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Aging

How Older Baby Boomers Want to Live

by Carol Marak
written by Carol Marak

We’ve all read that the aging boomers want to stay at home as long as possible, and that stills hold true. However, LeadingAge, a non-profit global organization whose mission is to be the trusted voice for aging adults, has found some interesting data about the segment and where they would like to be when and if a physical or cognitive disability should occur.

LeadingAge, through NORC, conducted a survey of older baby boomers to gather insights into how they think about their quality of life if they become physically disabled or cognitively impaired and need long-term services and supports. LTSS includes services that help a person get through a normal day, things like getting out of bed, bathing, eating, toileting, moving around, etc.

They surveyed older boomers to imagine they had a physical or cognitive impairment and needed help. Then we posed questions like: What would be important to them? Where would they want to live? Who would they be comfortable receiving help from?

Asked what would be important if they were in a position of needing help with daily activities, being safe was ranked the most important consideration, higher even than being around family or friends.

The study found that 40% said they would want to live somewhere other than their current home or apartment if they had a physical disability that required them to need help with daily activities. Most earlier studies and surveys report that the majority (76% or more) of adults say they want to stay in their own home. These earlier studies do not target older baby boomers and they do not ask for separate responses depending on whether the impairment is physical or cognitive.

Survey Responses

If help with basic daily living activities is needed, on a scale of 1-10 (10 is most important), how important is it to do the following:

  • Be safe – 9.5
  • Be around family – 8.9
  • Have access to the outdoors – 8.8
  • Be around friends – 8.7
  • Be physically active – 8.6
  • Live in your own home – 8.5
  • Get out on a daily basis – 7.9
  • Have meaningful social activities – 7.8
  • Live in your current community – 7.7
  • Practice my religion – 7.5
  • Make a difference – 6.9
  • Travel – 6.6
  • Work – 5.1

 

The findings touch lightly on the differences among the older boomers who responded based on income, sex, and age. In the coming months, LeadingAge will be reporting on the findings in more detail and further analyzing their implications for this important aspect of being ready for an aging America.

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Senior woman with laptop and smartphone working in home office
Medicare Plans

How to Enroll in Medicare if You’re Working Past 65

by My Senior Health Plan
written by My Senior Health Plan

For decades, the gold standard for retirement age was 65. But in the last several years, we’ve seen the retirement age inch up with many folks working past 65. Now, 20 percent of Americans age 65 and older are participating in the workforce—the highest rate in nearly six decades.

Some of this is due to the U.S. government formally changing the Social Security retirement age. Since 1983, the retirement age, previously set at 65 has slowly inched toward 67, with the current age set at 66 and eight months.

But there’s more going on here. Not only are we living longer, but also the cost of living is exponentially higher than 10 or 20 years ago. Unfortunately, many of us weren’t able to adequately plan for retirement.

What is fortunate is that no matter your employment status, you can still enroll in your Medicare benefit at age 65. Here’s how.

What if you have employer-provided health benefits?

When you turn 65, even if you’re working, you gain access to what’s called the Initial Enrollment Period (IEP). If you have employer-provided healthcare, you can still apply for Medicare Part A.

You may be wondering why this is necessary. If you require medical care not covered by your employer-provided plan, your Medicare Part A plan will pick up where your primary coverage leaves off. Part A Medicare benefit is premium-free, so you stand nothing to lose financially by enrolling.

If you have a spouse who isn’t working, is over 65 and covered by your private insurance, the same principles apply.

But do stay on top of enrolling, because Medicare won’t remind you to sign up unless you currently get Social Security or Railroad Retirement Board benefits. Also, in order to take advantage of Medicare, you or your spouse must have worked and paid Medicare taxes for at least 10 years of your lives.

What if you’re working past 65 and losing your employer-provided health benefits?

When you decide to retire, you’ll need to make changes to your (and your spouse’s, if applicable) Medicare coverage. You probably already have Part A at this point, but you need to get supplemental coverage to make up for what used to be covered by your employer-provided health insurance.

If you’re beyond your IEP and are losing your employer-provided insurance outside of another enrollment period, like OEP or AEP, you’ll be eligible for a Special Enrollment Period (SEP). SEPs enable beneficiaries with extenuating circumstances to enroll in Medicare programs outside the typical enrollment periods.

The SEP for Parts A and B will last for eight months beginning the month after you lose your private health insurance benefits. The SEP for Parts C and D will last for two months beginning the month after you lose your private health insurance benefits. So, if you retire in March 2020, you’ll have between the months of April and November 2020 to enroll in Medicare Parts A and B and April and May to enroll in Medicare Parts C and D, if needed. Confused? Don’t worry, MySeniorHealthPlan.com is here to help.

What about Medicare Part B and D?

You may be aware of penalties for late enrollment in Medicare Part B and/or D. Since you’re covered by employer-provided health insurance during your IEP, you may be eligible for a Special Enrollment Period (SEP) to delay enrolling in Parts B and D.

You’ll have to consult with your employer to confirm eligibility.

With any health insurance decision, particularly those related to Medicare, we recommend you work with your employer’s plan administrator to understand what coverage you have, what coverage you need and how those options will change upon retirement.

