November 12th, 2008

A form of vitamin B3, Nicotinamide has been found to get rid of Alzheimer’s disease-related memory problems in lab mice, according to new research. Vitamin B3 is available over the counter at a low price.

The study showed that when mice that were bred to exhibit symptoms of Alzheimer’s received the human equivalent of two or three grams of B3, they acted as if they had never developed the disease, said one University of California researcher.

The vitamin acts in the brain to clear tau “tangles,” of Alzheimer’s disease. While the vitamins are available over the counter and are relatively safe, researchers warn that high doses such as the ones used in the study could potentially be dangerous. Researchers are currently enlisting people for human trials. Their research appears in the November 5 online version of the Journal of Neuroscience.

November 12th, 2008

As demand for hospice care has increased, so have the number of programs nationwide. Today, there are about 4,700 providers, up from about 3,300 five years ago, according to NHPCO. While the majority of providers are nonprofits, the for-profit sector is growing, accounting for 47.1 percent of hospice agencies last year.

Hospice is intended for any person who has a terminal illness and a prognosis of six months or less to live. Depending on the needs of each patient, care can include pain management, medications, medical supplies and equipment, and assistance with the emotional, psychological, and spiritual aspects of dying. A hospice team usually consists of nurses, home health aides, social workers, bereavement counselors, and clergy, as well as a hospice physician and the patient’s personal physician.

The benefit for Medicare and Medicaid patients is remarkably magnanimous. Medicare pays out $601 per patient per day for inpatient hospice care (and $789 per day for the typical patient who gets 24-hour home care), yet there are no copays, deductibles, or out-of-pocket expenses for the beneficiary. Private insurer hospice benefits offer a variety of hospice services, though they’re typically not as generous, according to the Hospice Association of America. To get Medicare or private insurance to cover hospice care, a patient needs only a physician’s referral. Hospice care is usually provided in the patient’s home. It can also be made available at a special hospice residence designed with a homelike atmosphere, or in assisted living or skilled nursing facilities.

November 4th, 2008

The Senior Lending Network(R), a leader in reverse mortgages, announced today the company is further developing and strengthening its brand to reflect its new tagline, “We can change your life.” In line with this strategy, Senior Lending Network also is introducing an enhanced logo, which better reflects its trustworthy reputation and consolidates all of its sub-brands under the Senior Lending Network name.

“We are committed to helping seniors,” stated David Peskin, chief executive officer of Senior Lending Network. “And we believe this updated brand reinforces the strength and stability of our company. These days, with current economic conditions as they are, we are seeing more seniors turn to Senior Lending Network to change and improve their lives.
We anticipate that the need for a Senior Lending Network reverse mortgage will continue to increase, especially as more and more baby boomers turn 62.”

This brand evolution is the result of one-on-one interviews with customers, partner brokers and staff, to understand why homeowners seeking reverse mortgages choose Senior Lending Network over other lenders. The interviews revealed that the ‘Senior Lending Network’ name is well known and highly regarded, and seniors have an emotional connection to receiving a reverse mortgage from this established brand.

To consolidate its position as one of the most trusted lenders for reverse mortgages, the company is simplifying its sub-brand structure to one brand: World Alliance Financial Corp. is now Senior Lending Network (for the Corporate and Retail Divisions); Lender Lead Solutions is now Senior Lending Network (Wholesale Division) and Lender Lead Solutions University is now Senior Lending Network University. The company also will continue to work with Robert Wagner, a trusted spokesperson whose reputation resonates with both seniors and their caregivers.

The company hopes these changes will further strengthen the relationship between seniors and Senior Lending Network.

November 4th, 2008

Slipping and falling can cause more than just a cut orbruse.Tumbles are costing Albertans some serious coin.

The province says it wants to change that.Today, it’s launching Finding Balance, an awareness campaign aimed at educating seniors on the importance of leading healthy lifestyles.The program will include lessons on improving health and wellness, as well as tips on making homes safer.

