Posts Tagged ‘elder index’
Monday, May 13th, 2013
Did you know?
Did you know that NJFA is celebrating our 15th Anniversary this year! Yes, NJFA was incorporated in 1998. It’s got us thinking, “what have we accomplished in all that time?” Well, the answer is, quite a lot. And we’d like to tell you about it.
When NJFA was established in 1998 it was formed with a mission to promote innovative approaches in the delivery of services that enable older adults to live in the community with independence and dignity through grant making to address unmet needs and through increasing society’s awareness to influence public policy. NJFA still seeks to hold true to that mission today, 15 years later.
Here’s how we’ve been doing so far:
NJFA has provided 44 grants to programs serving NJ Seniors.
Those 44 grants total $380,000 given to programs that serve more than 25,000 seniors across NJ.
NJFA provides public awareness through, Renaissance Magazine with 100,000 readers and Aging Insights, a public access TV program with 400,000 viewers, now on NJFA’s YouTube channel at http://www.youtube.com/njfoundationforaging
Public Policy- NJFA’s 2012 NJ Elder Economic Index Update Project is a continuation of Policy Work that began in 2009 with the first Elder Index report. The 2012 report adds demographic information to the cost of living report. Data is available in for all 21 Counties.
NJFA also continues to make transportation a priority, following the policy report, “Safe Mobility at Any Age” in 2005, we continue to work with partners like the Voorhees Transportation Center, Motor Vehicle Commission and AAA Automobile Club.
Professional Development- 15th Annual Professional Conference, June 12, 2013 Conference, Jamesburg, NJ. A day-long conference for professionals in the aging network. Over 200 attendees will hear Nationally recognized key note speakers and be a able to chose from sessions on evidence based best practices and new initiatives for seniors and caregivers in NJ.
So you see, NJFA has really done a lot in 15 years and we hope to continue being a leading force in promoting “Aging Well” in NJ. Visit us at www.njfoundationforaing.org to learn more.
How can you help? When you visit our website, click on the donate here page to make a donation online or print out a donation form and mail it to us at 176 West State St, Trenton, NJ 08608.
Have questions or want more info? Call us at 609-421-0206 or email us at office@njfoundationforaging.org, we’d be glad to tell you all about our work!
After all, none of NJFA’s work would be possible without the support of our donors, partners, funders and of course our Board of Trustees and Senior Executive Council members!
Tags: 1998, 2010, 2012, 2013, activities, aging, anniversary, Annual Conference, budget cuts, chronic disease, Conference, cost of living, deductible, elder abuse, elder index, food costs, food insecurity, food stamps, foundation blog, Gov. Christie, healthcare, medicaid, medicare, mission, money, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJFA, Office on Aging, older adults, PAAD, programs, seniors, SNAP, social security, transportation, welcome
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Thursday, April 11th, 2013
Press Release
For Immediate Release Contact: Grace Egan
April 11, 2013 Melissa Chalker
609-421-0206
Building on Wisdom: NJFA’s 15th Annual Conference!
NJFA will hold its 15th Annual Conference on Wednesday, June 12th at the Crowne Plaza Monroe. This year’s conference, titled, Building on Wisdom will feature two nationally recognized keynote speakers.
The morning keynote presentation will be given by Dr. Mike Magee, President of Positive Medicine, Inc. Dr. Magee is committed to transforming powerful health visions into action. Recognized as a visionary leader of the home-centered health care movement and lifespan planning records, he has advised the Institute of Medicine on these topics. Dr. Magee is the author of 10 books including, Home Centered Health Care, Positive Leadership and Healthy Waters.
The luncheon keynote address will be given by reporter and editor, Patricia Cohen, who has worked for the New York Times, Washington Post, Newsday and Rolling Stone Magazine. Ms. Cohen published, In Our Prime: The Fascinating History and Surprising Future of Middle Age, a New York Times notable book.
The day will also include breakout sessions with great topics like, Financial Literacy, Sex and Aging, POSLT and End of Life decisions, as well as an update on the Comprehensive Medicaid Waiver. We hope you can join us for this informative, day-long conference!
Participants may register by email, by mail or by fax. For more information about the conference visit: www.njfoundationforaging.org/events.html or call us at 609-421-0206.
To learn more about the work of the Foundation visit www.njfoundationforaging.org or call 609-421-0206. The New Jersey Foundation for Aging was established in 1998, its mission is promote approaches in the delivery of services that enable older adults to live in the community with independence and dignity.
