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26 Apr 2015

INSURANCE AGENT/COMPANY ABUSE OF ANNUITY SALES

Annuities are complex financial products with widely varying fees, costs and features and many brokers/salespersons target the elderly which CAN BECOME A form of elder abuse. 

WHAT TO WATCH OUT FOR:

  • "Guaranteed" annuities, they are a scam!

  • Inaccessible funds.

  • "Surrender charges", fees for withdrawing money before the maturity date.

  • High "introductory" or "teaser" rates of return, usually good for only 1 year

  • Unnecessary Replacement Policies.

  • ANNUITIES THAT ARE NOT ACTUARIAL.

  • ANNUITIES THAT FAR EXCEED ELDER'S LIFE EXPECTANCY.

  • ANNUITIES THAT ARE SOLD TO SENIORS TO QUALIFY FOR MEDI-

    CAL WHEN THEY WOULD ALREADY QUALIFY FOR MEDI-CAL.

  • ANNUITIES THAT ARE SOLD TO A PURCHASER WHOSE ASSETS

    ARE EQUAL TO OR LESS THAN THE COMMUNITY SPOUSE RESOURCE ALLOWANCE .

    LOOK AT CA INSURANCE CODE 789.9 FOR FURTHER DETAIL ON THIS ISSUE BEFORE YOU CRAFT THE FINAL VERSION OF THIS.

    ALSO LOOK AT

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24 Apr 2015

A Nursing Home Stay Can Be Temporary

by Eleanor Laise

EDITOR'S NOTE: This article was originally published in the June 2012 issue of Kiplinger's Retirement Report. 

Many people view the move to a nursing home as a one-way trip. But new government initiatives, combined with nursing homes' shifting business models, are encouraging more seniors to return home. Unfortunately, not all round trips are voluntary: Nursing homes are forcing out some residents.

Under federal rules implemented in 2010, all nursing-home residents are asked every few months whether they want to talk to someone about returning to the community. If a resident is interested, nursing homes must help the senior get more information on a potential move.

 

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22 Apr 2015

Telephone (Service Fee) Billing Scam Targets Elderly

A SCAM WE HEAR OF FAR TOO OFTEN. CON ARTISTS STEALING SOMEONE'S IDEA THE IDEA AND SCAMMING THEM OUT OF THOUSANDS. NICKY EXPLAINS HOW THEY'RE ABLE TO DO IT BY SIMPLY MAKING A PHONE CALL. SHE WILL POSE HERSELF AS EITHER A UTILITY COMPANY OR TELEPHONE COMPANY, WIRELESS COMPANY AND SHE'LL TELL THE ELDERLY VICTIM THAT, HEY, YOU HAVE A NOMINAL FEE OF $4.50 YOU OWE, IN ORDER FOR YOUR SERVICE NOT TO GET TURNED OFF, YOU GOT TO PAY IT. THEN THEY TAKE THE CREDIT CARD INFORMATION. TRIES TO USE SOCIAL ENGINEERING TO OBTAIN OTHER PERSONAL INFORMATION, WHETHER IT BE DATE OF BIRTH, SOCIAL SECURITY NUMBER, OTHER TYPES OF THINGS. ONCE SHE GETS THAT INFORMATION, THE IDENTITY THIEF CALLS THE VICTIM'S CREDIT CARD COMPANY. SHE ADDS HERSELF ON AS AN AUTHORIZED USER. SHE CHANGES THE BILLING ADDRESS AND HAS A SECOND CARD MAILED TO HER. AND THEN FROM THERE SHE'LL GO OUT AND MAKE FRAUDULENT PURCHASES UNDER THAT PERSON'S CREDIT CARD. A SUSPECT RUNNING A SCAM LIKE THIS ONE CONNED MORE THAN 70 VICTIMS OUT OF THOUSANDS OF DOLLARS. SHE'S MADE OVER 100,000 DOING THIS SCAM IN THE MATTER OF A COUPLE YEARS. NO REASON TO GO OUT AND WORK WHEN YOU CAN MAKE THAT KIND OF MONEY JUST TALKING ON THE PHONE. THE SUSPECT'S STRATEGY LED TO THE LARGE NUMBER OF VICTIMS. THE REASON BEING IS MOST PEOPLE ARE MORE LIKELY TO SAY OH, OKAY, I'LL GO AHEAD AND PAY THAT RIGHT NOW, I HAVE $4.25 ON MY BANK CARD. IT'S MORE WILLING TO SAY I WANT TO DO THAT RIGHT NOW. THE BEST ADVICE. IF YOU RECEIVE A CALL FROM SOMEONE ASKING FOR YOUR CREDIT CARD NUMBER. HANG UP AND CALL THEM BACK. A COMPANY IS NOT JUST GOING TO CALL YOU AND SAY, HEY, WE NEED TO -- WE'RE GOING TO SHUT YOUR SERVICE OUT TODAY WITHOUT YOU PRIOR KNOWING THAT ALREADY, NOT BEING LATE ON A BILL. POSTTHE TEAL INSPECTORS WANT TO REMIND ALL CONSUME OTHERS CHECK THEIR MONTHLY CREDIT CARD STATEMENTS OR CHECK YOUR ACCOUNTS MORE OFTEN ONLINE WHICH WILL ALLOW YOU TO IDENTIFY ANY DISCREPANCIES RIGHT AWAY.

