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February 06, 2012
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Wills & Trusts News

 

Dramatic Decline in Disability Continues for Older Americans

Disability among older Americans is declining dramatically -- and at an accelerating pace, according to the National Long Term Care Survey (NLTCS). Moreover, the percentage of people age 65 and older with disabilities fell 1.6 percent per year from 1989-1994 and 2.6 percent annually from 1994-1999.

The improvements also are noteworthy for a newly observed decline in disability among black Americans and a decrease of at least 200,000 in the number of people estimated to live in nursing homes.

Researchers also are studying the broader implications of the decline in disability. For example, can continued reductions in disability help control costs for Medicare, Medicaid, or other health care expenditures? Kenneth G. Manton and XiLiang Gu examine one aspect of this question in the Proceedings of the National Academy of Sciences report, looking at the reduction in nursing home residence as one possible area of cost savings. If a nursing home stay costs about $47,200 per year, they note, the reduction in nursing home stays may have avoided several billion dollars in costs from 1994-1999.

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Common Terms

 


Today's Terms

Own Occupation (Own Occ)

Definition:
Under this definition, an insured will be considered disabled only if he or she is unable to perform the duties of his or her occupation.

Plan for Achieving Self-Support (PASS)

Definition:
Under an approved PASS, recipients of federal SSI may set aside income and/or resources over a period of time to reach a goal to become financially self supporting. The income and resources set aside may later be used to obtain occupational training or education, purchase occupational equipment, establish a business, etc.

Blind Work Expenses (SSI)

Definition:
If you are blind, when we determine your SSI eligibility and payment amount we do not count any earned income that you use to meet expenses in earning the income.

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Resource Center

 

 

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Hot Topics

 

  • Creating A Trust
  • Types Of Trusts
  • Modifying A Willl
  • Types Of Wills
  • Disinheriting Family
  • Selecting An Executor
  • Protecting Assests

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Vermont Wills & Trusts Attorney

 
If you live in the following cities and need a Wills & Trusts Attorney you should contact our Wills & Trusts Attorneys as soon as possible:

  • Barre
  • Bennington
  • Brattleboro
  • Burlington
  • Colchester
  • Essex Junction
  • Milton
  • Montpelier
  • Rutland
  • Saint Albans
  • South Burlington
 


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