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Tags: 2013, activities, Affordable Care Act, aging, Annual Conference, budget cuts, building on wisdom, carfit, chronic disease, Conference, cost of living, deductible, elder abuse, elder index, end of life, financial literacy, food costs, food insecurity, food stamps, foundation blog, healthcare, healthcare reform, home centered healthcare, hospital, medicaid, medicare, midlife, mike magee, money, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJFA, ny times, Office on Aging, older adults, older drivers, patricia cohen, POLST, seniors, sex, social security, study, welcome, wisdom behind the wheel, wiser
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Monday, April 1st, 2013
More Medicare Information to think about.
So, we know that at age 65 you can enroll in Medicare, but do you have to? It is not a question we ever thought anyone would ask, however we recently read an advice column in the newspaper where a reader asked just that.
Well, do you have to take Medicare? The answer is no, but it’s not that simple.
First, let’s review again that parts that make up Medicare. Part A (hospital insurance) cover inpatient hospital stays and has already been paid for by the Medicare payroll tax deduction from your paycheck while you were working, so there is no premium or cost for that. Part B (Medical Insurance) does have a premium and covers doctor’s visits, lab tests and most other expenses not covered by Part A. The 2013 monthly premium for Medicare Part B is currently $104.90 (for most people, higher income enrollees may pay more, see www.medicare.gov for more information).
Part A and Part B are the two main components of Medicare. Part C is the Medicare Advantage program, where you select a Medicare HMO (this could be an entire post in itself, visit www.medicare.gov for your info). Part D is your prescription drug coverage.
Okay, back to the question at hand- do you have to enroll in Medicare? If you are receiving Social Security, you will be sent a Medicare Enrollment Package before your 65th birthday. You will be automatically enrolled in both A and B, unless when you receive your packet you contact Medicare to turn down Part B, they give you this option since Part B will cost you a monthly premium. They assume you’ll want Part A since you’ve technically already paid for it through the payroll tax. But before you turn down Part B you should review your current insurance coverage.
In the advice column referenced in the beginning of the post, the writer of the question was asking because they have a insurance through their former employer. However, you should not assume that your employers coverage does not change when you become Medicare eligible or that the company might prefer you switch to Medicare. Often the plan that covered you under your employer will end when you become Medicare eligible but they can offer you a supplemental plan. Because, the other thing to remember about Medicare is that you’ll have a 20% copay and a supplemental plan (also called a Medigap plan) can help to cover that.
One more caution if you chose to turn down Medicare Part B, should you later decide you want it, you can still apply, but you’ll have to wait until the next enrollment period and you’ll face a 10% penalty each month once you enroll.
You don’t have to take Medicare, but you probably should.
Visit wwww.medicare.gov for more info.
Tags: 2013, activities, aging, Annual Conference, budget cuts, chronic disease, Conference, cost of living, elder abuse, elder index, food costs, Gov. Christie, medicaid, medicare, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJFA, Part B, penalty, premiums, seniors, social security
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Thursday, March 21st, 2013
Reverse Mortgage – Things to think over
In the Feb/Mar issue of Renaissance Magazine, NJFA featured an article about Reverse Mortgages. You can see the article (and the whole magazine) at www.njfoundationforaging.org/ren.html
In the article, NJFA Board Member, Robert Jaworski, who is also an Attorney at Reed Smith in Princeton, covers all the bases for those considering a Reverse mortgage. As with any decision, there are many things to consider when determining if this is right for you.
One issue that has recently come to our attention via a few news articles has to do with married couples. If both parties are not listed on the document there can be difficulty when the person who did sign passes away. It is also important to note that both parties must be 62 or older to be listed on the reverse mortgage documents.
In one such story in the Washington Post recently, a woman in her 90’s was facing foreclosure because of this very issue. Even though both she and her husband were listed on the deed to the home, only her husband’s name and signature appear on the reverse mortgage documents.
It is clear that upon the death of the person who took out the reverse mortgage loan, the debt must be paid. However, the spouse living in the home should be spared that expense. But according to HUD, who oversees the programs, this is not the case if the spouses name does not appear on the documents.
