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- Silver.buzz - Aug. 24-30, 2024
Silver.buzz - Aug. 24-30, 2024
Weekly 'buzz' on AgeTech, AI for Silvers, Estate Planning & Finance, Housing, LTC, Medicare, Social Security & more for Gen 55+
Silver.buzz
August 30, 2024
Silver.buzz - Aug. 24-30, 2024
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AgeTech, Silver Tech & SilverAI âbuzzâ
Investors and Providers Must Transform AgeTech Market from Products into Suites - It's past time for the AgeTech market to catch up to population change. One sentence about the numbers should suffice. Today there are 24 million people aged 75 or older. Only 1.5 million live in nursing homes and only 800,000 live in assisted living. The majority of the 75+ live at home, supposedly âaging in placeâ, with nearly half of the women living alone. (AOL)
AgeTech Platform WisdomCircle Targets $65 Trillion Senior Economy with UK and Europe Expansion - WisdomCircle, an AgeTech platform that connects retired professionals with meaningful work opportunities, has announced its expansion into the UK and European markets. WisdomCircleâs Founder and CEO, Neeraj Sagar, expressed excitement about the expansion: âAs we enter the UK and European markets, we are thrilled to bring our vision of redefining retirement to a global stage. (Plunge Daily)
In Case You Missed These Recent ArticlesâŚ
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.
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 expandedâŚ
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 healthâŚ
Estate Planning & Finance âbuzzâ
Why the First Step in Your Estate Planning Process Shouldnât be Crafting a Will - if families don't prepare, it could take months or even years for beneficiaries to actually, well, benefit from their inheritances. The reason for this is probate, which is the court-supervised process by which a deceased person's assets are distributed and their debts are settled. The average time it takes to complete probate is 20 months, according to a recent report from Trust & Will, a digital estate planning platform. (Y! Finance)
Don't Be aâŚ. The Importance of Proactive Tax & Estate Planning - Learn the consequences of neglecting tax and estate planning. (The Street)
In Case You Missed These Recent ArticlesâŚ
Dividing assets in your will can split siblings. Hereâs how. (Washington Post) - To potential heirs, I often give this advice: You arenât entitled to other peopleâs money, even your parentsâ assetsâŚ
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 whatâs coming as we approach the electionâŚ
Put Rover in Your Estate Plan. Heâll 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 thereâs no guarantee that the..
Housing Trends for Silvers / Gen 55+
Northeast Projects Announces Completion of Energy-Efficient Senior Housing in Yonkers, NY - Northeast Projects, a leading building energy and Passive House consultancy, is proud to announce the successful completion of the La Mora Senior Apartments in Yonkers, NY marking a significant milestone in affordable housing, providing 60 fully affordable apartments for seniors while setting new standards in energy efficiency and sustainable design.
In Case You Missed These Recent ArticlesâŚ
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,âŚ
Towns canât 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 representingâŚ
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 seniorsâŚ
Long Island Senior Housing Project Lands $50M (Multi-Housing News) - Currently under construction, the property will also include affordable unitsâŚ
Long-term Care âbuzzâ
Cost of Senior Care: Why Aging Farmers Fear the Nursing Home - Robert Moore, an attorney and researcher at Ohio State Universityâs Agricultural & Resource Law Program. called long-term care needs one of the biggest threats today to small family farms. He said farmers go to great lengths and years of planning to protect their land in their golden years. But with soaring costs and an aging boomer population, he expects the problem to only grow. (NPR)
Wisconsinâs Long-Term Care Crisis: Staffing Troubles, Low Medicaid Rates Prompt Closures (WI Watch)
WA Snapshot: Devoted Volunteers Check On Those In Long-Term Care, But There Aren't Enough Of Them (Inlander)
In Case You Missed These Recent ArticlesâŚ
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 disabilitiesâŚ
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 optionsâŚ
Medicare âbuzzâ
Humana Cutting Medicare Advantage Plans that Cover 10% of Its Members - Humana, the countryâs second largest Medicare Advantage insurer, is aggressively culling its plan offerings after several quarters of spending more than expected on its membersâ medical care, and getting hammered on Wall Street for it. The company will scrap Medicare Advantage plans in 2025 that currently cover about 560,000 members. (Stat News)
Changes to Medicare Are Coming in 2025: Here's What to Expect - 2025 will bring a rise in premiums, along with a new cap on medication costs. (CNET)
In Case You Missed These Recent ArticlesâŚ
Insurers Pocketed $50 Billion From Medicare for Diseases Not Doctor Treated (Questionable diagnoses of HIV and other maladies triggered extra Medicare Advantage payments; âItâs anatomically impossibleâ) (WSJ) - Excerpt: Private insurers involved in the governmentâs Medicare Advantage program made hundreds of thousands of questionable diagnoses that triggered extra taxpayer-funded payments from 2018 to 2021âŚ
Annual Assessment and New Investigation Highlight High Medicare Advantage Overpayment (Medicare Rights Org) - In its annual data book on âHealth Care Spending and the Medicare Program,â the Medicare Payment Advisory Commission (MedPAC) shows significant Medicare Advantage (MA) overpayment... Read the Wall Street Journal investigative report.
Medicare announces lower prices on 10 common drugs: Whatâs included and what they will cost (AL.com) - Drugmakers are lowering prices of 10 of the costliest drugs under Medicare, the agency announced last weekâŚ
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 plansâŚ
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 plansâŚ
Retirement âbuzzâ
Op-ed: A âretirement disconnectâ has Swept across Multiple Generations of Americans - The rising cost of living, stagnant wages, and lackluster savings are giving workers a reason to be doubtful that the traditional idea of retirement will be achievable in their lifetimes. (CNBC)
Retirement Planning in 2024: Alternative Investments Needed - With recent market volatility and rising inflation, the classic 60/40 stock-bond portfolio is proving inadequate for modern retirees. New strategies are needed. (The Street)
In Case You Missed These Recent ArticlesâŚ
The 3 biggest 401(k) mistakes that can derail your retirement, according to investment researchers (CNBC) - Bad news first: Across the U.S., Morningstarâs model predicts about 45% of households will run short⌠Morningstar researchers identified 3 problem behaviors.
Social Security Administration Reduces Signature Requirements to Streamline Services - The Social Security Administration is allowing the submission of digital signatures instead of physical ones for commonly used forms and removing signature requirements altogether for others as part of a broader effort to reduce customer burden and simplify the application process.
Social Security Crisis: Beneficiaries face 21% Benefit Cut without Reforms, says CFRB - Based on the average Social Security benefit of $1,907 a month in January 2024, a 21% cut would reduce that amount by $400 (Fox)
You Could Lose Your Social Security Benefits if You Do One of These Four Things - Social Security benefits aren't guaranteed, and you can lose (or diminish) them if you do one of these four things. (CNET)
In Case You Missed These Recent ArticlesâŚ
Thereâs a Good Case for Waiting to Claim Social Security. Most Recipients Arenât Interested. (Barrons) - Nearly half of workers plan to claim Social Security before theyâre eligible for full benefits, a new survey finds. Some 43% of respondents said they planned to file for benefits before ageâŚ
Retirement expert says there's one way Social Security can be saved without hiking taxes or cutting benefits (Yahoo!) - âIs it really possible that we can fix this massive program thatâs quickly running out of money â and fix it without raising taxes or cutting benefits? Well, Iâm here to tell you itâs possible,â said Devin Carroll, a retirement expert, in a YouTube video shared earlier this year.
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Social Security âbuzzâ