What can you tell me about reverse mortgages? The damage to my retirement account from the coronavirus has me considering it but want to make sure I know what I am getting into.

Massive job losses, a volatile stock market and low interest rates caused by the coronavirus pandemic have caused many cash-strapped retirees to consider a reverse mortgage. But there are many things to consider to be sure it is a good option for you now.

A reverse mortgage is a unique type of loan that allows older homeowners to borrow money against the equity in their house (or condo). To be eligible for a reverse mortgage, you must be 62 years of age or older, own your own home (or owe only a small balance) and currently be living there.

The loan does not have to be repaid until the homeowner dies, sells the house or moves out for at least 12 months. At that point, you or your heirs will have to pay back the loan plus accrued interest and fees.

It is also important to understand that you, not the bank, owns the house. You are still required to pay the property taxes and homeowners insurance. If you do not pay, you may face a foreclosure.

You will need to undergo a financial assessment to determine whether you can afford to continue paying your property taxes and insurance. Depending on your financial situation, you may be required to put part of your loan into an escrow account to pay future bills. You will likely be denied a reverse mortgage if the financial assessment finds that you cannot pay your insurance and taxes and have enough cash left to live on.

Loan Details

Around 95% of all reverse mortgages offered are Home Equity Conversion Mortgages (HECM), which are FHA insured and offered through private mortgage lenders and banks. HECMs have home value limits that vary by county, but cannot exceed $765,600 in 2020.

The loan amount you can receive through a reverse mortgage depends on your age (the older you are the more you can get), your home's value and the prevailing interest rates. Generally, most people can borrow somewhere between 50% and 60% of the home's value. To estimate how much you may be able to borrow, you can use an online reverse mortgage calculator. The loan amount can be paid as a lump sum, a line of credit, regular monthly checks or a combination of these.

Beware! Reverse mortgages are not cheap. HECM loans require a 2% upfront mortgage insurance payment, plus an additional 0.5% annual charge, in addition to origination costs and lenders' fees. Any amount you borrow, including these fees and insurance, accrues interest, meaning your debt grows over time.

To learn more, read the National Council on Aging's online booklet "Use Your Home to Stay at Home" at NCOA.org/home-equity.

Also note that because reverse mortgages are complex loans, all borrowers are required to get counseling through a HUD approved independent counseling agency before taking one out. Most agencies charge between $125 and $250 for the counseling. To locate one near you, visit Go.usa.gov/v2H, or call 800-569-4287.

Other Options

If you have a short-term need for cash, there are other options you may want to pursue. For example, many low-income seniors do not realize they qualify for the Earned Income Tax Credit, a refundable tax break that can put cash in your pocket. You also could use BenefitsCheckUp.org to search for financial assistant programs you may be eligible for.

A charitable alternative to a reverse mortgage is combining a life estate reserved with a charitable gift annuity. You would receive an immediate charitable income tax deduction and charitable gift annuity payments for the rest of your life at an attractive fixed rate.

To create a charitable gift annuity using your home, you would deed your home to a charitable organization as a remainder interest and retain a life estate. The life estate deed would provide you the right to use your home for the rest of your life. You will be required to maintain the property in good condition and pay the property taxes and homeowners insurance with this option as well. When you pass away, the home would belong to the charitable organization and will benefit the charitable mission of that organization.

Another possibility is a regular home equity loan or line of credit. This type of borrowing requires you to make regular payments. Lenders can freeze or lower limits on lines of credit, but the borrowing costs are much lower.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act waived the requirement to take a required minimum distribution (RMD) in 2020. This closely followed the SECURE Act, which recently changed the age for RMDs from 70½ to 72.

The required minimum distribution (RMD) applies to most retirement plan owners over age 72. Because the 2020 RMD was calculated based on the December 31, 2019 value when the markets were at a high level, Congress decided RMDs should be waived for 2020. The 2020 RMD waiver also applies to inherited IRAs. The RMD for IRA owners over age 72 will resume in 2021.