But under a controversial policy that is drawing national scrutiny and at least one major lawsuit, HUD — the agency that runs the reverse mortgage program — now insists that when a spouse dies, and the surviving spouse’s name is not on the loan documents, the full mortgage balance becomes due and payable. If a relative or the surviving spouse cannot purchase the house and pay off the debt, the loan may be subject to a foreclosure sale. HUD’s reverse mortgage program, run through the Federal Housing Administration (FHA), has been big business. There were 582,000 loans outstanding nationwide as of November 2011, according to the Consumer Financial Protection Bureau, which issued a critical evaluation of the program last year. Reverse mortgages are restricted to seniors 62 years or older. The program allows homeowners to tap into equity and pull out money for use in their retirement years. As long as they pay their property taxes and hazard insurance, generally they don’t have to repay any of the money until they move out, die or sell the house.
The policy change on surviving spouses that has snagged a few of the people we’ve read about was not adopted until late 2008, That change has been challenged in a federal lawsuit filed by AARP, the seniors advocacy group. On behalf of two widows and one widower who were threatened with foreclosure, AARP charged that HUD disregarded clear statutory language that allows surviving spouses to remain in their homes even if their name is not on the documents. In an appellate court ruling last month, U.S. Circuit Judge Laurence H. Silberman said that the court was “somewhat puzzled as to how HUD can justify a regulation that seems contrary to the governing statute.”
This post is not intended to scare anyone or to suggest that a reverse mortgage is not a good option for some people, it is merely another fact to consider when looking into a reverse mortgage.
Be sure to question your broker and consider all parties living in the home before signing on the dotted line.
Here are some resources to answer any of your questions:
http://www.consumer.ftc.gov/articles/0192-reverse-mortgages;
http://www.aarp.org/money/credit-loans-debt/reverse_mortgages/;
- The National Council on Aging
http://www.ncoa.org/calendar-of-events/webinars/reverse-mortgage-use-your.html or (800) 510-0301.
http://www.novadebt.org/housing_counseling.taf or 1-866-472-4557
And here is a link to the article referenced :
http://www.dailyherald.com/article/20130201/entlife/702019968/
Tags: 2013, activities, Affordable Care Act, aging, Annual Conference, chronic disease, cost of living, deductible, elder index, food costs, foundation blog, home, HUD, medicare, money, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJFA, Office on Aging, older adults, programs, Property Tax Reimbursement, Renaissance Magazine, reverse mortgage, seniors, social security, spouse, welcome
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Thursday, December 20th, 2012
Go Direct
NJFA has done a number of blogs about Go Direct, a campaign alerting those who receive Federal Benefits (such as Social Security) that they must sign up for Direct Deposit for those benefits by March 1, 2013 as US Treasury will no longer issue paper checks after that date.
There are two options, direct deposit into your bank account or you may chose to receive your benefits on a pre-paid debit card. You can learn more at www.ssa.gov/deposit/
Today, we want to tell you that in this age of technology, scammers are finding more ways to target seniors. The Social Security Administration (SSA) reports that they have been receiving reports from identity theft victims that their monthly Social Security benefits had been sent to a different bank account or pre-paid debt card, without their knowledge or permission.
SSA and the Office of the Inspector General continue to investigate and track these cases. The incidents are related to widespread schemes, the same kind of fraudulent phone calls or emails targeting seniors that have been going on for years. Now, the scammers are using this personal information to re-direct direct deposit of Social Security benefits.
David Vinokurov of the Social Security Administration states, “to protect your identity, be wary of any calls or emails from people asking for personal information.” No legitimate company will make an unsolicited call asking for personal information like your Social Security number (SSN) or bank account. Mr. Vinokurov adds, “The Social Security Administration will never ask for your SSN, we have it.”
The SSA does not want anyone to fear signing up for Direct Deposit, they know it is a safe and convenient way for people to receive benefits. Unfortunately, scammers will always find a way to take advantage, so the best thing you can do is to closely guard your personal information. If you receive a call or email asking you for your bank account number, Social Security Number or other personal information, do not give it out. “Always pay attention to your bank statements and your credit reports” warns Mr. Vinokurov. You can receive a free credit report once a year, visit www.annualcreditreport.com to learn more.
Another safeguard through the SSA is that you can tell them that no changes may be made to your account unless you appear in person with ID, visit www.socialsecurity.gov/blockaccess
If you fear that your benefits may have been changed due to identity theft contact SSA immediately. For example, if you have not received your benefits and it is 3 to 4 days past your scheduled payment or if you receive a letter confirming a change to your direct deposit however you did not authorize this change, you should report the problem immediately to SSA.
