For the past decade, the Congressional Budget Office (CBO) has projected lower 75-year deficits than the Social Security trustees. That relationship has now reversed, with CBO projecting a larger 75-year shortfall. One reason for the reversal is that CBO has switched from relying on the Social Security actuaries’ mortality assumptions and have come up with their own. The question is whether this is an earth-shattering development or another data point. Both the CBO and the trustees present almost an identical picture of Social Security relative to the economy. Social Security costs as a percent of GDP are scheduled to rise…
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In the U.S. there are approximately 62 million unpaid Family Caregivers. In a recent AARP report, if it wasn’t for these unpaid family caregivers, this country would be in even more dire straits. These family caregivers increasingly, middle-aged offspring taking care of their elderly parents – provided $450 billion worth of unpaid home care in 2009, states AARP. That’s more than the total Medicaid spending that year or more than Wal-Mart Inc.’s total sales in 2009. It’s also 20 percent higher than unpaid home care totals for two years earlier. “If the family caregiver were no longer available, we’d see…
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This phase lasts from the day you retire until you are 70 years old. For those who do not plan to retire until well into their 70s, the first two tasks of this phase may occur later. A key purpose of this phase is to create a clear communication channel with your family so information can be shared, questions asked and answered, and decisions made in a calm, supportive way. If inter-generational communication around money has not been part of your family culture, it may be useful to enlist the help of a third party to get the process going….
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To be eligible for hospice a physician must certify the patient to be terminally ill with a life expectancy of six months or less and treatment for a cure is no longer provided. The focus for the patient has changed to supportive care and quality of remaining life. Hospice is paid for by private insurance, Medicare or Medicaid Hospice Benefit or personal funds. Here are the conditions that apply for Medicare Hospice Benefits: You are eligible for Medicare Part A (Hospital Insurance) Your doctor and the hospice medical director certify that you’re terminally ill and have 6 months or less…
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Frederick, MD 
301-663-9230
