SAC MIN 1993-09-08 - Laserfiche WebLink

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Ms. Liedtke-Garcia also spoke about the Home Equity Conversion Program also known as reverse mortgages and Judy Gaither is the program contact. She mentioned that HIP is the only HUD-approved Home Equity Conversion Program in San Mateo County. Ms. Gaither offers 10 different program possibilities to seniors to assist them in remaining in their homes. She said that both she and Ms. Gaither make home visits to people when they are unable to come in for the initial interview. Chairperson Anthony and Commissioner Lloyd suggested having a large meeting to promote the HIP programs and having participants of the various programs talk about their experiences with the program. Ms. Liedtke-Garcia said HIP is working on a video on the Home Equity Conversion Program for the public. HIP is also hoping to host the National Home Sharing Conference to be held this fall in the Bay Area. ITEM 2 - Longterm Care - Mike McDonald, Viking Estate Plans Mike McDonald of Viking Estate Plans made a presentation on a program which would save seniors from having to deplete their savings in order to pay for longterm care. He mentioned there were three ways to pay for longterm care: (1) a person can pay the entire cost; (2) a person can buy expensive longterm care insurance if one can medically qualify for the coverage; and (3) a person can position oneself to take advantage of his/her government entitlement. Mr. McDonald presented an extensive diagram of how a person could qualify for their governement entitlement. He showed how a person could protect their assets if they were to have to go into a nursing home. It was his recommendation that people invest in annuities in order to protect their assets and his company provided this service. He said he would work with anyone to determine what their government entitlement was and and help them to make the appropriate investments. ITEM 3 - Plan for Council Study Session Superintendent Hartman said the committee met last week and presented a proposed outline to the Commissioners. The Study Session has been set for Monday, October 4 at 7:30 at the Library Community Room. The Planning Committee will be meeting twice more before the study session to finalize the format. ITEM 4 - Other Items of Senior Interest Activity Pursued The Fox Theater Task Force and the San Mateo Resource Team topics were deferred until the next meeting. Coalition of City Senior Commissions- Chairperson Anthony explained that he and Commissioner Lloyd attended an initial meeting of representatives of other senior commissions/councils that are located in San Mateo County. He said the meeting was a great way for senior representatives to get together and exchange information. He would like to bring the results of our senior survey to the group for their comments. The next meeting will be held on September 23 at 10:00am at the Senior Center Annex. Art Center- Superintendent Hartman advised that the Art Center Open House would be held on Saturday, September 11 from 12:OOnoon to 3:00pm at the Old Police Dept. The regular meeting of the Senior Affairs Commission was adjourned at 11:15am to reconvene at 7:30pm on Monday, October 4, 1993 to be held at the Library Community Room, 1044 Middlefield Road, Redwood City, California.