There are a number of agencies in our community that provide programs and services for the seniors in our community. A majority of the financial support for these agencies comes from local support (foundations, individuals, fund raisers and United way of Navarro County).? While these agencies are doing all they can, the needs far out exceed the local program and services available. the seniors represent a large portion of our population. we all need to be aware of the impact on our community as a whole and what we can do to address the needs of our seniors. this is a very important workshop for a number of our seniors and/or the family members with aging seniors. we have numerous local home and long/short term health care providers providing the services and health care required in Navarro County. I also see a number of home health care and long/short term health care providers coming into our community that in some cases are taking advantage of our aging population. most of our seniors, including their family members, are not up to date on the benefits and limitations of the different types of care available for seniors and the requirements. all the factors that limit care affect the quality of life for our seniors and my hopes are that this workshop will provide information to help others make the best decision for their loved ones or their own retirement plans. You do NOT have to lose your LIFE SAVINGS to nursing home costs! How does it work? What will it cost? who pays for what? What steps do we take? can we protect our Home? Do we have to lose all of our money to nursing home costs? Where do we find the answers? who has solid and proven Solutions that will work for us? please join the Chamber and Country Meadows for our Asset Protection & Medicaid Information Workshop Luncheon: "taking the Mystery Out of Medicaid". How Medicaid Works:? "the Rules on Income & Resources" & "the Truth about Asset Protection & Long Term Care Planning". ? if you would like to learn more about how to "plan ahead" to protect your assets from a potential future health crisis OR if you have a family member or friend whose assets and property are currently at risk because they are paying for the high nursing care costs, come join our workshop to help you to understand the basics on building a financial roadmap to protect as many of your assets as possible and still qualify your loved one for quality care assistance sooner rather than later. ? Bob Pender, of Seniors Financial Solutions, is our guest speaker and will focus on financial solutions for seniors and their families. ? Thursday ? 11:000 to 1:00 PM ? August 25th ? Navarro County Youth Expo ? 4021 W. State Hwy 22. please contact Harrell Wilson at Country Meadows Nursing & Rehab to RSVP at (254) 602-2314. for additional information on this subject, please read the following information concerning Senior Economic Insecurity on the Rise. the fear of poverty and outliving one?s resources is an increasingly common experience among today?s senior citizens. for millions of American seniors this fear is justified. in only four years, the number of seniors at risk of outliving their resources increased by nearly 2 million households. Using the Senior Financial Stability Index, economic insecurity among senior households increased by one-third, rising from 27 percent to 36 percent from 2004 to 2008. this steady and dramatic increase occurred even before the full force of the great Recession hit. With effects of the recession impacting all demographic groups, economic security of seniors has deteriorated further. Contrary to the popular belief that seniors have ample time and resources for a fulfilling retirement, objective measures show a dramatically different story. in fact, more than one of every three seniors (36 percent) is economically insecure today as measured by the Senior Financial Stability Index (SFSI). Combined with the 40 percent of senior households that are financially vulnerable (neither secure nor insecure according to the SFSI), three quarters of all senior households find themselves in an economically precarious position with little or no buffer against financial ruin should they be faced with an unexpected illness or other traumatic life event. ?? ? the Senior Financial Stability Index (SFSI) projects essential needs over the life course and assesses available resources to meet those needs. Analysis using the SFSI reveals dramatic increases in economic insecurity in recent years: ? Economic insecurity among senior households increased by one-third between 2004 and ? 