Understanding choices adult children make to care for elderly parents should help policymakers

According to a 2005 U.S. Department of Health and Human Services report, nursing homes in the United States in 1999 cost an average of $47,000 per year, with costs rising each year. Choosing a course of care for an elderly family member is both a financial decision and an emotional one. A business and economics professor at Washington University in St. Louis is using game theory to understand these long-term care decisions. More…

Making a Medicare Part D decision

Medicare Part D decisions can be confusingDuring the next six months, Medicare recipients will need to enroll in one of the new prescription drug coverage plans. But with the deluge of information about Medicare Part D, some reliable and some not, “seniors find themselves in an environment of fear and confusion,” says Edward F. Lawlor, Ph.D., a Medicare expert and dean of the School of Social Work at Washington University in St. Louis. “There is so much noise about the prescription drug program, but people are not getting clear, simple information. Many seniors aren’t even entertaining making the proper plan choice.”