If you need help or have questions about Medicare when working past 65, visit our website or call (877) 255-6273. You’ll talk to a knowledgeable member of our team who will help you navigate the Medicare system and find your best coverage options.

You may also seek assistance from Medicare by calling (800) MEDICARE (1-800-633-4227).

 

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Housing Tips

Benefits of Living in an Active Adult Community

by Jagger Esch
written by Jagger Esch

Today’s seniors could discover an active adult community is exactly what they’ve been missing. Offering an ideal environment for retirees seeking a low-maintenance, but still active lifestyle. Many senior communities have resort-like advantages for residents.

As retirement nears closer, many people wonder what benefits come from leaving their pre-retirement home. Exploring an active adult community is a great start.

The number of seniors looking for an adult community across the country is on the rise. This could be the cause for the more recent increase in such communities.

Sometimes a retiree prefers to live in a more comfortable climate or needs to downsize for financial reasons. Other times it’s a matter of wanting to live closer to their loved ones.

Benefit from Living in an Active Adult Community

Neighborhoods specific to a 55 and older community are retirement homes or active adult communities. These neighborhoods aim to accommodate the lifestyle of a retiree.

Today, more individuals are moving into adult communities before retirement. State and federal rules regulate these communities. Each neighborhood has its own rules and regulations. Some require ALL residents be at least 55 or older; however, others may only require 80% of residents to be 55 or older.

Congress initiated an 80% rule to allow younger adults to stay in their home should their 55+ spouse pass. However, children under the age of 18 may not live in an active adult community full-time. Most associations allow 30-60 days each year for minors to visit.

Although, rules and regulations may vary depending on the community guidelines. Additional regulations may include the retiree’s income, financial situation or criminal background.

There are many reasons a person may decide to move into an active adult community.

Older Adults Benefit from a More Active Lifestyle

One of the most beneficial aspects of moving to an adult community is the active lifestyle that comes with it. Many communities have various activities to choose from; all of which are fun and easy enough for everyone.

From fitness centers, recreation rooms, and different exercises to keep you healthy. No matter what pace you need to go, activities accommodate all residents.

Some of these fun lifestyle activities range from cooking, painting, shuffleboard, picnics, barbecues and much more!

A Social Community is Important with Age

The quality of life can change drastically with or without a sense of community, especially as we age. Living in an active adult community can provide residents with that community-like environment.

The goal of creating long-lasting memories and knowing their neighbor is a common benefit among residents. For those that don’t live close to their relatives, this can be a great way to stay social.

Getting older doesn’t have to mean loneliness. Many individuals find great friendships and a sense of belonging within the social community of an active adult organization.

Maintenance-Free Living

We’re not talking about just snow plowing, leaf blowing, and basic lawn services. Maintenance-free means all exterior building services including streets, roofs, driveways, and sidewalks.

Adult community staff generally handles even interior repairs, replaces hard-to-reach lightbulbs and other things. Sometimes, having loved ones living close by makes these tasks less difficult.

However, not all people have the help of their family members. For some, the idea of a maintenance-free life is exactly what they need.

Support Services Available

Living independently is something we all strive for, especially as we get older. Although, many of us will experience illness or accidents that prevent us from living without any help.

Fortunately, communities for 55 and older, have multiple services available for residents. Some places require additional costs for using certain support services.

Typical services such as housekeeping, meal prepping, light errands, and pet care. Personal support services like physical rehab, daily living assistance for those in need, and medication reminders.

Convenient Locations

When looking for an active adult community, location is one of the biggest things to consider. Some individuals prefer walking or taking public transportation over driving. For these adults, the location should be near certain places.

Completing tasks like shopping at the mall or attending church events may be difficult if living in certain areas. Moving to a community near hospitals, churches or shopping malls may be ideal for those unable to drive themselves.

Living near grocery stores, theaters, restaurants, and other community facilities make life convenient. Many adult communities are located close to these venues to provide residents with a better quality of life.

Feel Safe & Secure

Many active adult communities have strict security policies in place, allowing only approved residents and guests on the property. Additional security staff is on-site to ensure the safety of all residents. Perks include well-lit parking lots, common walkways, sidewalks, and streets.

Other safety features include working fire alarms and smoke detectors. Also, emergency maps displayed for evacuation purposes and exit doors clearly visible.

As we age, it can become easier to get confused or lost. Having well-lit and clearly marked can help a senior greatly in emergency situations.

Don’t Wait Until Retirement

Active adult communities are “retirement communities”. However, there’s no need to leave your employer to live here.

Although, restrictions for the residents usually include age and income. A common misconception is that members must be retirees to live in a 55+ park. However, that’s not always true.

Members of the community can travel freely or enjoy an active lifestyle without the responsibilities of owning a home. Living in one of these communities can free up more time for retirement activities or just a more relaxed lifestyle.

Be Happy in an Active Adult Community

The baby boomers are moving into retirement. The right residency may offer an active social life, recreation, and activities, privacy, and security, but most of all relaxation.

Most community designs keep the resident’s needs in mind. Offering a socially, physically and mentally active lifestyle for all within the community.

Also, members may meet new people and make new friends. Doing so is easy while taking part in some of the different activities the community offers.

 

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