To learn more about this type of fraud and how to report it, visit http://oig.ssa.gov/report-fraud-waste-or-abuse
Tags: 2012, aging, Annual Conference, budget cuts, direct deposit, elder abuse, elder index, federal benef, food costs, food stamps, foundation blog, fraud, healthcare, hospital, identity theft, march 2013, medicaid, medicare, money, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJFA, Office on Aging, older adults, programs, seniors, social security, ssa, transportation
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Wednesday, December 12th, 2012
The Affects of Sandy for Seniors
NJFA has partnered with NCOA on a few occasions to share a common message or service. NCOA’s One Away campaign has been something that NJFA has tweeted or facebooked about because we understand that many seniors (and many families) are one illness, one accident, on job loss away from a financial crisis. Now, as it turns out, they were just one hurricane away from financial disaster.
Before Sandy hit New Jersey, we knew there seniors who were living solely on Social Security. Many of them wondering by the end of the month how they’d make do until their next check. Sometimes, making a choice between food or medication or heat. NJFA has been aware of and worked on advocacy efforts for these seniors who are living on the edge of poverty.
NJFA’s 2012 Elder Index Update report shows that more than 25% of NJ seniors have difficulty closing the gap. We know that basic expenses in NJ for a single elder, in a one bedroom apartment are $27,960 a year. To read more of this report visit, http://www.njfoundationforaging.org/NJElderEconomicIndex2012.pdf
Certainly, seniors were among those affected by “Super-Storm” Sandy. Being displaced from their home, losing their belongings, are all things that may have pushed those living on the edge, over it. Those seniors may now be faced with not only how to stretch their dollars, but where to find dollars to replace their belongings or their home.
As we continue to hear stories about the people dealing with the recovery from the storm, we will see people like, Robert Ford, a disabled Vietnam veteran, whose family’s story of trying to save his home and keep him in it, was featured in the Asbury Park Press on Dec. 3rd. http://www.app.com/viewart/20121202/NJNEWS/312020047/Sandy-Highlands-veterans
In the article, you can read about how the family is struggling to find ways and money to rebuild the home and get Mr. Ford back where he wants to be. But it is not so easy for people that were barely making ends meet before the storm.
There are probably also many New Jersey seniors, who like Elaine of Maryland, who was featured in a video about senior hunger put out by the National Council on Aging, had her home flooded and wonders now how she’ll pay for the damage as well as continue to buy food, medication and pay for her heat. http://www.ncoa.org/get-involved/this-holiday-season-give-a.html
To find out about public supports and other programs that might help seniors in need contact your County Office on Aging, http://www.njfoundationforaging.org/services.html
Tags: 2012, activities, Affordable Care Act, Annual Conference, asbury park press, budget cuts, chronic disease, Conference, cost of living, deductible, disabled, disaster, elder abuse, elder index, food costs, food insecurity, food stamps, foundation blog, Gov. Christie, hurricane, NCOA, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJ EESI, NJFA, Office on Aging, older adults, one away, programs, sandy, seniors, SNAP, social security, super-storm, update
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Wednesday, November 21st, 2012
Go Direct- Deadline approaching
As we seem to be hurtling quickly to toward the end of 2012, we begin to think about opportunities and changes in 2013. One important thing to know from anyone receiving Federal benefits is that by March 1, 2013 you need to switch to Direct Deposit. When we first heard of this, it seemed so far away, but now, here we are at the end of 2012 and March 2013 is approaching fast.
So, who does this affect exactly? By March 1, 2013, everyone getting the following federal benefits by paper check is required to switch to electronic payments – direct deposit to a bank or credit union account or to the Direct Express® Debit MasterCard® card:
- Social Security
- Supplemental Security Income
- Veterans Affairs
- Railroad Retirement Board
- Office of Personnel Management
- Department of Labor (Black Lung)
How do you switch? People applying for or receiving federal benefit payments must choose an electronic payment option – direct deposit to a bank or credit union account or to a Direct Express® Debit MasterCard® card – from the beginning.
If the benefit recipient has a bank or credit union account, they should sign up for direct deposit https://www.godirect.gov/gpw/index.gd, or by calling (800) 333-1795, or visiting their local bank/credit union branch or federal benefit agency office.
If the benefit recipient prefers a prepaid debit card or doesn’t have a bank account, they can call (800) 333-1795, or notify their local federal benefit agency.
People who have not chosen an electronic payment option by March 1, 2013, will receive their money after the deadline date via the Direct Express® card, so they will not experience any interruption in payment.
