Law Office of Neil P. Thompson
Law Office of Neil P. Thompson
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    Suite 300
    Bloomington, MN 55425
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Senior Living

Seniors Receive Increased Protection From Financial Abuse In The Economic Growth, Regulatory Relief, And Consumer Protection Act
  • By: Neil P. Thompson, Esq.
  • Published: September 22, 2021

The Economic Growth, Regulatory Relief, and Consumer Protection Act provides seniors with more protection from financial abuse. The Act contains a section that was once a stand-alone bill from Sen. Susan Collins (R-Maine) which is designed to encourage the reporting of elder (age 65 and older) financial abuse witnessed by financial institutions. The Act does not mandate that these institutions report financial abuse directed towards elders to avoid penalties, rather it gives them an incentive to do so. The Act provides immunity from any lawsuit alleging elder financial abuse if the financial institution reports it to state or federal law enforcement agents. To qualify for immunity, a financial institution has to create and administer a training program for employees to teach the employees how to spot elder financial abuse. This Act provides immunity to financial…Read More

Options For Senior Living Depend On The Level Of Care Needed
  • By: Neil P. Thompson, Esq.
  • Published: September 15, 2021

As we grow older, senior living options vary widely based on what level of care is required. Available options are tied to the resources a senior has to cover living costs, and vary widely in cost, assistance, and care provided. In addition to budget considerations, seniors must also realistically consider the needs they have and what senior living option best fits those needs. Nursing Homes Nursing homes, or skilled nursing facilities, are one option for senior living. These facilities are for seniors who can no longer live independently. They provide care for seniors with illnesses or mental conditions that cause them to require monitoring and medical care on a full-time basis. For example, many nursing home patients have dementia, are confined to a wheelchair, or spend most of their time in bed. Their conditions require…Read More

The FDA Approves New Alzheimer’s Drug
  • By: Neil P. Thompson, Esq.
  • Published: September 8, 2021

The US Food and Drug Administration (FDA) recently approved a new drug under the trademark Aduhelm™ to treat Alzheimer’s disease. The drug, Aducanumab, is a therapeutic drug that clinically demonstrates a potential to delay further decline from Alzheimer’s disease and is also the first FDA approval for a drug that does more than address the symptoms. This drug therapy can target the fundamental pathophysiology of Alzheimer’s disease. In clinical studies, Aducanumab demonstrates an ability to remove amyloid plaque from the brain, delaying the disease’s progression. Understanding Aducanumab For Treat Alzheimer’s Disease Patients Multi-national pharmaceutical company Biogen (Corporate Headquarters Cambridge, MA International Headquarters in Baar, Switzerland) has been researching and developing approaches to treat Alzheimer’s patients for over a decade, according to CEO Michel Vounatsos. The hope is this drug can help those diagnosed with the…Read More

Military Benefits That Could Help You
  • By: Neil P. Thompson, Esq.
  • Published: July 28, 2021

Veterans have several educational and health care benefits offered through the Tricare and GI Bill by The US Department of Veterans. Even with these programs that help veterans and their families, other little-known services can improve their lives and ease the financial burden of medical care and other expenses. Check your veteran status to see if you qualify for the following ten benefits: Long-Term Care It is well documented that long-term care is expensive, but it is often necessary to provide aging relatives. Through the Aid and Attendance program, many veterans can receive money that covers the cost of assisted living programs, nursing homes, and other long-term care facility options. Currently, couples can receive up to $25,020 annually, which can defray a significant portion of the costs associated with long-term care. A veteran’s surviving spouse…Read More

Workforce Opportunities For Older Americans
  • By: Neil P. Thompson, Esq.
  • Published: July 14, 2021

Many older Americans are willing and able to work, however, in April 2020 the unemployment rate for eligible workers 55 and older increased to 13.6 percent. COVID-19 restrictions and associated layoffs account for some unemployment increases, but so does the lack of employment opportunities among older Americans. A coexisting challenge in the US is that senior living facility operators struggle to retain a reliable workforce to provide care to their senior residents. Other American industries can also benefit from increasing older workforce opportunities, such as manufacturing and the foodservice/hospitality industry, where they face labor shortages. Helping older Americans retool skills that address specific market labor shortages solves two problems with one group of workers. Senators Bob Casey (D-PA) and Tim Scott (R-SC) may simultaneously solve helping older workers find employment and the senior living industry’s…Read More

Factors Identified To Play A Role In Alzheimer’s
  • By: Neil P. Thompson, Esq.
  • Published: June 30, 2021

Alzheimer’s disease is a type of dementia that triggers difficulties with memory, thinking, and behavior according to the Alzheimer’s Association. Symptoms usually develop slowly and get worse over time, becoming severe enough to interfere with daily tasks. Alzheimer’s affects a growing number of people. There are several factors known to play a role in Alzheimer’s. Let’s look at these factors both positive and negative. Age Age is one of the biggest factors to consider when discussing Alzheimer’s disease. Symptoms generally begin for most after the age of 65. However, the proteins that damage the brain can begin taking a toll on the patient well before symptoms appear. The Alzheimer’s Association reports that after the age of 65, the risk of Alzheimer’s disease doubles every five years. Alzheimer’s disease is associated with old age, but early-onset…Read More

Ways To Finance In-Home Care
  • By: Neil P. Thompson, Esq.
  • Published: June 23, 2021

In-home care is the preferred living arrangement for many aging seniors. However, many medical conditions and personal care needs as adults age can cause this to become more difficult due to cost. The cost of in-home care varies from place to place, but generally follows the cost of living. Places where the cost of living is lower usually have lower costs for in-home care and the opposite is also true. In areas with a higher cost of living, in-home care is generally more expensive. Another challenge of paying for in-home care is the strict limitations on using Medicare and Medicaid to pay for in-home care. However, it is possible to pay for in-home care. Let’s look at some of the options. Medicare And Medicaid Although these two options are more limited in the in-home care…Read More

Points To Discuss With Your Aging Parent
  • By: Neil P. Thompson, Esq.
  • Published: October 14, 2020

Your parent is getting older and you are uncertain if there is a plan in place for their future care. It is a difficult topic to broach; no one wants to talk about death and the financial realities that come with aging. Instead of having a proactive conversation early in a parent’s aging process most families have a reactive discussion under high levels of stress and emotions while their parent is experiencing an adverse health event. The Public Broadcasting Service (PBS) has reported that 85 percent of time long-term care decisions are made during a medical crisis. The message is clear, be proactive and start discussing the important financial questions with your parent. Prepare Yourself Your parent will feel more comfortable and at ease if you have processed your feelings before talking to them. Conduct research…Read More

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