“Those who have cared for parents or grandparents know that as seniors age they are more likely to fall and suffer an injury,” Premier Ed Stelmach said in a news release.

“In fact, falls are the leading cause of injury-related hospital admissions for older Albertans, so this campaign focuses on educating our seniors in avoiding the potentially very serious consequences of losing their balance.”

According to the Alberta Centre for Injury Control and Research, seniors falling cost the Alberta economy almost $88 million in 2003.

At that rate, the figure could swell to $250 million by 2033, the province warns.

In 2006, tumbles led the charge of injury-related hospital visits, officials said. About 20 such admissions were logged in Alberta each day.

Of course, saving cash isn’t the only concern, said ACICR’s associate director.

Kathy Belton said those involved in the initiative will likely lead to a healthier flock of seniors who will be able to enjoy independence and a higher quality of life.

October 31st, 2008

As the leader in the group long term care market, Unum provides an annual review of sales and claims trends each fall in recognition of Long Term Care Awareness Month in November.

“We carefully track these trends so we understand the needs of our customers,” said John Noble, director of long term care products for Unum. “More people expect to be able to receive care at home, and making that possible is an important element of long term care coverage.”

Of Unum’s inforce policies, 93.4 percent are purchased to cover some type of home care. And nearly 70 percent of Unum’s group customers use their long term care benefits for care that occurs in the home.

Unum holds 76 percent of the group long term care market and has ranked No. 1 in the industry in terms of inforce cases and insured individuals for the past three years. In 2007, Unum covered 653,038 people under its long term care policies.
Further analysis of the group long term care sales data reveals:

– Women represent the majority (52 percent) of the purchasing population.
– The average age of a purchaser of a group long term policy is 43.5.
– Unum experienced a 37-percent increase in new long term care cases sold in 2007 compared to 2005.
– The top five industries purchasing group long term care insurance are law firms, physicians, insurance brokerages, management consulting services and engineering firms.
– The top five states purchasing long term care insurance are California, Florida, Ohio, Texas and Georgia.

Unum revealed in last year’s Landscape of Long Term Care a dramatic increase in employer-funded policies. The trend continued into 2007, with 90 percent of new group long term care cases being employer-funded.

This year, Unum reveals insight into those businesses. More than 53 percent of employers offering long term care coverage have 250 employees or fewer. More than 36 percent of those employers have fewer than 100 employees.

“We continue to see the smaller to mid-level employers willing to offer long term care coverage to their employees and also fund some of the cost,” said Noble. Unless referenced otherwise, the statistics included in this news release are based on Unum internal data as of 2007.

October 31st, 2008

Nursing home costs in Hawaii are 44 percent higher than the national average, according to a new report from MetLife.

A private room at a nursing home costs $306 a day in Hawaii, compared to the national average of $212 a day.

The 2008 MetLife Market Survey of Nursing Home and Assisted Living Costs found that the nationwide average rates for a private room in a nursing home remained almost unchanged from 2007.

Alaska had the highest daily average at $577. Meanwhile Louisiana had the lowest at $127 a day.

The monthly average rate for assisted-living communities in Hawaii is nearly 18 percent higher than the national average, according to the report.

Assisted-living communities in Hawaii cost on average $3,566 a month, compared to $3,031 nationwide. Southern Maine had the highest average monthly base rate at $4,708, meanwhile North Dakota had the lowest rate at $1,980.

October 31st, 2008

The average daily cost of a private room in a nursing home in the United States stayed essentially the same as last year, according to the 2008 MetLife Market Survey of Nursing Home & Assisted Living Costs. The average rate for a private room is $77,380 a year, or $212 a day, an increase of one dollar from last year. Meanwhile, assisted living costs increased 2.1 percent from an average of $2,969 monthly or $35,628 annually in 2007, to $3,031 monthly or $36,372 annually in 2008.

The survey also reports on the cost of a semi-private room in a nursing home, which increased 1.1 percent to $191 a day, or $69,715 a year, a 3 percent increase over last year.