Tags: 2012, 2013, aging, budget cuts, cost of living, deadline, deductible, direct depo, Direct Express, elder index, federal benefits, foundation blog, healthcare, march 1, money, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJFA, Office on Aging, older adults, seniors, social security
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Thursday, November 15th, 2012
In the aftermath of Sandy
Many New Jerseyans were affected by Hurricane Sandy, a number of them seniors. In the past two weeks since then we’ve seen many images of destruction and heard many stories of days without power.
If you are still in need of assistance as you recover from the damage Sandy left behind, here are some important numbers and websites to know:
Dial 2-1-1 or visit www.nj211.org to find out about local resources for food, shelter, transportation, etc.
If you need disaster assistance, apply for FEMA by calling 1-800-621-FEMA (1-800-621-3362) or visit www.disasterassistance.gov Please know that there are deadlines to requesting help and that you need to reach out to FEMA directly, they will not contact you.
Your local chapter of the Red Cross (http://www.redcross.org/find-help) and the Salvation Army (http://www.use.salvationarmy.org) can also be of assistance.
If you or someone you know needs help coping with the trauma from the Hurricane you can contact the NJ Disaster Mental Health Hotline 1-877-294-4357.
There have been many reports about the help being offered to Hurricane Sandy victims. Countless organizations and individuals have provided, shelter, food, heat, clothing and comfort to those affected. Unfortunately, during times of disaster, we see some people who would rather take advantage of the situation rather than help. Please be on the look out for scams.
One, price gouging is illegal, to report it call (862) 209-0130 or (973) 220-3474.
There have been a couple of instances of people posing as utility or inspection personnel and then attempting to rob the home once they gain entry. Anyone approaching your home as a utility worker or inspector should have proper ID and have no problem showing it to you or verifying the reason for their visit. Don’t let anyone into your home that you are not 100% sure is who they say they are. Make sure to call the police and report any false attempts to gain access to your home.
There may also be people posing as false insurance programs or other assistance programs. Please make sure to always ask for proper ID and verify that the program or services they are offering are legitimate. Report any problems to your local police department.
And for those of you looking for ways to help, be aware of that there are also scammers posing as charities . The IRS has issued a statement encouraging people to look out for scam artists impersonating charities to help Hurricane Sandy victims. Donate to recognized charities only. Some will even try to use a name similar to a recognized organization so be sure to look closely. Do not give out personal information. There are various ways that these scammers will try to reach you, they may call on the phone, by email or through the use of a phony website set up to mimic that of a known charity. Legitimate charities may also be found on the Federal Emergency Management Agency (FEMA) Web site at fema.gov.
Call the IRS toll-free disaster assistance telephone number, 1-866-562-5227, if you are a hurricane victim with specific questions about tax relief or disaster related tax issues.
If you would like to volunteer to help those affected by Sandy, you can also contact your local Red Cross or Salvation Army or call the NJ Volunteer Emergency Response Hotline at 1-800-JERSEY-7 (1-800-537-7397)
Recovering from Sandy will be a lengthy process. You may have long wait times for responses from disaster assistance programs, but know that help is coming.
Tags: 2012, charity, cost of living, disaster, disaster relief, donate, elder index, fema, food, foundation blog, help, hurricane, money, new jersey, New Jersey Foundation for Aging, NJ, NJFA, Office on Aging, older adults, power, sandy, scam, seniors, shelter, shore, social security, storm, transportation, utility, volunteer
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Thursday, October 25th, 2012
Medicare Billing Issues
In the August/September issue of Renaissance magazine (http://www.njfoundationforaging.org/Ren_AugSep_WEBa.pdf), NJFA featured an article on observation status at the hospital versus being admitted. The article talked about how this can not only mean that seniors would see a bill for the time spent at the hospital, but that it also affected Medicare’s coverage of post hospital treatment at a rehab facility.
Medicare Part A is your hospital insurance and covers inpatient admissions to the hospital. There have been a few articles and news stories about these instances where a hospital changes a patient to observation status and therefore Medicare A does not cover the stay consequently, the patient is left with a bill. Furthermore, if that patient might benefit from a stay in a Skilled Nursing Facility for rehabilitation, then Medicare will not cover that either as a 3 day inpatient hospital admission is required in order for Medicare to cover an inpatient rehab stay.
Another issue recently cited in a New York Times article is that the Federal Government is concerned with inaccurate billing and coding by hospitals due to the new electronic record system. They feel there may be “upcoding”- increasing the severity of a patient’s condition or treatment as a means of profit. The Federal Government is also concerned about “cloning”- where information about one patient is repeated in other records.