Fortunately, the IRA charitable rollover is still available for IRA owners over age 70½. While it does not fulfill the 2020 RMD because of the waiver, there are reasons many loyal donors will make IRA charitable rollovers, also known as qualified charitable distributions (QCDs) in 2020.

An IRA charitable rollover is a convenient way to make a gift in 2020. Many friends of nonprofits have IRA balances that have recovered from the March downturn. By fall 2020, these IRA balances may be an attractive source for loyal donors to use for charitable gifts. IRA owners may contact their IRA custodians to arrange a transfer directly to a favorite nonprofit.

Each IRA owner over age 70½ may give up to $100,000 per year in QCD gifts. The gifts are made to public charities for the general fund or a designated purpose. They may not be made to a donor advised fund, supporting organization or life income plan.

The QCD is not included in taxable income so there is no charitable deduction. It is simply a convenient way to support a favorite nonprofit. Many donors have made QCD gifts in past years and will choose to make the same IRA gift this year. In a year when the nation needs all of the services of the nonprofit community to help those in need, an IRA charitable rollover gift is an excellent way to help.

My 80-year-old mother, who lives alone and is self-isolating during the coronavirus pandemic, has fallen several times. Are there any extra precautions you recommend that can help prevent this?

Falls are a common concern for many elderly adults and their families, especially during the coronavirus pandemic when many seniors are sheltering at home alone.

Each year, more than 1 out of 4 older Americans fall, making it the leading cause of both fatal and nonfatal injuries for those age 65 and older. Many falls can be prevented. Here are some different tips that can help prevent it.

Encourage exercise: Weak leg muscles and poor balance are two of the biggest risk factors that contribute to falls. Walking, strength training and tai chi are all good for improving balance and strength. There are a number of balance exercises your mom can do any time, such as standing on one foot for 30 seconds then switching to the other foot and walking heel-to-toe across the room. She should consult with her physician prior to undertaking any new exercise regimen.

Review her medications: Does your mom take any medicine, or combination of medicines, that may make her dizzy, sleepy or lightheaded? If so, make a list or gather up all the drugs she takes – prescriptions and over the counter – and contact her doctor or pharmacist for a drug review and potential adjustment.

Get a vision test: Poor vision can be another contributor to falls. Your mom should get her eyes checked once a year and update her eyeglasses when needed. Also be aware that wearing bifocals or progressive lenses can increase the risk of falling, especially when walking outside or going down steps. These lenses can affect depth perception, so she may want to get a pair of glasses with only her distance prescription for outdoor activities.

If your mom is concerned about a visit to her eye doctor during the pandemic, she can get her vision tested online. Put a call in to her eye doctor about this option, or consider some online vision testing sites.

Fall-proof her home: There are a number of simple household modifications you can do to make your mom's living area safer. Start by helping her arrange or move the furniture so there are clear pathways to walk through. Also, pick up items on the floor that could cause her to trip, such as newspapers, shoes, clothes and electrical or phone cords.

If she has throw rugs, remove them or use double-sided tape to secure them.

In the bathroom, use non-skid rugs for the floors and a rubber suction-grip mat or adhesive non-skid tape for the floor of the tub or shower. Install grab bars in and around the tub or shower for support.

Also, make sure the house is well lit. Inexpensive plug-in nightlights for the bathrooms and hallways can help with lighting. If she has stairs, ensure handrails are installed on both sides.

For more tips, see the NIA "fall-proofing your home" web page at NIA.NIH.gov/health/fall-proofing-your-home.

Choose safe footwear: Going barefoot or wearing slippers or socks at home can also increase the risk falls, as can wearing backless shoes, high heels and shoes with smooth leather soles. The safest option for your mom is rubber-sole, low-heel shoes.

