Long-Term Care Costs and Rising Healthcare Costs Top the ListAs baby boomers approach retirement, many may find themselves in different economic circumstances than what they planned for. Recent economic events have taught us the downside of risk, yet careful planning can help soften the impact. Northwestern Mutual says that your retirement plan can stay on track if you focus on these six key risks.Health Care Risk. Rising medical and prescription drug costs, fewer employer-sponsored retiree benefits and limitations of Medicare are all impacting income and retirement savings. According to Medicare.gov, estimated health care costs for a 65-year-old range from $3,000 for someone in excellent health to $10,000 for someone in poor health, including premiums, deductibles and co-pays but not including long-term care, vision or dental expenses.Inflation and Taxes: With inflation reducing purchasing power and taxes impacting liquidation strategies, less money will be available to spend or invest in retirement planning.Longevity Risk: Americans are living longer and the possibility exists that they could outlive their resources. There is a 10 percent chance that a 65-year old male will live to 97 years of age and a 1 percent chance the same male will live to 105 years of age.Legacy Risk: Many Americans want to leave a legacy, making an impact beyond their lifetime by leaving a financial gift to a loved one or a charity. It is necessary to balance this desire with the need to fund an individuals retirement.-More-Six Risks to be Prepared for in Retirement Pg. 2Long-term Care Risk: The cost of care for an unexpected event, or long-term illness not covered by private insurance or Medicare is requiring more Americans to prematurely deplete their assets. A 2009 LIMRA (Life Insurance Marketing and Research Association) survey of pre-retirees and retirees aged 55 to 75 found that health care and long-term care expenses together account for between 12 and 15 percent of retirement expenses, depending on the household income[1].Market Risk: Participating in the stock market can give an individuals retirement savings and income the potential to keep pace with inflation, however, volatility in investment markets can significantly affect retirement income and savings.Article prepared by Northwestern Mutual with the cooperation of Bruce Mozinski. Bruce Mozinski is based in Southborough, MA. To contact Bruce Mozinski, please call (508) 251-7223, e-mail at bruce.mozinski@nm.com, or visit brucemozinski.com.[1] Retirement Income Trade-offs, Implications for Product Development, LIMRA, 2009

In Massachusetts, as mandated by the Federal government, if you die with a probate estate (assets in your own name), and have received MassHealth benefits at any time after age 55, or at any time during your life if you end up in a nursing home, MassHealth can recover the benefits paid from your estate. Two recent developments and a proposed law are important to know. In the last few years, the use of Senior Care Option and PACE programs, which provide complete health care to elders in need, began expanding. While these can be great programs, what wasnt known is that MassHealth, who pays premiums to private companies that provide these programs, will seek estate recovery for these premiums (as much as $3000 per month), after the death of the MassHealth recipient. This could mean a substantial lien against the home or other assets of a MassHealth recipient. Once this became clear, Elder Law attorneys went to Court and obtained a ruling that MassHealth can only collect these premiums if they give Notice to beneficiaries in advance. You may have received such a notice if you are receiving or have received MassHealth benefits. At the same time as this was going on, Elder Law attorneys and advocates put a bill together and filed it with the Massachusetts legislature to make changes to Estate Recovery laws to make it fairer and limit Estate Recovery to only those things the Federal government mandates. This bill is pending. As a result of both advocacy and the filing of the Estate Recovery bill, MassHealth made revisions to their own regulations this last fall. These revisions expand exemptions to avoid Estate Recovery (no estate under $25,000 is subject to Estate Recovery, Caretakers), and deferments to collection of Estate Recovery (spouses, deaf and disabled children). If you or a loved one need or are receiving MassHealth benefits, you may want to consult an Elder Law Attorney to see how these changes in Estate Recovery may affect you.   This article was submitted by Estate and Elderlaw Attorney Timothy R. Loff, Esq. of the Law Offices of Timothy R. Loff, Newton, 617-332-7021 or information@lofflaw.com. 

