Testifiying before the United States Senate Special Committee on Aging July 20, a representative of the National Academy of Elder Law Attorneys explained that proposals to make Medicaid asset transfer penalties more punitive will "harm tens of thousands of older Americans who have worked all of their lives, paid taxes and have never been on public assistance."

Bank of America has agreed to offer refunds to thousands of elderly investors who bought variable annuities. Although the accord was reached with Massachusetts regulators, the bank will expand its offer nationwide to people who were 78 or older when they bought variable annuities in 2003 and 2004.

Massachusetts secretary of state William Galvin called the agreement "a major step toward correcting the abuse of pressuring elderly people" into buying variable annuities without telling them about related restrictions.

A nationally known gerontologist found that helping his own mother navigate the long-term care system was more difficult than he ever imagined. He and his sister share their experiences and offer practical prescriptions for change.