Purchase some helpful aids: If your mom needs some additional help getting around, a cane or walker may help. Also, to help ensure your mom's safety and provide you some peace of mind, consider getting her a medical alert device that comes with a wearable emergency button that would allow her to call for help if she were to fall or need assistance.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

My aunt recently asked me to be the executor of her will when she passes away. I am flattered that she asked, but I am not sure what exactly the job entails. What can you tell me about this?

Serving as the executor of your aunt's estate may seem like an honor, but it can also be quite a bit of work. Here is what you should know to help you prepare for this job.

As the executor of your aunt's will, you will essentially be responsible for winding up her affairs after she dies. While this may sound simple enough, you need to be aware that the job can be time consuming and difficult depending on the complexity of her financial and family situation. Some of the duties required include:

• Filing court papers to start the probate process (this is generally required by law to determine the will's validity).
• Taking an inventory of everything in her estate.
• Using her estate's funds to pay bills, including taxes, funeral costs, etc.
• Handling details like terminating her credit cards and notifying banks and government agencies, such as Social Security and the post office of her death.
• Preparing and filing her final income tax returns.
• Distributing assets to the beneficiaries named in her will.

Be aware that each state has specific laws and timetables on an executor's responsibilities. Your state or local bar association may have an online law library that details the rules and requirements. The American Bar Association website also offers guidance on how to settle an estate. Go to AmericanBar.org and type in "guidelines for individual executors and trustees" in the search bar to find it.

Get Organized

If you agree to take on the responsibility as executor of your aunt's estate, your first steps are to make sure she has an updated will and find out where she keeps all her important documents and financial information. Being able to quickly locate deeds, brokerage statements and insurance policies after she passes away will save you a lot of time and hassle. These are great conversations and questions to ask your aunt.

If she has a complex estate, you may want to hire an attorney or tax accountant to guide you through the process. The costs to hire an attorney or tax accountant may be paid from your aunt's estate. If you need help locating a professional, the National Association of Estate Planners and Councils (naepc.org) and the National Academy of Elder Law Attorneys (naela.org) are good resources that provide directories on their websites to help you hire someone.

Avoid Conflicts

Find out if there are any conflicts between the beneficiaries of your aunt's estate. If there are some potential problems, your job as executor can be much easier if everyone knows in advance who is getting what, and why. It may be a good idea to ask your aunt to tell her beneficiaries what they can expect from her estate. This includes personal items because wills often leave it up to the executor to distribute heirlooms. If there is no distribution plan for personal property, suggest she draft one.

Executor Fees

As the executor, you are entitled to a fee paid from the estate. In most states, executors are entitled to take a percentage of the estate's value, which often ranges anywhere from 1 to 5% depending on the size of the estate. However, if you are also a beneficiary, it may make sense for you to forgo the fee. Executor fees are taxable, but most states do not tax income from an inheritance.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

I understand that COVID-19 hits smokers a lot harder than nonsmokers but quitting at my age is very difficult. Does Medicare offer any coverage that helps beneficiaries quit smoking?

Smokers and individuals who vape have a higher risk of severe COVID-19 complications because the coronavirus attacks the lungs. That is why quitting now is more important than ever before.

If you are a Medicare beneficiary, you will be happy to know that Medicare Part B covers up to eight face-to-face counseling sessions a year to help you quit smoking. If you have a Medicare Part D prescription drug plan, certain smoking-cessation medications are covered too. Here are some other tips that can help you kick the habit.

It Is Never Too Late

According to the Centers of Disease Control and Prevention (CDC), 12.5% of Medicare beneficiaries smoke. Many older smokers indicate that they would like to quit, but because of an addiction to nicotine, it is very difficult to do.

Tobacco use is the leading cause of preventable illness, responsible for an estimated one-fifth of deaths in the United States each year. Research shows that quitting, even after age 65, greatly reduces your risk of heart disease, stroke, cancer, osteoporosis and many other complications from diseases including COVID-19. Quitting also helps you breathe easier, smell and taste food better and saves you quite a bit of money. A $6 pack-a-day smoker, for example, saves about $180 after one month without cigarettes and nearly $2,200 after one year.

