Two board-certified geriatricians have been appointed to join the team of Northwest Health System, to work at Northwest Senior Schmiding Center. Located at 2422 N. Thompson, Suite A, Springdale, CEO of Northwest Health System, Dan McKay, was said to have been “excited” at these new appointments.
New appointees Dr. Jose Fontanilla and Dr. Maria Judit hold very important positions as the aging population lives longer. Fontanilla has been practicing in this area for over two decades, receiving his medical education in the Philippines and residency at the University of Illinois Medical Center, Chicago. As well, he did a geriatric medicine fellowship at Loyola University medical Center/Hines VA Hospital, Maywood.
Judit has likewise been practicing geriatric medicine for many years (over 15). She undertook her medical education in the Philippines and her internal medicine residency at Ravenswood Medical Center, Chicago. Her geriatrics fellowship was undertaken at the same place as Fontanilla.
These days being board certified in geriatric medicine by the American Board of Internal Medicine – as these two geriatricians are – is good news for the nation’s increasingly aging population.
As the baby boomers age, there are many questions that they, and their children, are presented with. What, for instance, should you do if your elderly parents run out of money? These are questions that many experts, like Edward Beckwith from BakerHostetler and Richard Baum at Anchin, Block & Anchin try to answer.
Since life expectancies have gone up significantly at the same time that the economy has weakened, many people are finding themselves in a precarious situation in their golden years. According to a March 2012 data report from Wider Opportunities for Women, a nonprofit in Washington, 52% of people 65 and older who live alone don’t have the income they need for basic necessities, let alone health costs.
Discussing an annual gift is a good idea, as it allows you to give a set amount of money to your parents each year. Another way to help them, as Richard Baum of Anchin, Block & Anchin in New York explains, is to pay their medical bills. The tax law allows you to pay qualified medical and educational bills without any limits. As Baum from Anchin explains, you can make direct payments to the medical provider without any limits on how much you spend. And, according to Anchin Block, these payments don’t count toward your lifetime gift-tax exemption.
Mr. Baum explains that paying bills directly also keeps wealth out of your parents’ estates. As he said, “The idea is to make sure that child does not create a pool of wealth that would be taxed in the parents’ estate.”
It is important, notes Bradley Frigon, an elder-law attorney, to draft a “family settlement agreement” so that there is no expectation that the bill-player will want reimbursement from the parents’ assets.
The worldwide leader of home care services for seniors, Home Instead Social Care, announced that in 2013 its franchisees anticipate the hiring of 45,000 CAREGivers ℠ throughout America. This implies an escalation in the demand for home care professionals as well as the industry’s strength. In addition, the Bureau of Labor Statistics has anticipated a 70 percent growth rate (between 2010 to 2020) of the use of personal care aides, which is significantly more substantial than the average for all occupations.
According to co-founder and Chairman of Home Instead, Inc., Paul Hogan, the increase in aging adults is escalating at a higher rate than the economy. Thus there is a very high demand for talented caregivers. And throughout the US the 600+ Home Instead Senior Care franchise locations are seeking tens of thousands of top quality caregiving professionals, most of which will be part-time positions which gives more flexibility to the workers.
Older Americans who are seeking out second careers are thus now in a good position. It is expected by the franchise of Home Instead that more mature workers will fill these roles. Indeed, right now approximately 30 percent of the employees are in the 60+ age group. This is a great way for those who want to retire, but still want to feel like they are a part of the workforce without having the intense pressure common to a regular 9 to 5 job.