2008, from 27% to 36%; ? Lack of sufficient assets, rising housing costs and fixed budgets not meeting essential ?? expenses are the major drivers of the increase in economic insecurity; ? about half of all senior households of color and senior single women households are ?? economically insecure. the SFSI was developed at the Institute on Assets and Social Policy in 2008. the first published findings using the Index were presented in the 2009 report, ?Living Longer on Less: the New Economic (In) security of Seniors,? by Tatjana Meschede, Thomas M. Shapiro, and Jennifer Wheary. LIVING LONGER the trends are clear; the costs associated with getting older are rising while the resources traditionally available to pay for these ?golden years? are becoming ever more tenuous. Ultimately, the challenge of growing older today is one of balancing fixed or declining resources with rising costs and future unknowns?the inevitable but unknowable risks that lay down the road. the unknowns are many. Some come out of the blue, like a catastrophic illness or the death of a spouse, while others are consequences of our political environment and policy choices. for the many economically insecure seniors, experiencing just one of these possible risks tips the delicate balance from just making ends meet into economic hardship and poverty. being economically insecure means making tough choices every day between competing essential needs: Will I be able to buy food if I purchase my medications? if I ignore the leaky faucet again this month, will I be able to afford to heat my home in winter or use the A/C when the temperatures begin to rise? Ignoring the daily essentials can hasten traumatic health events, leading to expensive long-term hospitalizations or nursing home care. These costs in turn are either born by family members, decreasing their economic prospects, or are passed along in the form of higher health costs and insurance premiums. Either way, we pay, as individuals and as a society. the trend toward increasing economic insecurity is driven by three factors: declining household assets, inadequate household budgets, and increasing housing costs. all seniors are affected by these trends but some groups are more vulnerable than others. Close to half (47 percent) of single female seniors are economically insecure, while more than half of all seniors of color do not have the resources required to support themselves over the remainder of their lives. Fifty-two percent of African-American and 56 percent of Latino senior households???? are economically insecure. Older single women are particularly vulnerable, with 47 percent at risk of outliving their savings. Social Security is critical for older women; many rely almost exclusively on Social Security benefits to make ends meet. Findings show that many of America?s current seniors struggle just to make ends meet, and their economic prospects are declining year after year. if current trends persist, we can expect the economic status of tomorrow?s seniors to be even worse. in addition to rising costs of essential needs, especially health care and housing, today?s 50-year-olds are much less likely than current seniors to have a defined benefit pension that would provide a life-long secure income. many of today?s workers are not offered a retirement account of any kind, and for those who do have an employer-sponsored 401(k) or other defined contribution plan, most are woefully underfunded. Social Security remains the primary source of income for most retirees and is the only secure resource guaranteed to provide income throughout retirement for many households. Although many of the challenges that we inevitably confront cannot be predicted, particularly as we grow older, the economic prospects of current and future seniors can be improved by strengthening those policies established to insure against such risks. important steps can be taken to protect all of us against economic vulnerability during our ?golden years.? Discussions in Washington are dominated by those who believe the only way to reduce the deficit is by dramatically altering Medicare and Social Security. already, cash-strapped states have reduced or eliminated funding for vital senior services that prevent or delay the need for more expensive hospitalizations and levels of care, such as adult day care and in-home services. such actions will only worsen current trends and will further undermine the economic prospects of future seniors. There are a number of agencies in our community that provide programs and services for the seniors in our community. A majority of the financial support for these agencies comes from local foundations, individuals, fund raisers and United way of Navarro County.? While these agencies are doing all they can, the need far out exceeds the assistance and help available. the seniors represent a large portion of our population. we all need to be aware of the impact on our community as a whole and what we can do to address the needs of our seniors. important to Remember! Shop Local First! did you know that for every $1 spent in our community that it turns over 5 times? this means that it will be spent 5 times locally before being spent on something outside our community. Let?s all help each other first! please remember to buy Local because ?buying local does matter?! ?? ? for more Information if you know of any events going on in our community, I invite you to add it to the Chamber?s Events Calendar at www.corsicana.org. the Chamber website averages over 40,000 plus visits per month with the Events Calendar being the Number One page viewed every month (approx. 10,000 views). People want to know what is going on and what there is to do here in our community and you can tell from the number of visits to our website that a lot of people look to the Chamber to find information. ?
Click link below to read full and original articleChamber Notepad: Asset Protection & Medicaid Information Workshop Luncheon ?
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Corsicana Daily Sun, Corsicana, Texas
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