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17 Apr 2015

Neglect and Abandonment (Two Forms of Elder Abuse Explained)

Neglect

Neglect is defined as the refusal or failure to fulfill any part of a person's obligations or duties to an elder. Neglect may also include failure of a person who has fiduciary responsibilities to provide care for an elder (e.g., pay for necessary home care services) or the failure on the part of an in-home service provider to provide necessary care.

Neglect typically means the refusal or failure to provide an elderly person with such life necessities as food, water, clothing, shelter, personal hygiene, medicine, comfort, personal safety, and other essentials included in an implied or agreed-upon responsibility to an elder.

Signs and symptoms of neglect include but are not limited to:

  • dehydration, malnutrition, untreated bed sores, and poor personal hygiene;
  • unattended or untreated health problems;
  • hazardous or unsafe living condition/arrangements (e.g., improper wiring, no heat, or no running water);
  • unsanitary and unclean living conditions (e.g. dirt, fleas, lice on person, soiled bedding, fecal/urine smell, inadequate clothing); and
  • an elder's report of being mistreated.
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15 Apr 2015

10 Things Assisted-Living Homes Won't Tell You By Jim Rendon

Moving to a residential-care facility is difficult enough -- even before you account for the hidden fees, untrained caretakers and misleading marketing.

1. We're a short-term solution.

Since 1981, when assisted-living homes first made their debut as a sort of midpoint between home and a nursing home, they've only grown in popularity. Meanwhile, as the number of facilities and residents served has ballooned, so has the diversity of needs. Some homes cater to those who have trouble cooking or doing their own laundry; others, to those with dementia, loss of mobility and even more serious issues. But government regulations that could help protect families with a loved one in an assisted-living facility who is suffering from a chronic or degenerative illness are still few and far between.

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13 Apr 2015

An Age for Justice: Confronting Elder Abuse in America (Video Presentation)

An Age for Justice; Elder Abuse in America, a video produced by the Elder Justice Now campaign, shows the families and individuals whose lives have been turned upside down by elder abuse. The video provides stark proof of the financial, emotional, and phsycial and psychological impact of the violence and abuse that an estimated five million Americans face every day. We hear from Vicki Bastion, 92, who installed a security gate inside her home to protect herself and what valuables she had left from her grandson and his gang‐related friends; Betty Beckles talks about her daughter beating her; Bob Lee tells us about his father, who was victimized by a paid caregiver causes depression that contributed to his death; and Pat Smith tells us about her husband, who has Alzheimers disease and was victimized financially by a young woman in Las Vegas who walked with $750,000. The video was produced by the National Council on Aging and WITNESS, to shine the light on what one interviewee called a dark mark on our humanity.

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11 Apr 2015

New system monitors pressure ulcers

Illinois-based Bridgemark Healthcare becomes the first skilled nursing provider in the nation to change its safety protocols by adopting the Leaf Patient Monitoring System to reduce pressure ulcers.

Bridgemark, which operates 10 long-term care facilities and four short-term rehabilitation centers, joins Chino Valley Medical Center in California and the Boise Veterans Administration Medical Center in Idaho, who adopted the system for acute care earlier this year.

The system uses a lightweight, wearable sensor that electronically monitors positions and movements, then sends that data wirelessly to a central monitoring station or mobile device. Alerts notify caregivers when to turn residents/patients in accordance with prescribed turning schedules.

"Pressure ulcers are a serious threat to both our short- and long-term care patients," said Bridgemark President Steve Miller in a press release. "[The] leading-edge technology optimizes our medical staff’s efforts to protect both our short-stay guests and our facility residents.”

 
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9 Apr 2015

A difficult lesson in hiring a caregiver for mom

My friend's phone call numbed me.

Twice in the last week, she said, she'd seen my mother sitting in a car in a neighborhood near her home. "Today she was there for more than two hours in the heat," she added.

My stomach churned.

Mom suffered from dementia; she could no longer drive, or even speak coherently most of the time. She hadn't gotten to the area my friend was talking about on her own.

It had to be Ann, her caregiver, who had been "taking her to the park" almost daily. The next day I skipped work and followed. When she parked in front of a house, I waited 20 minutes and then went to the door. Ann's boyfriend appeared when I rang the bell.

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7 Apr 2015

Why Elder Financial Abuse Is Such A Slippery Crime

Two recent studies on elder financial abuse  caught my eye — one suggesting the problem is far bigger than we think and the other suggesting it’s much smaller.

I’m a little skeptical of both, and will explain why momentarily.

But I’m also happy to say that I’ve just learned about a few government and private initiatives starting to seriously attack the scourge of financial exploitation of older Americans — considered the most prevalent form of elder abuse.

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2 Apr 2015

Countdown to World Elder Abuse Awareness Day Starts April 6, 2015

World Elder Abuse Awareness Day (WEAAD) is recognized annually on or around the 15th of June. Since its inception in 2006, communities throughout the country and around the world have used this day to raise the visibility of elder abuse by sharing information about abuse, neglect, and exploitation in later life and promoting the resources and services that work to increase victim safety and improve offender accountability. Beginning April 6, The National Center on Elder Abuse (NCEA) will be hosting a “10 Week Countdown to WEAAD 2015!” The countdown will take place on NCEA’s Facebook and Twitter sites and will lead to the main event, World Elder Abuse Awareness Day, June 15, 2015. Each week will focus on a specific theme based on the Elder Justice Roadmap Project. Throughout each week, the NCEA will share a blog post from an expert in the field as well as notable research, education, policy and practice efforts pertaining to that week’s topic. Additionally, every Friday will feature a Twitter Chat using the hashtag #WEAADweekly. These chats will feature special guests and will engage participants in a lively discussion of the weekly topic.

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