Once again, the highest rates for a private nursing home room in 2008 were found in Alaska, where the cost is $577 a day on average. The lowest rates were found in the non-metropolitan and non-suburban areas of Louisiana, at $127 a day. The cost of assisted living was the highest in southern Maine at $4,708 per month and the lowest in North Dakota at $1,980 per month.

October 31st, 2008

New rules passed by Congress this summer and set to take effect Nov. 1 have beefed up the federally insured reverse-mortgage program, raising loan limits and lowering origination fees. Called Home Equity Conversion Mortgages (HECM), these loans let seniors age 62 or older tap into the value of their home to get tax-free cash.

To be sure, the timing of the rule changes comes amid a maelstrom in the overall mortgage and housing markets. But industry experts say that lenders are still providing HECMs, which are insured by the Federal Housing Administration (FHA).

In contrast, reverse mortgages built and backed by private lenders are in short supply. According to those who work in the reverse mortgage industry, HECMs account for more than 90 percent of the reverse-mortgage market and currently represent about 99 percent of reverse mortgages being made.

Until a recent slowdown in their growth, HECMs’ popularity had been soaring, especially during the mid-decade years. Yet, their market penetration remains only about 1 percent of those eligible to receive them.

Reverse mortgage loans are based on a person’s home as collateral, not on their income or creditworthiness. The loan can be obtained as a lump sum, line of credit, monthly payments, or a combination of these ways. The money is not repaid until after the homeowner dies or otherwise permanently leaves the house. After that, the borrower or his heirs repay the loan, plus compounded interest on it. But the size of the repayment cannot exceed the home’s value.

The actual size of a reverse-mortgage loan depends on the age of the borrower, the value of the home, closing costs, and current interest rates. Generally, the older the borrower, the more valuable the home, the lower the interest rate, the more money a reverse mortgage can provide.

Experts say the new rules more closely align HECMs with today’s home values while boosting safeguards for elder borrowers. Among the key provisions:

•Loan limits will be raised to $417,000 nationally, versus the prior limit, set on a county-by-county basis, ranging from $200,160 to $362,790.

•Origination fees will be capped at 2 percent on the first $200,000 and 1 percent on any amount above that, with a inflation-adjustable limit of $6,000. The prior cap was 2 percent of any loan amount.

•HECMs can be used to contribute to the purchase of a new residence – an option that may be popular with seniors who want to downsize their living space.

•HECMs can be obtained on co-operative properties. Previously, reverse mortgages were limited to single-family houses, townhouses, and condominiums.

•Beefed up consumer protections. Some seniors have complained about being urged to use their loan money to buy other financial products – annuities, life insurance, long-term care insurance – that were either inappropriate or they didn’t need. To address such abuses, reverse-mortgage lenders will be barred from selling other financial products to its customers.

Most aspects of the latter three changes will take affect in the coming months.

October 15th, 2008

According to China’s official media, the senior population over 60 years old has reached 149 million. Many rest homes in large cities have few available beds. Population control programs have significantly reduced the number of children able to support older family members.

China News Web reported that the senior population over 60 years old in China accounts for 21.4 percent of the world’s senior population, ranking first in the world. At the beginning of the 1990s, 10 young people supported one elderly person in China. However, the ratio now is three-to-one. Because the Chinese Communist Party (CCP) has imposed the one-child policy for decades, both elderly parents rely on one child. So the resources for senior care are diminishing in every family.
A survey showed that 20 percent of the elderly wish to live in rest homes. However, the current number of beds in rest homes can only provide for less than one percent of the total senior population.

In early 2006, there were more than 39,500 organizations and 1,497,000 beds for the elderly in China, which included social welfare homes, homes for the elderly, nursing homes, elderly apartments, and elderly care homes, including more than 29,680 rest homes and 895,000 beds in rural townships.
Shanghai is the first city in China to become an ‘aging’ city. It has nearly 3 million people over 60 years old, which is more than 20 percent of the city’s total population. This is nearly twice the national average. Many elderly people wish to enter their favorite rest homes, but actually, it is not easy.

