Silver.buzz - Aug. 17-23, 2024

Silver.buzz - Aug. 17-23, 2024

Table of Contents

• AgeTech, Silver Tech & SilverAI ‘buzz’

• Estate Planning & Finance ‘buzz’

• Housing Trends for Silvers / Gen 55+

• Long-term Care ‘buzz’

• Medicare ‘buzz’

• Retirement ‘buzz’

• Social Security ‘buzz’

• 👉 Showcase your Company, News or a Press Release

• 🐝 Get more ‘buzz’, on AI, DataCenters & Housing

AgeTech, Silver Tech & SilverAI ‘buzz’

Aging In Place Made Easier With AgeTech (World Health Net) - AgeTech solutions help to meet the needs of an aging population by providing products and services that are designed to make aging easier. ... Aging in place with AgeTech - Technology continues to advance, with AI and loT helping to make them more user-friendly and covering multiple purposes in a single compact and affordable product that is easy to integrate into our lives. AgeTech solutions are vast covering, smart home devices, robotics, digital health, mobility, health tech, education, entertainment, communication, fall prevention, exercise, and much more.

AgeTech Atlanta Continues To Lead The Way In AgeTech Innovation (CityBiz.co) - With a mission to make Atlanta a global hub for AgeTech innovation, AgeTech Atlanta today announced an expanded partnership with Atlanta Tech Village that includes official office space for the organization and rotating scholarships for promising AgeTech founders.

Revolutionizing Senior Health Care with Innovative AI Development (ELBlog.pl) - A team of experts has embarked on a groundbreaking project to utilize cutting-edge AI technology for improving the health and well-being of seniors. By analyzing daily living data, researchers aim to detect subtle changes in health conditions that individuals may overlook, ultimately enhancing opportunities for disease prevention and early treatment.

In Case You Missed These Last Week…

Sensi.AI’s$31M Series B to monitor seniors 24/7

Older Americans prepare themselves for an AI world

Age Tech Startups Improving the Lives of the Elderly

Estate Planning & Finance ‘buzz’

Dividing assets in your will can split siblings. Here’s how. (Washington Post) - To potential heirs, I often give this advice: You aren’t entitled to other people’s money, even your parents’ assets. Equality is sometimes not fair. But for the sake of peace, fairness may mean an equal distribution. ... Ultimately, it’s your money, and you have a right to do with it what you want.

Five Thoughts About the Election From a Financial Planner (Kiplinger, Evan T. Beach, CFP) - Below are five predictions, based on a lot of historical evidence, about what’s coming as we approach the election. (I am fully prepared for this not to age well.). 1. Don’t expect the Federal Reserve to sit on the sideline...

Put Rover in Your Estate Plan. He’ll Be Glad You Did. (Barrons) - Often, arranging care for your favorite furball is as simple as asking a trusted family member or a friend to do it. But there’s no guarantee that the person will honor your wishes, even if you name a guardian in a will and include a stipend for care. The best option is to name a guardian in a trust...

In Case You Missed These Last Week…

“I’m an Estate Planner: 4 Things You Should Never Put in a Living Trust”: Paige Cerulli

Estate planning is crucial for sustaining your financial legacy

Warren Buffett shares details of his will — 2 key lessons you can learn, ‘whatever your wealth level’

Housing Trends for Silvers / Gen 55+

USA Today, Affordable housing statistics: Our 2024 report - A lack of affordable housing can make it harder for prospective homebuyers to purchase a home. Halfway through 2024, tight economic conditions persist, forcing struggling Americans to reconsider their homeownership budgets and moving timelines. In fact, the U.S. Census Bureau found that 42% of people who moved in 2022 did so for housing-related reasons, and 7.7% specifically moved in search of more affordable housing.

Affordable housing for seniors: The population of homeless adults aged 65 and older grew sixfold from 2019 to 2021, according to data from the Joint Center for Housing Studies of Harvard University. From 2016 to 2021, the population of cost-burdened seniors (older adults who spent 30% or more of their income on housing alone) grew by 1.5 million to reach an all-time high of 11.2 million in 2021. With many seniors on fixed income and home prices rising, seniors can find themselves struggling to keep up.

Towns can’t restrict who buys houses in 55+ neighborhoods, N.J. court rules (NJ.com) - The ruling does not impact who can live in age-restricted retirement communities, said Barry Goodman, an attorney representing New Jersey Realtors, the trade association group that filed a lawsuit against Berkeley Township. But, the ruling made last month does prevent communities from restricting what age people must be to own homes in 55+ communities.

New senior housing development rent starts at $300 (St. Pete Catalyst) - Construction has commenced on a long-planned affordable housing development in St. Petersburg, FL that will dedicate homes for seniors and veterans, starting at just 22% of the area’s median income.

Long Island Senior Housing Project Lands $50M (Multi-Housing News) - Currently under construction, the property will also include affordable units.

Long-term Care ‘buzz’

Study Reveals Long-Term Care Insurance Reduces Hospital Costs and Improves Care (First Report Managed Care) - Long-term care insurance can help reduce hospitalization costs and improve care for people with disabilities, according to a new study published in Frontiers in Public Health. -- Researchers analyzed data from the China Health and Retirement Longitudinal Study in 2015 and 2018 to examine how long-term care needs impact hospitalization costs and the role of long-term care insurance. The study, which focused on 11 pilot cities implementing long-term care insurance, provides valuable insights into addressing the challenges of an aging population and rising healthcare costs.

