November is over and the holiday season is well under way. In the news last month was Medicare and Medicaid, Alzheimer’s and Dementia, and the Corporate Transparency Act.
Alzheimer’s and Dementia News
More places are creating “dementia friendly” experiences. These experiences encourage people with an Alzheimer’s or dementia diagnoses and their caregivers to venture into the community and participate in social experiences. Restaurants, grocery stores, cafes, travel and even entire cities are offering these experiences. The accommodations special opening hours, simplified menus, specially trained workers and quiet spaces.
Also cropping up in the news are guides for how to make the holidays more enjoyable when celebrating with loved ones with dementia. For example, this article includes a holiday gift guide for people living with Alzheimer’s disease. Another example- the Alzheimer’s Foundation of America shares tips for having a great Thanksgiving. While Thanksgiving will have passed by the time this newsletter gets posted, many of the tips (like scheduling the celebration early, planning for help and preparing other guests prior to the celebration) are applicable to other upcoming holiday meals as well.
NPR released an article on how you may be able to reduce your risk of dementia. Healthy habits like eating well and exercising can help lower the risk of dementia. Weight-loss drugs like Ozempic have also been linked to lowering the risk of developing Alzheimer’s. Finally, a new study suggests that a nasal spray in development could delay Alzheimer’s progression by up to 15 years.
Medicare and Medicaid
In 2024, almost thirty three million Medicare beneficiaries enrolled in a Medicare Advantage plan, a private alternative to traditional Medicare. Looking to the future, a brief put out by KFF outlines the Medicare Advantage plans available for 2025.
The Biden Administration announced plans to provide Medicare coverage for weight-loss drugs. In the past, law has prohibited Medicare to provide weight-loss drugs for older Americans who are obese but do not have diabetes or a heart condition. The proposed rule would need to be finalized by the next administration.
President-elect Donald Trump has also announced that former surgeon and TV show host Dr. Mehmet Oz is his pick to lead the Centers for Medicare and Medicaid Services (CMS). CMS is part of the Health and Human Services, which the President-elect has picked Robert F. Kennedy Jr. to head.
Corporate Transparency Act Beneficial Ownership Reporting
The deadline to file your Beneficial Ownership Report is coming up quick! If you have an LLC, partnership, or any other type of company that required you to file paperwork with the Secretary of State, you may have to file a Beneficial Ownership Report under the Corporate Transparency Act. You can file the report online. It is due by the end of the year. Fines are steep for non-compliance so, make sure you do it.
The new reporting obligations also create new liabilities for fiduciaries. Trusts themselves are not generally considered reporting companies, but trusts that hold ownership interests as part of trust assets may still need to report. Fiduciaries of trusts holding ownership interests in businesses could face liability for failing to report accurate information, untimely filing or other failures to comply.
Other Stuff
- O2, a mobile phone company created an AI granny to combat phone scams targeting the elderly.
- Canada’s euthanasia laws allow for medically assisted death for people experiencing irremediable suffering. But, Canadian doctors are struggling with euthanizing vulnerable patients who may be suffering in ways not attributable to a terminal illness.
- Considering guardianship for a child with special needs before they turn 18? Read this first!
- ACTEC released a podcast discussing the pros and cons to having pictures included in a will to identify specific items of tangible personal property.
- A man was mistakenly declared brain dead and was being prepped to have his organs harvested when he woke up.
- Basketball star Charles Barkley spoke about his final disposition wishes- “I love living in Phoenix; I’m never leaving Phoenix alive.”
