NEW MEDICARE PREMIUMS 2008

Here are all the new Medicare figures:

· Part B premium: $96.40/month (was $93.50)

· Part B deductible: $135 (was $131)

· Part A deductible: $1,024 (was $992)

· Co-payment for hospital stay days 61-90: $256/day (was $248)

· Co-payment for hospital stay days 91 and beyond: $512/day (was $496)

· Skilled nursing facility co-payment, days 21-100: $128/day (was $124)

As directed by the 2003 Medicare law, for the first time, higher income beneficiaries will pay higher Part B premiums. Following are the higher premium rates:

· Individuals with annual incomes between $82,000 and $102,000 and married couples with annual incomes between $164,000 and $204,000 in 2008 will pay a monthly premium of $122.20.

· Individuals with annual incomes between $102,000 and $153,000 and married couples with annual incomes between $204,000 and $306,000 in 2008 will pay a monthly premium of $160.90.

· Individuals with annual incomes between $153,000 and $205,000 and married couples with annual incomes between $306,000 and $410,000 in 2008 will pay a monthly premium of $199.70.

· Individuals with annual incomes of $205,000 or more and married couples with annual incomes of $410,000 or more in 2008 will pay a monthly premium of $238.40.

Rates differ for beneficiaries who are married but file a separate tax return from their spouse:

· Those with incomes between $82,000 and $123,000 will pay a monthly premium of $199.70.

· Those with incomes greater than $123,000 will pay a monthly premium of $238.40.

Just how much should we do for our parents?

"Parents' demands can trigger elemental fears-the looming specter of their mortality, the scary knowledge that a parent's decline brings us closer to our own old age. But only by facing fears can we defuse them and put ourselves back in control."

When parents need our help, often their demands can seem burdensome and overwhelming. After all, don't our spouses and children need us too? It's not easy to say no to our parents, especially since they raised us and always had time for our little mishaps and maybe even bailed us out when times were hard. Don't be afraid to say no, but do it gently.

Many people mistake quantity for quality when it comes to spending time with their parents. I think it is better to spend less time with them and make sure those hours are truly satisfying. Plan activities that will bring you closer together, not just chores and errands. You can hire caregivers for those chores and leave the quality time for more meaningful interactions.

Don't use this time to settle old scores with your parents. "No matter how cruel or neglectful your parents were when you were a child, this is not the time for payback. Showing them compassion and respect, whether or not you feel they deserve it, is a mark of adulthood and depth of character."

Too often people believe that the parent-child role gets reversed as our parents age. "Care giving should not be confused with parenting. Preserving your parents' independence and dignity is perhaps the most important job you will have at this stage in their lives." Giving them something they can do for others is a great way to make them feel productive. It can be as simple as having them help your children with their homework.

"Family dynamics tend to build to a fever pitch when the care of an aging parent is involved." It's true that some siblings are more suited to the task than others. Don't be resentful or shirk your share of the work just because they can't or won't pitch in. And remember, there is plenty you can do from afar... researching a medical issue on the internet or monitoring their accounts online are simple ways to help your parents. Subsidizing their home care and sending care packages are another way to help.

However, don't mistake sending money with caring. "People who confuse the two often come from families in which money was a defining issue." Often mom or dad would rather just spend quality time with their families and let someone else assist them with day-to-day money management.

And so here is the plug: A daily money manager can assist your parents with those day-to-day money issues. Timely bill payment, balancing check books, organizing documents and even application for government benefits can be handled by a daily money manager. This allows you to spend quality time with your parents.

What should you ask before hiring a Daily Money Manager?

• What are the costs and how do they bill (hourly or flat fee)?
• Do they have professional liability insurance?
• Can you check their references?
• Do they have a confidentiality agreement as part of their retainer?

If you want to know more, please feel free to call me at (612) 385-6446 or visit my website at www.alonglifespath.com

The quoted portions were reprinted from an article entitled "Setting Limits: Just How Much Should We Do for Our Parents?" published in AARP magazine in June 2005 by Dale Atkins.

A Web Site at Last!!

If you have found this page, you most likely have logged on to my website. Perhaps not... but I hope that you will visit my updated website at www.alonglifespath.com My thanks to Dana for getting the job done and I am very happy with the results. I would appreciate your feedback.

Soon, I will be posting articles and upcoming events on this blog. I have a few items that I want to post now for the month of October:

Fall Aging Conference at the Earle Brown Heritage Center in Brooklyn Park will be on Friday, October 27, 2007. This is a great opportunity to hear many exciting speakers and to peruse the booths of many worthwhile vendors pertaining to senior housing, health care and long term care issues. There is still time to register, so don't miss out.

On October 23, 2007 at 7 p.m. - Becca Olson of AND Law Firm and myself will be speaking at Calvary Cooperative in Golden Valley. She will be speaking on estate planning issues and I will be talking on "Daily Money Managers, What can they do for you?" I believe it will be open to the public.

I also have several speaking engagements scheduled this month at "The Heathers", "Sunrise of Minnetonka" and "St. Therese Northridge" during the week of October 15th. My thanks to the Resident Services Coordinators for the opportunity.

Stay tuned for further events and articles to come. Welcome to all my new clients and those interested in the services of a Daily Money Manager.

My computer is back up and running

Well, after considerable stress, anxiety and grief, my computer is back up and running. I really was fearful that I would have to buy a new computer. Thankfully, that is not the case.

I am busy networking with many business owners to find as many referral resources as possible. Today I met with Jennifer DeKok, an Arbonne distributor, who hooked me up with two networking groups. They meet at different times but both early a.m. So, we will see how motivated I really am.

If anyone reading this blog has other referral resources they would be willing to share to make my business grow and thrive, I would appreciate you posting it or call me on my cell phone.

Make it a great day!