the hospital liens on their homes to pay for this care. Families spent their entire savings so Grandma could make yet another trip to the surgical suite on the slim-to-none chance that bypass surgery, a thoracotomy, an endoscopy or kidney dialysis might get her off the ventilator and out of the hospital in time for her 88th birthday.

That was back in the mid-’80s, when the nation was spending around 8 percent of its gross domestic product on health care. I and other health care workers solemnly agreed that the spending spree could not continue. Taxpayers and insurance companies would eventually revolt and refuse to pay for such end-of-life care. Somebody would surely expose the ruse for what it was: an enormous transfer of wealth based on the pretense that getting old and dying is a medical emergency requiring high-tech intensive-care intervention and armies of specialists, which could cost $10,000 or more per day. (Europeans have so far resisted this delusion, one reason they spend much less than we do on health care, with far better results.)

But we were wrong. Health care spending has since doubled, to around 16 percent of our gross domestic product, and in the next 25 years or so is projected to reach 31 percent of G.D.P. Despite having those figures in hand, Congress might still pass legislation calling for spending more, not less, on health care, even though we’ve been told for decades that what we spend has almost nothing to do with the quality of care we receive.

In fact, expensive care is often worse care, because it snowballs into what some are calling an “epidemic of overtreatment,” in which unnecessary procedures, tests and medications all spawn more tests, more meds (to treat the side effects of the first batch) and more follow-up scans and procedures (in stand-alone clinics owned by the same doctors prescribing the tests, scans and procedures).

Read more of this article.

About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com

Professional Financial Advisors: Find out what a financial advisor can do for you at NewRetirement.com.

NewRetirement Retirement Calculator: Assess your retirement plan with the NewRetirement Retirement Calculator