Certainly there are many advantages to electronic medical records, both in cost and efficiency. However there needs to be tight guidelines and monitoring of these practices to make sure that fraud or abuse are not taking place in the system. The Federal Government issued a letter to several National hospital associations indicating that they are concerned about accurate billing in use of the electronic medical records system.
What does this mean for Medicare recipients? Make sure you talk to your doctor and anyone treating you in the hospital. Being an educated patient is your best defense; asking the hospital staff what you are being tested for; having open communication about your status and asking if they’ve communicated with your primary physician. It is also important to review your Medicare statements when they come and if you see anything that you feel is incorrect to report it.
Know your resources. You can contact the following organizations with assistance understanding or navigating your Medicare coverage, as well as report possible fraud or abuse or other concerns, such as appeals.
Medicare- http://www.medicare.gov or 1-800-MEDICARE
Medicare Rights Center- http://www.medicarerights.org/ or 1-800-333-4114
SHIP (Statewide Health Insurance Assistance Program) 1-800-792-8820
Senior Medicare Patrol- 887-SMP-4359
County Office on Aging- 1-800-222-3737
Tags: 2012, admission, Affordable Care Act, bill, budget cuts, chronic disease, cost of living, deductible, elder index, foundation blog, healthcare, hospital, increase, medicaid, medicare, money, new jersey, New Jersey Foundation for Aging, NJ, NJ County Offices on Aging, NJFA, observation, Office on Aging, older adults, Renaissance, seniors, SHIP, social security, statement, status, welcome
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Thursday, September 27th, 2012
Fraud is still out there.
Scammers continue to target seniors.
The Certified Financial Planner Board of Standards, a non-profit organization, conducted a survey of financial planners. In this survey they found that seniors who become victims of financial abuse lose an estimated $140,500.
The financial planners surveyed indicated that seniors who were victims of “unfair, deceptive or abusive practices” were often scammed through misleading marketing schemes. As we have said before, there is no such thing as a free lunch. But often that is just what the scammers do is lure seniors in with a seminar where they get a free lunch. The catch is that is really a sales pitch for misleading or fraudulent investments. 73% of the advisors surveyed said they knew a senior that was invited to this type of “free lunch” seminar.
The financial advisors also stated that they knew of seniors getting unsolicited pitches at home through the mail, e-mail, or the phone. While these type of investment scams, reverse mortgage scams and even sweepstakes scams are prevalent, sometimes seniors are also victims of fraud committed by someone they know. Of the planners surveyed, 35 % of them reported that they knew of at least one case were an elder was the victim of financial abuse by someone they knew. And another 20% said that the perpetrator was the guardian or Power of Attorney for the senior.
And the types of fraud don’t end there either. 83% of the advisors surveyed stated that seniors have been scammed by other financial advisors. Just like the “free lunch” seminars, there are financial advisors out there that have offered inappropriate financial products to seniors, as well as, misrepresented or omitted information about the costs and risks of those products.
Despite the fact that these types of fraud result in big losses for seniors, only 16% actually report the abuse to authorities. Many things can deter seniors from reporting crime, if the perpetrator is a family member they may not want to press charges or they may be afraid to report them. Some seniors may be embarrassed to admit they feel for a scheme, for fear people will think they are feeble. Or, they may be experiencing cognitive impairment or dementia and don’t want to admit that either.
It is important to make sure the people you’ve selected or hired to help with your finances are trustworthy. It never hurts to obtain a second opinion about any investment advice. If you think you’ve been the victim of financial abuse or fraud, please report it. If you are concerned that a loved one may have been taken advantage of, encourage them to report it or make the call yourself.
You can report financial abuse to the police. You can also reach out to your County Office on Aging to find out about programs or services. To report any elder abuse concern please contact your County Adult Protective service agency.
To find your County Office on Aging phone # visit, www.njfoundationforaging.org/services.html or call 1-877-222-3737.
To find your County’s Adult Protective Service agency visit: http://www.state.nj.us/health/senior/adultpsp.shtml
or call 1-800-792-8820
Tags: 2012, abuse, accountant, activities, aging, Annual Conference, budget cuts, certified financial planner, chronic disease, deductible, elder abuse, elder index, financial abuse, financial planner, food stamps, foundation blog, fraud, free lunch, lawyer, medicaid, medicare, money, new jersey, New Jersey Foundation for Aging, NJ, NJFA, older adults, scam, scammer, seniors, social security
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