Although 2024 Medicare premiums are seeing an increase, there are nevertheless a few bright spots. Starting on January 1, 2024, Medicare enrollees may be pleased to hear about several positive changes taking place.

Even if you have a long-term care insurance policy, you may likely be hoping that you won’t ever have reason to use it. Regardless of what the future holds, there’s one silver lining of which you may not be aware. That is, premiums on many long-term care insurance policies are in fact tax-deductible.

Recently proposed legislation seeks to offer financial relief for unpaid family caregivers. Introduced in November 2023, the Lowering Costs for Caregivers Act of 2023 is the result of a bipartisan effort to lessen the costs of family caregiving.

Each fall, the Centers for Medicare & Medicaid Services (CMS) renews the federal guidelines that seek to protect individuals whose spouses are applying for or receiving Medicaid long-term care benefits.

Social Security wasn’t meant to be a primary source of income for retirees when it was first created in 1935. It sought to provide an umbrella of protection for people who couldn’t save enough for retirement. 

An independent living facility is a housing arrangement that caters to older people, usually aged 55 and older. Some people may refer to these facilities as 55-and-over communities, active adult communities, or retirement communities.

For older adults experiencing hearing difficulties, over-the-counter hearing aids could improve quality of life, preserve social connectedness, and prevent cognitive decline.

Most seniors want to be able to stay at home as long as they can instead of moving into a nursing home. The PACE program provides care and services to some nursing home-eligible seniors to enable them to remain in their home longer.

A part of long-term care planning can include finding the right nursing home facility for yourself or your loved one. When you are searching for the right nursing home, you may find yourself sifting through piles of paperwork, and in that mountain of documents can be an arbitration agreement.

If you need a lot of cash on hand upon retirement, Social Security offers a lump-sum payment option that’s worth six months of retroactive benefits. However, it comes at a cost. It is important to understand the details before agreeing to the payment.