No Leaping — Some Alternatives to Joint Bank Accounts

When looking to manage a loved one’s finances, leave money to a beneficiary or simply monitor an immediate family member’s account, many turn to joint accounts. While they may be easy to use, as described in a recent blog, joint accounts have risks. And there may be better options, depending on your needs. Assisting with Money Management As we all age, there might come a time when we need help with managing our money. In fact, recent research shows that one of …

Look Before You Leap – What You Need to Know Before Opening a Joint Account

Joint bank accounts can be a great convenience for people who share income and expenses — often the case with married couples.  However, joint accounts also can have disadvantages.  It is important for consumers to understand what a joint account is and what it is not, along with all its corresponding liabilities. When it comes to joint bank accounts, you need to ask yourself: is a joint bank account right for me? A joint bank account may not actually be …

Medicare Premiums Expected to Rise Steeply for Some, Stay Unchanged for Most

Most Medicare enrollees can expect to pay the same amount for their Medicare Part B coverage (the portion of Medicare that pays for doctors’ services and outpatient care) in 2016 as they do this year ($104.90), according to estimates from the latest Medicare trustees report. But about 1 in 7 enrollees will face a dramatic increase. Most enrollees will see no change In 2016, about 70 percent of Medicare enrollees will be protected from an increase because of a “hold …

Racial and Ethnic Disparities in Financial Access to Dental Care among Medicare Beneficiaries: Something to Chew On

Good oral health is a vital part of general health and overall well-being. However, it requires the regular use of dental services. Yet many older adults are unable to afford the care they need to maintain healthy teeth and gums. Moreover, there are significant disparities in financial access to dental services among older adults. In 2014, twice as many older adults of color were unable to afford dental care in the past 12 months than their white counterparts (Chart). Multiple …

Tips for Family Caregivers Who Are Considering Leaving Their Job

I am a working “sandwich generation” caregiver for my parents and son. I know the daily challenges of caring for aging parents with cognitive and health care needs while holding down a full-time job and raising a family. And I’m not alone. Roughly 40 million Americans provided unpaid care to an adult in the past 12 months. In our recent Valuing the Invaluable report, 6 in 10 caregivers reported having a job in the past year.  Balancing caregiving responsibilities with a …

What Are We Doing to Support our Valuable Family Caregivers?

About 40 million people in America care for a family member, neighbor or friend who has limitations in everyday activities. We call these people “family caregivers.” Most of them juggle work and family caregiving responsibilities, which can seriously affect their physical and emotional health. Together, this invisible workforce provides 37 billion hours of care, which the AARP Public Policy Institute values at $470 billion. That’s 470 BILLION dollars. Hard to get your head around that number. But try. Because it …