Silver.buzz - Aug. 10-16, 2024

Silver.buzz - Aug. 10-16, 2024

Weekly curated 'buzz' on AgeTech, AI for Silver, Estate Planning & Finance, Housing, LTC, Medicare, Social Security & more for Gen 55+

Table of Contents

• AgeTech, Silver Tech & SilverAI ‘buzz’

• Estate Planning ‘buzz’

• 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’

Sensi.AI grabs $31M Series B from Insight, Zeev to monitor seniors 24/7 (TechCrunch) - Older adults increasingly want to age in their homes rather than nursing facilities. Technology built by Sensi.AI claims to help home care agencies virtually monitor the well-being of the elderly around the clock. Sensi was founded by Romi Gubes in 2019 after she discovered that there was abuse happening in her five-year-old daughter’s childcare facility. She immediately removed her daughter but started thinking about how to prevent similar situations from happening to kids and other vulnerable populations.

Older Americans prepare themselves for an AI world (The Post) - Some older adults — many of whom lived through the advent of refrigeration, the transition from radio to television and the invention of the internet — are grappling with artificial intelligence: taking a class.

Age Tech Startups Improving the Lives of the Elderly (TechRound) - Age tech is increasingly focusing on improving the lives of the elderly by using innovative approaches and technology-driven solutions to address the unique needs and challenges faced by seniors. Startups play a key role in this transformation, dedicating themselves to offering practical solutions that promote independence, safety, and well-being for seniors. These initiatives aim to enhance the quality of life for seniors and promote a more inclusive and supportive society by leveraging technology. Read about ‘10 Startups Improving The Lives Of The Elderly’

Estate Planning ‘buzz’

“I’m an Estate Planner: 4 Things You Should Never Put in a Living Trust”: Paige Cerulli (Yahoo!) - A living trust can be a helpful estate planning tool, and it can help manage assets including your personal home, bank accounts, and investment accounts. But there are certain assets that you should never put in a living trust, or you could face tax implications, difficulty accessing funds you need, and other complications.

Why estate planning is crucial for sustaining your financial legacy (CNBC) - Swati Saxena, Founder & CEO of 4Thoughts Finance, says estate planning is not merely a procedural task but a profound exercise in foresight & governance. "An evolved estate plan is inherently dynamic," she notes.

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

Long-term Care ‘buzz’

Study shows long-term care costs are older adults’ No. 1 health concern, but expert says no help in sight (McKnights Senior Living) - The No. 1 health-related policy concern of older adults in the United States is the cost of long-term care, but a former US congressman and insurance commissioner said there is little political appetite for the kind of changes necessary to tackle this growing problem.

The research, published in JAMA Wednesday morning, asked 2,576 adults aged 50 to 101 years to rank 26 health-related issues, such as prescription drug costs, long-term care costs, social isolation and loneliness, and access to quality care. The costs of long-term care — services in nursing homes, assisted living communities and home care — rated as “very concerning” among 56.3% of participants, making it the top issue.

Solera CEO: Senior Living Operators Must Embrace New Models to Succeed in Value-Based Care (Senior Housing News) - Solera Senior Living CEO Adam Kaplan sees a bright future for senior living operators embracing value-based care, but he believes the industry must evolve care models to maximize those opportunities. In the coming years, Kaplan envisions a care ecosystem that will “ultimately evolve” into a hybrid model of in-community care and virtual care.

Medicare ‘buzz’

Medicare drug price deal: What's next? (NBC News) - The negotiated price cuts won't take effect until 2026, but a $2,000 annual cap on out-of-pocket prescription drug costs begins for all Medicare Part D enrollees next year. Who benefits from lower prices? -- More than 65 million people in the U.S. are enrolled in Medicare. Most people won't see direct savings until the prices go into effect in 2026.

Q&A: Medicare to lower the prices of the 10 most expensive drugs in the U.S. (ABC News) - Question: How much of a discount are we talking about here? HHS (CMS/Medicare): In some cases, the discount from the list price is up to 79%. I think the lowest discount is about 38%. Read full article.

PolitiFact: Donald Trump falsely claims Kamala Harris voted to ‘cut Medicare’ (Statesman) - PolitiFact's ruling: Trump’s statement is wrong both on the hard numbers and his interpretation of what they mean. Despite the government being expected to spend less overall, beneficiaries’ services would not necessarily be cut, as Trump claimed. Most Medicare recipients are likely to see their costs decrease, too, while keeping the same level of benefits. We rate Trump’s claim False.

On the Anniversary of the Inflation Reduction Act: Significant Part D Changes Already in Action, More to Come (Medicare Rights Center)

Retirement ‘buzz’

The Average Retirement Age for Men vs. Women in 2024 (AOL) - Men and women approach retirement differently, live in retirement differently, and have different sources of income. The average retirement age in the United States is 62 for women and 65 for men.

Best Places to Retire Overseas in 2024 (US News) - U.S. retirees who live abroad often look for countries where the cost of living is low, English is spoken and travel home is easy. Popular countries for U.S. retirees are primarily in Europe, Latin America and Southeast Asia.

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

INTL: Raising the retirement age won’t solve China’s demographic problem, (but) immigration might (Macau Daily Times)

Social Security ‘buzz’

Social security cola increase 2025 Modest Increase Amid Ongoing Financial Strain for Seniors (CGNews) - Social security cola increase 2025 : Social security cola increase 2025 As inflation continues to moderate, the projected Cost-of-Living Adjustment (COLA) for Social Security beneficiaries in 2025 is estimated at 2.57%, down from 3.2% this year. This adjustment reflects the latest data from the Consumer Price Index (CPI), which shows a year-over-year inflation rate of 2.9% as of July, the lowest level in over 3 years.

Increasing Social Security Disability Benefit Checks – Here are the current projections (Lagrada) - The recipients of assistance programs are one sector that is particularly susceptible to the consequences of inflation. So Social Security beneficiaries, especially those who qualify for the disability benefits program, receive an annual boost to keep pace with inflation. The SSA uses the cost-of-living adjustment (COLA) to determine how much monthly benefits will increase every year.

Hackers may have stolen your Social Security number in a massive breach. Here's what to know. (CBS News) - A new lawsuit is claiming hackers have gained access to the personal information of "billions of individuals," including their Social Security numbers, current and past addresses and the names of siblings and parents — personal data that could allow fraudsters to infiltrate financial accounts or take out loans in their names.

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