Inpatient RehabilitationFacility vs. Short-term Rehabilitation Facility You have just gone through an illness (stroke, brain injury, amputation, prolonged hospital stay, etc.) now what?  You are not ready to go home, where should you go?  The hospital service isrecommending rehabilitation, but which type and where?  There are two different types of facilities that you reside/stay while you get your rehab: inpatient rehabilitation facility (IRF) and short-term rehabilitation facility.  What is the difference? Inpatient Rehabilitation Facility Short Term rehabilitation -       Hospital level of rehabilitation -       24/7 in-house physician care -       24/7 nursing care -       Intensive therapies: regulated by CMS o   Individualized therapy session o   At least 3 hours/dayx6-7 days a week -       Shorter stay: average stay is 14 days -       Nursing car level of rehabilitation -       Physicians available but not always in-house -       24/7 nursing care -       Less intensive therapies: o   30min-a few hours, a few times a week (this varies among facilities)-       Longer stay: average stay is 20-30 days  Your medical team has determined you qualify for IRF level of rehabilitation.  Where should you go?  VA Boston Healthcare System (BHS) has an accredited IRF just for Veterans, regardless of service connection located at the West Roxbury Campus. Our physicians trained at some of the best rehabilitation medicine facilities in the country.  They are board certified in rehabilitation medicine and brain injury medicine.  Our therapy staff also trained at some of the best facilities in Boston and have advance certifications.  Our nursing staff are caring, loving, and Veteran centered too.  What separates BHS IRF from community IRF?-       We are Veteran centered-       We can provide equipment that other community facilities may not be able to -       A sense of comradery with other Veterans can help with improvement in mood and function -       We understand PTSD and other mood changes and can offer on-site services -       We provided outpatient follow-up after discharge from IRF to assess, manage and treat issues that may interfere with your function and/or quality of lifeHow do I contact BHS IRF?-       Please have your case manager in the hospital call Boston Healthcare System Flow center and request referral to BHS inpatient rehabilitation program: 857-203-3835-      The rehabilitation physician will review your medical record and provide a decision to your medical team            This article was submitted by Dr. XinLi, Medical Director of Inpatient Rehabilitation Facility at West Roxbury VA, Boston Healthcare System. Information Contact:  David Hencke, US Dept of Veterans Affairs, Directors Office, VA Boston Healthcare System  Veterans Outreach Coordinator  O: 857-364-5934; C: 617-275-6101  David.hencke@va.gov 

Selecting the ideal home care agency for you or a loved one can seem like an overwhelming task, considering the growing number of options available today. To help make this decision a bit more manageable, consider the following tips for finding a home care agency that meets both medical and day-to-day needs:Assess Medical Needs: Determine your or your loved ones specific medical requirements, such as skilled nursing care, medication management, physical therapy, or wound care. This will help narrow down agencies that offer the appropriate level of medical care.Licensed Healthcare Providers: If the need is for in-home medical care, seek agencies that employ licensed healthcare providers like registered nurses or licensed practical nurses. These skilled professionals possess the necessary expertise to handle medical procedures and ensure the utmost health and safety for patients. Ask whether the agency can also offer additional medical services, such as wound care, dementia care, as well as physical, occupational, and speech therapies. By doing so, you can ensure comprehensive, specialized care for a loved one in the comfort of their home. Personal Care Services: In addition to medical needs, some seniors may need assistance with personal care tasks like meal preparation, grooming, laundry, and mobility support. Look for agencies that employ experienced home aides who are trained in providing comprehensive personal care services to meet a range of day-to-day requirements.Verify Certifications and Accreditation: When searching for a home care agency, its important to know that the agency holds the proper licenses, certifications, and accreditation from relevant authorities. This verification guarantees the agency meets required standards for providing medical and personal care services while adhering to strict guidelines. Look for logos of reputable accrediting bodies like the Accreditation Commission for Health Care (ACHC) and, in Massachusetts, the Home Care Alliance (HCA) as signs of the agency's commitment to quality care.Experience and Reputation: Research the agency's background and reputation for providing both medical and personal care services. Check online reviews, testimonials, and ratings from previous clients to find a well-established agency with a positive track record.Clear Communication Channels: Effective communication is essential in any caregiving relationship. Look for an agency that maintains open lines of communication with both clients and their family members to ensure everyone is aware of the care plan.Coordination with Primary Care Provider: A reliable home care agency should be willing to work in coordination with the senior's primary care physician (PCP) for medical care needs. This ensures that the medical care provided aligns with the doctor's recommendations and any prescribed treatments.Emergency Response and Personal Safety: Inquire about the agency's protocols for handling medical emergencies and ensuring personal safety during daily activities. A dependable home care provider should have protocols in place to address urgent medical situations and safeguard the senior's well-being at all times.Regular Monitoring and Evaluation: A good home care agency will continuously assess the effectiveness of their care services, both medical and personal. Regular evaluations help identify areas that may need improvement and ensure the senior's evolving needs are met appropriately.Insurance Coverage Accepted: Be sure to ask about all insurances accepted for treatment upfront, including Medicare. Understanding accepted insurance policies will not only help you plan financially but also ensure that your loved one receives the best possible care within the coverage provided. Don't hesitate to ask agencies about their insurance policies and any potential out-of-pocket expenses to make informed decisions and secure the most appropriate care.To help you choose the right home care agency that offers comprehensive care for you or a loved one, consider these tips and ideas. Additionally, be sure to seek professional advice from either your or your loved one's physician to determine the most suitable care options for your unique home healthcare situation. Were here to help. We welcome the opportunity to provide you with information about Mary Ann Morse Home Care or answer any questions. Contact us at 508-433-4479 and homecare@maryannmorse.org, or visit us at In-Home Care Services in MetroWest | Mary Ann Morse Home Care