Here's Why Consumers Accept Hikes in Long-Term Care Insurance Rates (Think Advisor) - Consumers may be more willing to accept bad news and stick with their financial strategy if they understand their options and believe that they are in control of the decision-making process tied to long-term care. ... About 28% of survey participants said they would be willing to pay more to hold their LTCI benefits steady, 25% said they would probably accept the reduced benefit offer and 16% said they would cash in their policies.

In Case You Missed These Last Week…

Study shows long-term care costs are older adults’ No. 1 health concern, but expert says no help in sight

Solera CEO: Senior Living Operators Must Embrace New Models to Succeed in Value-Based Care

Medicare ‘buzz’

Insurers Pocketed $50 Billion From Medicare for Diseases Not Doctor Treated (Questionable diagnoses of HIV and other maladies triggered extra Medicare Advantage payments; ‘It’s anatomically impossible’) (WSJ) - Excerpt: Private insurers involved in the government’s Medicare Advantage program made hundreds of thousands of questionable diagnoses that triggered extra taxpayer-funded payments from 2018 to 2021, including outright wrong ones like (____’s), a Wall Street Journal analysis of billions of Medicare records found.

Annual Assessment and New Investigation Highlight High Medicare Advantage Overpayment (Medicare Rights Org) - In its annual data book on “Health Care Spending and the Medicare Program,” the Medicare Payment Advisory Commission (MedPAC) shows significant Medicare Advantage (MA) overpayment. This year, the data book estimates that MA payments are 22% higher than what Medicare would have spent to cover the same group of enrollees in Original Medicare (OM). This estimate builds on previous years’ estimates and includes new data on the health status of MA enrollees. ... Read the Wall Street Journal investigative report.

Medicare announces lower prices on 10 common drugs: What’s included and what they will cost (AL.com) - Drugmakers are lowering prices of 10 of the costliest drugs under Medicare, the agency announced last week. The changes are part of the government’s first-ever negotiations aimed at lowering the price of some of the most expensive and most frequently dispensed drugs under the Medicare program. The medications are used to treat conditions such as heart disease, diabetes, and cancer.

Is there a maximum out-of-pocket (MOOP) cost with Medicare? (Medical News Today) - Medicare puts an annual cap on out-of-pocket expenses for enrollees with Medicare Advantage and Medigap plans. This is the maximum amount a person will have to pay out of pocket that year. Out-of-pocket expenses are the amounts people must pay for care and services when Medicare does not fully cover those services and this amount can change each year. The 2024 out-of-pocket limits for Medicare Advantage plans are as follows: $8,850 for in-network services, or $13,300 for out-of-network and in-network services combined. (As an alternative, Medigap, or Medicare ‘supplement insurance’, is extra insurance that people can buy from private insurance companies and these plans can have low MOOPs.

Medicare Advantage growth could be challenging for hospitals (Healthcare Finance) - The growth poses challenges to providers' credit quality, given growing risks to reimbursement from Medicare Advantage plans.

Retirement ‘buzz’

The 3 biggest 401(k) mistakes that can derail your retirement, according to investment researchers (CNBC) - Bad news first: Across the U.S., Morningstar’s model predicts about 45% of households will run short of money in retirement. Luckily, a few key behaviors are likely to get you among the prepared 55%, with one sticking out in particular: investing in a workplace retirement account. Morningstar researchers identified 3 problem behaviors.

I’m a Retirement Planner: Why You Should Start a Side Gig in Retirement

I’m a Retiree: Here’s How I Made Thousands of Dollars Doing Side Gigs on TaskRabbit

5 High-Paying Side Hustles for Retirees Who Want To Boost Their Retirement Income

In Case You Missed These Last Week…

The Average Retirement Age for Men vs. Women in 2024

LOCAL: Metro Detroit's 65-plus population is growing , The retiree population is booming in San Antonio , 7 States That Will Become Popular Retirement Destinations in 2025

INTL: Best Places to Retire Overseas in 2024, Raising the retirement age won’t solve China’s demographic problem, (but) immigration might

Social Security ‘buzz’

There’s a Good Case for Waiting to Claim Social Security. Most Recipients Aren’t Interested. (Barrons) - Nearly half of workers plan to claim Social Security before they’re eligible for full benefits, a new survey finds. Some 43% of respondents said they planned to file for benefits before age 67, the age for Americans born in 1960 or later to receive full benefits, according to the Schroders SDR 2024 U.S. Retirement Survey. Couples have an additional (considerations). The formula for survivor benefits is more generous than that for spousal benefits—in some cases, a surviving spouse can earn up to 100% of their partner’s benefit...

Retirement expert says there's one way Social Security can be saved without hiking taxes or cutting benefits (Yahoo!) - “Is it really possible that we can fix this massive program that’s quickly running out of money — and fix it without raising taxes or cutting benefits? Well, I’m here to tell you it’s possible,” said Devin Carroll, a retirement expert, in a YouTube video shared earlier this year.

In Case You Missed These Last Week…

Social security cola increase 2025 Modest Increase Amid Ongoing Financial Strain for Seniors

Increasing Social Security Disability Benefit Checks – Here are the current projections 

Hackers may have stolen your Social Security number in a massive breach. Here's what to know.

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