It is reported that although the beds provided by Shanghai’s relevant organization had already been occupied long ago, there are still over 1,000 elderly people waiting for a room. Beijing has the same problem. It will require 20 years to solve the problem.

In addition, the aging population in Tianjin City has also been rapidly increasing in recent years. According to statistics, there are 1.56 million people over 60 years old in Tianjin, which accounts for 16.3 percent of city’s population, much higher than the national average of 11.6 percent. Among these elderly, nearly 160,000 need to live in rest homes, but there are less than 20,000 beds in the whole city. The supply is far less than the demand.
In China, the majority of elderly people live at home, especially in rural areas. Since the seniors have relatively less financial capability, the high cost of rest homes is a major restraint for living in a care facility.

October 15th, 2008

A new study found that vitamin B supplements don’t slow cognitive decline in patients with mild to moderate Alzheimer’s disease.

The theory was that vitamin B might slow the progression of Alzheimer’s symptoms because the nutrient lowers homocysteine levels, which are elevated in people with the disease. Homocysteine is an amino acid produced by the body and has also been linked to an increased risk of heart disease.

“The results of the study indicate that we were successful in lowering homocysteine levels, but this did not translate into cognitive or clinical benefits,” said lead researcher Dr. Paul S. Aisen, a professor at the University of California, San Diego, Department of Neurosciences. “The disappointing conclusion is that high-dose B vitamin treatment is not helpful in Alzheimer’s disease.”

Aisen thinks this study clearly demonstrates that people should not be taking vitamin B thinking it will combat the disease.

“This treatment is not useful and should not be recommended,” Aisen said. “Because Alzheimer’s disease is one of the major health-care problems in this country and worldwide, and because our current treatments are not adequately effective, many people are seeking alternatives, and one alternative has been to use vitamin therapy.”

The findings were published in the Oct. 15 issue of the Journal of the American Medical Association.

For the study, Aisen’s group randomly assigned 409 people with mild to moderate Alzheimer’s disease to high doses of folate, vitamin B6 and B12 or a placebo. The researchers then measured the rate of cognitive decline using the Alzheimer’s Disease Assessment Scale.

Over 18 months, they found that although vitamin B reduced homocysteine levels, there was no reduction in the rate of cognitive decline among patients taking the supplements. In fact, there was no significant difference in the scores on the Alzheimer’s Disease Assessment Scale among those taking supplements and those receiving a placebo.

Interestingly, the people taking high-dose vitamin B supplements had more symptoms of depression than those taking a placebo, the researchers noted.

Dr. Sam Gandy, chairman emeritus of the Alzheimer’s Association Medical and Scientific Advisory Council, said this study should put an end to the idea that lowering homocysteine levels helps Alzheimer’s patients.

“Since cerebrovascular disease pathogenesis and that of Alzheimer’s disease bear some relationship to each other, the hypothesis was put forward that if people were given B vitamin supplements to control their blood homocysteine, then this might lower the incidence of both stroke and Alzheimer’s disease,” he said. “Sadly, for the latter at least, the hypothesis has been rejected: Even among those with elevated homocysteine levels that were normalized with B vitamins, there was no obvious benefit in terms of lowering the risk for Alzheimer disease.”

Like similar studies with antioxidants, anti-inflammatory drugs and estrogen, this study suggests that treating the risk factors for Alzheimer’s after the patients have established disease is not useful and may even be harmful,” he said.

Pamela Mason, a spokeswoman for the Health Supplements Information Service, cautioned that vitamin B is a dietary supplement, not a drug, and shouldn’t be expected to perform like a drug.

“This is yet another study attempting to use high-dose vitamin supplements like drugs in the treatment and prevention of disease,” Mason said in a news release. “B vitamin supplements are not intended to be taken like drugs to prevent or treat Alzheimer’s disease. People should not be taking them for this purpose. They are health supplements, and their role is in helping to maintain good health, particularly in those large numbers of adults whose dietary intake is low. This study, like many other recent studies evaluating vitamins, does not address the issue of health maintenance.”