What We’re Following Today October 29, 2020: elder topics


The Mounting Cost of Isolation in the Community Most at Risk


This article on NBC news caught my eye and in light of recent news about mounting Covid cases and hospitalizations, the thought about the cure being worse than the problem does actually have at least some merit. While none are downplaying the severity of the Covid 19 virus, particularly for our elder community this piece walks through very real problems associated with isolation and lack of contact among family members of elders (particularly those in external care situations). I truly hope we find some solutions for family members soon. If you read through this article you’ll hear some of the cases where lockdown may have contributed to death and/or feelings of guilt among those who lost loved ones without being able to see them.


https://www.nbcnews.com/news/us-news/hidden-covid-19-health-crisis-elderly-people-are-dying-isolation-n1244853


You Real What You Sow


Huge fraud scheme being taken on by the feds that dealt with elder scams around “magazine” subscriptions. This isn’t the sexy scams we hear about like romance scams or identity theft. This looks much more innocent on its face but the cumulative effect is massive. And for those who were complicit in the exercise they face serious charges ahead of them. It’s a sad state, but with humans we always have to be somewhat guarded and be willing to do our homework on deals etc. this particular scam walked the tight rope of legitimacy. It will be interesting to see how this plays out.

https://www.kare11.com/article/money/consumer/60-charged-in-massive-elder-fraud-scam/89-5dfd35e2-3132-4148-8631-cbb2856e6457

Get Schooled Up on Potential Social Security Impact of Pandemic


As we whirl around ideas of more lock downs and such something we should be paying attention to is how this environment might impact things like Social Security. There are always voices out there that warn of the programs collapse in the future and there are other voices that assure people that it will survive. But one thing we all have to remember is that social security is funded through taxes withheld from those working. As unemployment remains high, that will reduce the amount of money collected to fund social security being paid out. It requires money to be input for the output to benefit retired individuals.

I found this article helpful in understanding potential pit falls and things that could accelerate these put falls based on a pandemic environment that has higher unemployment, less overall revenues and more. When contemplating lock downs, we have to remember that the impact of all the taxes “not” collected could have long lasting impact on programs like Social Security or other programs funded through government tax programs.


https://www.pgpf.org/blog/2020/10/how-will-the-coronavirus-pandemic-impact-social-securitys-finances-heres-what-four-different-analyses-say

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