How to Quit

The first step is to set a "quit date," but give yourself a few weeks to get ready. During that time, you may want to start by reducing the number or the strength of cigarettes you smoke to begin weaning yourself.

Also check out over-the-counter nicotine replacement products – patches, gum or lozenges – to help curb your cravings (these are not covered by Medicare). Just prior to your quit day get rid of all cigarettes and ashtrays in your home, car and place of work. Try to clean up and even spray air freshener. The smell of smoke can be a powerful trigger.

Get Help

Studies have shown that you have a much better chance of quitting if you have help. So, tell your friends, family and coworkers about your plan to quit. Others knowing can be a helpful reminder and motivator.

Counseling can also be an important part of the process. Do not go at it alone. Start by contacting your doctor about smoking cessation counseling covered by Medicare and find out about prescription antismoking drugs that can help reduce your nicotine cravings.

You can also get free one-on-one telephone counseling and referrals to local smoking cessation programs through your state quitline at 800-QUIT-NOW. Or, call the National Cancer Institute free smoking quitline at 877-44U-QUIT.

It is important to identify and write down the times and situations you are most likely to smoke and make a list of things you can do to replace it or distract yourself. Some helpful suggestions when the smoking urge arises are to call a friend or one of the free quit lines, keep your mouth occupied with some sugar-free gum, sunflower seeds, carrots, fruit or hard candy, go for a walk, read a magazine, listen to music or take a hot bath.

The intense urge to smoke lasts about three to five minutes, so do what you can to wait it out. It is also wise to avoid drinking alcohol and steer clear of other smokers while you are trying to quit. Both can trigger powerful urges to smoke.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

If you have a chronic illness, your personal planning will need to involve careful consideration of your condition. Many Americans experience ALS disease, Alzheimer's, Huntington's disease, Parkinson's disease, multiple sclerosis (MS) or other types of chronic diseases.

If you or a loved one has one of these conditions, it is important to communicate with your attorney and other advisors about your condition. There are specific planning options both during life and for your testamentary plan that should be considered.

ALS (Lou Gehrig's disease) is a disease that progressively affects a person's ability to control muscle movement. Symptoms include muscle twitching and cramping. Most ALS victims will eventually need a ventilator for breathing, but often will be quite clear-headed during their lifetime.

Alzheimer's is a disease with a progressive reduction in mental capacity. Mild Alzheimer's may be identified by memory lapse and forgetfulness. As Alzheimer's progresses, the individual begins to lose speech facility, forgets to follow normal personal cleanliness habits and loses control. Often, the Alzheimer's sufferer eventually loses the ability to recognize family members and other loved ones.

Huntington's disease is an inherited disorder. The person with Huntington's disease may have great difficulty with coordination and eventually will suffer from dementia and require full-time care.

Parkinson's disease is a disorder of the nervous system. It can lead to progressive deterioration of both the physical body and mental capabilities. Because there is great variation with the disease, some individuals with treatment are able to live reasonably long lives.

Multiple sclerosis (MS) is also a disorder of the nervous system. There is progressive damage to nerve fibers that leads to physical and mental disability. MS may be fairly moderate at first but tends to lead to attacks that can cause progressive deterioration. MS may range from fairly mild to quite severe and very debilitating.

These five and other chronic diseases are all unique and different. Some afflict the body and others reduce the capabilities of the mind. For example, Alzheimer's has greater impact on mental ability, while ALS victims are often suffering in body but may be quite clear in mind.

Your attorney and other advisors need to understand the conditions sufficiently well so that your documents and plans reflect your particular circumstance.

The principal documents for any chronic illness are a durable power of attorney for healthcare, a living will and a HIPAA release. In many states, the durable power of attorney for healthcare and living will are combined into one document described as an advance directive.

