Elder Abuse Epidemic

Every year approximately five million senior Americans are abused, neglected or exploited. Even worse, for every reported case another five go unreported. The reporting is even more troubling, when it comes to financial abuse cases. Just one in 14 of them are reported.

Against this backdrop, approximately $2.6 billion is stolen every year through elder financial abuse and exploitation. These statistics are likely to only get worse with 72 million baby boomers rapidly reaching their elder years. Even with all we know about elder abuse statistics, the public remains underinformed, when it comes to ways to avoid and prevent it.

Avoiding “IRS Scams”

According to federal government statistics, the most common scam perpetrated against the elderly in recent years is IRS Impersonation. Con artists pretend to be with the IRS when they call. They have targeted more than 2.1 million senior Americans and swindled some 12,300 of them out of a staggering total of $64.9 million.

These criminals typically prey on the elderly by accusing them of owing back taxes and penalties. If the targeted senior does not make an immediate payment, then the con artist threatens home foreclosure, arrest and deportation. To help seniors avoid this IRA scam, remember that the IRS never:

• Calls to demand immediate payment;
• Calls about taxes owed, without first mailing a bill to the taxpayer;
• Demands that a taxpayer pay taxes, without giving them the opportunity to question the amount owed;
• Asks for credit or debit card information over the phone;
• Threatens to have a taxpayer arrested; and
• Requires a taxpayer to use a specific payment method for taxes (like a prepaid debit card).

Therefore, what action should you take while on the phone with a suspicious IRS caller? Get the caller’s information and offer to call them back, after consulting with a trusted relative or an attorney. That should end the conversation and the scam.

Preventing Elder Abuse

In addition to these helpful reminders from the IRS, here are some additional elder abuse prevention pointers.

Did you know that many of those who abuse or neglect the elderly are family caregivers? Well-meaning and dedicated family members often fall prey to the stress of the physically and emotionally demanding responsibilities of caregiving. If you are a caregiver, do not go it alone. Find trusted family members or friends to help or at least give you a needed break. Contact an Aging Life Care Professional to help you find and engage various available local services, like adult day care.

If your senior family member is in a nursing facility, stay involved by monitoring their day to day care. Drop by unannounced at various times on different days of the week, to include meal time and bedtime. Look for signs of elder abuse or neglect. The most common signs are changes in appearance or mood. Contact an elder law attorney without delay, if you suspect foul play of any kind.

Remind your elderly loved one to be cautious, when making any major financial or legal decisions. What if he or she may have made a “mistake”? You should be sensitive and reassuring. An elder law attorney may help right a wrong. However, time is almost always of the essence.

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The “Daughter Syndrome”

Perhaps you know women who are taking care of their parents, in-laws or other loved ones. Many of these women are facing numerous challenges as caregivers, while trying to work full-time. There are roughly 44 million unpaid eldercare providers in the United States, according to the U.S. Census Bureau. Most caregivers are women. This reality is known as the Daughter Syndrome.

Syndrome Symptoms

This “syndrome” may begin when a woman helps rear her younger siblings. When she then becomes a “mother” to children of her own, a woman rears them to adulthood. After her children are adults and the nest is empty, this “daughter” may care for her parents or in-laws in their later retirement years. This assistance may include providing support, while these senior loved ones are still living independently, transporting them to doctor appointments, running errands for them and helping them with the upkeep of their homes. The daughter may later need to help transition parents or in-laws to other living arrangements, such as an assisted care facility. Since women tend to outlive men, a woman will likely care for her husband until his death.

Financial Symptoms

One of the direct consequences of the daughter syndrome is financial. Did you know these caregiving women lose an average of $324,044 in compensation due to their “uncompensated” services, according to a study from MetLife and the National Alliance for Caregiving? The medical journal JAMA Neurology recently discussed a looming crisis for women and their employers—the increasing number of dementia patients who will end up relying on family members for their care.

Career Consequences

A report by the Alzheimer’s Association found that employed women, who are caregivers, are seven times more likely than men to drop from full-time to part-time employment because of caregiving duties. Along the way, women are more likely than men to take a leave of absence from work, forfeit employment benefits because they reduce their hours or simply stop working altogether.

A survey of 1,001 working women aged 45 to 60 who are not self-employed and are caregivers for at least one parent and/or in-law in the United States or Canada, revealed additional concerns. About 50% of respondents believe that they must choose between being a good employee and being a good daughter, 25% feel there is a stigma associated with taking time off from work to care for a parent, 23% say their bosses were unsympathetic, when it comes to balancing work and caregiver responsibilities, 13% have been passed over for a promotion or raise and 9% believe their positions are in jeopardy because of their caregiving responsibilities. Not surprisingly, the average caregiver daughter uses 29% of her paid time off to meet her caregiving responsibilities.

Personal Priorities

Eventually, this “daughter” finds herself the last leaf on her generational tree. Those for whom she previously provided care, have already passed away. No one is left to care for her, when she needs help. If she has any brothers or sisters, they may be retired and trying to navigate their own elder care plans. Her adult children may be spread around the country, and there may be no one nearby to assist.

This stark reality is the reason why every woman needs her own plan for quality long-term care and the money to pay for it. Long-term care insurance can assure quality care, when there is no family caregiver for the caregiver herself. The best time to apply for coverage, is when you are healthy and do not need it.

© 2018 Integrity Marketing Solutions. All Rights Reserved.