Durable Power of Attorney for Healthcare

If you have a chronic illness, particularly one that leads to loss of mental capacity, it is very important to have a designated person who can make medical decisions for you. In the event that you are unable to reason or communicate, your designated advisor must discuss your medical care with doctors and hospital staff.

A durable power of attorney for healthcare allows you to designate a trusted person to speak to the doctors on your behalf. This power in some states is a separate document. In others, it is the first portion of an advance directive. Many states refer to the person holding the durable power of attorney as your "healthcare proxy."

Regardless of the form of the document or the name of your agent, this person is qualified to make your medical decisions if required.

Whom Should You Appoint?

For a person with a chronic illness, this can be a challenging decision. You would like to select someone who understands your medical condition and your preferences about care. This could be a family member or friend.

Adult children are often selected, but may experience great emotional trauma in making an end-of-life decision. A friend may be a good choice if you do not have a child who feels willing or emotionally capable of making those decisions.

Generally, you will select a healthcare proxy agent and a successor. It is usually best not to select two persons as your proxy agent—they might disagree at a critical time while you are in need of an immediate decision.

Living Will

A person with chronic illness needs both a healthcare proxy agent and a living will. Your healthcare proxy agent can make decisions regarding your care, even if you are not near death. The function of the living will is to describe your preferences for care if you are potentially in your last weeks or days of life.

The advance of medical science has enabled doctors to keep people alive for extended periods of time, even if there is virtually no possibility of recovery. If you are in this circumstance, your living will provides guidance to your doctors.

For example, the living will can discuss whether or not heroic measures will be taken to sustain your life. If you have an irreversible condition with no chance of recovery, the living will also specifies whether nutrition and hydration will be maintained.

If you suffer from one of the chronic illnesses that affects mental capacity, it may be important for you to sign your living will before your mental health deterioration. Many Alzheimer's patients and other individuals with great mental deterioration are no longer capable of signing a living will.

Health Insurance Portability and Accountability Act (HIPAA)

In 1996, Congress passed the Health Insurance Portability and Accountability Act. HIPAA was designed to protect your rights to medical information. Your doctor and other medical providers will frequently acquire extensive background information and treatment information for your chronic illness. Under the HIPAA rules, there are safeguards to protect your personal medical information. A doctor, medical center or other provider may not disclose this information, particularly to someone who will use it for marketing or similar purposes.

However, you may wish to have your medical information released to your professional advisors so they can make appropriate decisions for you. In order to receive this information, your healthcare proxy must have a formal release from you.

The HIPAA release, which will be in writing, should describe the type of health information that may be released to the person. It may provide a general list of medical centers or providers or could have an open-ended release for any hospital or medical provider and may include a termination date. After you sign your HIPAA release, you can always revoke that release and sign a new one.

Many states have specific forms for advance directives, living wills or durable powers of attorney for healthcare. You will want to be certain that you have signed the correct form for your state.

Planning for retirement and senior care is very important. The activities of daily living for a senior person include eating, dressing, bathing and walking or moving. At some point, every senior will likely need assistance in one or more of these areas.

An important consideration will be the cost of providing that care. By retirement, it is helpful for you to own your home, be debt free, and have retirement income and savings. Retirement income will frequently include Social Security, your IRA or 401(k), a pension plan and investment earnings.

Typically, there are four different levels of care utilized by seniors. The first level includes "in-home care" which includes moderate assistance with certain living functions, such as meal delivery. In-home care often eventually progresses to "home healthcare," defined as assistance with the activities of daily living by a home healthcare aide or nurse. The next level is a more formal assisted living or independent living facility. In an assisted living facility, there are more staff and a higher level of assistance. Finally, the fourth level is skilled nursing care. This is 24-hour nursing care in a facility that is designed to provide a higher level of medical assistance.

Independent Home Care

Independent home care is popular for several reasons. First, it is the least expensive of the four levels of care. Independent home care, or "home care" typically provides a senior with assistance for one or more life functions that does not include healthcare.

With home care, seniors are able to live independently in their home. Seniors with home care might, for example, benefit from a program that delivers a daily meal to their home. If they are not able to maintain their driver's license, they might also participate in a ride-sharing program once or twice per week so they can go to the store to buy certain essentials.

There are a number of local charities that provide services to assist with home care and outreach services. In addition, friends and family can create a schedule to provide assistance to their senior loved one.

Finally, home care very often includes a home monitoring system that allows seniors to contact the monitoring service if they are injured. This service might also require seniors to check in at the same time every morning when an alert sounds so that the monitoring service can contact a relative who lives nearby if the senior does not respond.

Home Healthcare

The next level of care, home healthcare, involves a greater degree of assistance to seniors and includes healthcare services that are provided in the senior's home. Home healthcare will vary significantly depending on the level of services provided. However, it frequently will cost from $10,000 to $30,000 per year.

Home healthcare is preferred to assisted living or nursing home care because the person receiving care will be able to maintain his or her independence. While the cost is generally reasonable, there are many organizations and providers who can give you good quality care. A key decision for home healthcare is the person who will be the caregiver. Family is often the first option. If you have a child or other relative who is willing to provide assistance, you may be able to live quite comfortably in a family home or perhaps in an attached apartment.

The next level will frequently be a service provider such as a home healthcare aide. The aides visit on a regular basis and provide assistance. Many individuals are able to manage well by themselves as long as they have a home healthcare aide who makes regular visits.

A third level of home healthcare may involve visits by a practical nurse or registered nurse. The nurse may assist you with various types of care and check to see that you are using your medications or other types of therapy in a beneficial manner.

There are safeguards that should be carefully considered for home healthcare. The organizations that provide home healthcare are generally licensed by each state. You can check into their certification and also their reputation. It's also helpful to have a family member who is in regular contact with the senior person who is receiving home healthcare.

As you age and become more senior, it may be appropriate for you to stop driving and to depend on others for transportation. In addition, the family protector can watch to see that you do not make inappropriate expenditures or become vulnerable to any type of abuse.

Independent or Assisted Living

The next level of care is independent or assisted living which typically has a cost of $40,000 to $65,000 per year.

Many facilities provide both independent and assisted living. Independent living permits the individual to live in a residential facility, but to have a reasonably high level of control of his or her life. With independent living, the person will live in his or her own apartment or small residence and frequently retains a vehicle and the ability to drive. Independent living often offers a meals plan so that the resident can choose to eat in a common dining area.

Assisted living occurs in a more structured residence with a higher level of staff services. The assisted living facility will involve staff who regularly assist residents with the activities of daily living.

Long-term Care

Long-term care includes several levels of care. The two most common levels are skilled nursing and intermediate care. Skilled nursing will provide around-the-clock care from a licensed practical nurse or registered nurse. The cost of skilled nursing care may be $90,000 to $110,000 per year.

Intermediate care facilities also are intended to care for residents that have chronic illnesses or impairments of health. These facilities offer 24-hour staff care. However, they will not always have a registered nurse and may use vocational or practical nurse staff.

It is extremely important with long-term care to examine the facility. Is the facility owned and managed by a for-profit or a nonprofit? What is the affiliation of the organization?

A person may be in a skilled nursing home for several years. Because the costs are very significant, the financial strength of the organization is quite important. If the organization at some point in the future has a financial shortfall, it may find it necessary to reduce services. This could have great impact on the care of a senior person.

Other areas to consider are the facility and the services. What is the location of the facility? You should review the cleanliness of the rooms and the public areas and try to determine the general feelings of current residents toward the facility. Many care facilities offer a number of different types of services. Some of these are social or recreational while others are therapeutic and health related.

Finally, how are the levels of staffing and the food service for the facility? A good facility will have a caring and adequate staff and food service team for the number of residents.

Alzheimer's Care

Alzheimer's is a challenging disease because it leads progressively to very high care requirements. Because of the staff and facility requirements, Alzheimer's care can cost $100,000 or more per year.

There are three general levels of Alzheimer's. Early-stage Alzheimer's involves some short-term memory loss, difficulties with routine tasks and mood swings. Middle-stage Alzheimer's patients may start to show confusion about time and place, loss of memory and wandering. With late-stage Alzheimer's, there is a loss of cognitive function and eventual physical deterioration.

Home care is possible for early-stage Alzheimer's. A family member can provide the level of care needed. It is important that the caregiver understands the risks and takes protective actions to minimize the potential for the senior person to wander off and become lost.

The next level of care is an organized senior residence with a measure of independence. This will provide available 24-hour care, but still enables an early or middle-stage Alzheimer's patient to have some level of control of his or her activities.

Finally, for advanced stages of Alzheimer's, the senior person will need 24-hour residential care. Family members should examine the rooms, consider the staffing levels and review the policies regarding medication for those Alzheimer's patients.

Are there any financial assistance programs you can refer me to? The coronavirus pandemic has cost me my part-time retirement job and has shrunk my IRA.

In addition to the $1,200 federal coronavirus stimulus checks that were distributed in April and May, there are many other financial-assistance programs (both public and private) that can help struggling retirees. These programs can also give relief to family members who help provide financial support for their loved ones.

To find out what types of financial benefits you may be eligible for, visit BenefitsCheckUp.org, a free and confidential website designed for adults 55 and older and their families. The website can help you locate federal, state and private benefits programs that can assist with paying for food, medications, utilities, health care, housing and other needs. This website service, created by the National Council on Aging, contains more than 2,500 programs.

To find out which benefits you qualify for, you will need to fill out an online questionnaire that asks a series of questions such as date of birth, ZIP code, expenses, income, assets, veteran status, medications you take and a few other factors. It takes about 15 minutes to complete.

Once completed, you will get a report detailing all the programs and services you may qualify for and detailed information on how to apply.

Most programs have online applications. However, some programs have downloadable application forms that must be mailed in or may require you to contact the program's administrative office directly. These programs will all give you the necessary information on how or where to send the application.

If you do not have internet access, you can get help in-person at any of the 84 Benefit Enrollment Centers located throughout the U.S. Call 888-268-6706 to locate a center in your area. Some benefit centers may offer assistance over the phone.

Types of Benefits

Depending on your income level and where you live, here are some benefits you may be eligible to enroll in:

Food assistance: Programs like the Supplemental Nutrition Assistance Program (SNAP) can help pay for groceries. The average SNAP benefits for 60-and-older households is around $125 per month. Other programs that may be available include the Emergency Food Assistance Program, Commodity Supplemental Food Program and the Senior Farmers' Market Nutrition Program.

Healthcare: Medicaid and Medicare Savings Programs can help or completely pay for out-of-pocket health care costs. And, there are special Medicaid waiver programs that provide in-home care and assistance too.

Medications: There are hundreds of programs offered through pharmaceutical companies, government agencies and charitable organizations that help lower or eliminate medication costs. This includes the federal Low-Income Subsidy known as "Extra Help" that pays premiums, deductibles and prescription copayments for Medicare Part D beneficiaries.

Utility assistance: There is the Low-Income Home Energy Assistance Program (LIHEAP), as well as local utility companies and charitable organizations that aid in lowering home heating and cooling costs.

Supplemental Security Income (SSI): Administered by the Social Security Administration, SSI provides supplemental monthly payments to very low-income seniors, age 65 and older. The SSI also provides for those who are blind or disabled. In 2020, the SSI pays up to $783 per month for a single person and up to $1,175 for couples.

In addition to these programs, there are numerous other benefits they can help you locate such as HUD housing, home weatherization assistance, tax relief, veteran's benefits, senior transportation, respite care, free legal assistance, job training and employment and debt counseling.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.