Legacies A publication of the United Methodist Foundation of Louisiana
Inside This Issue
Free webinar to help with aging parents’ financial affairs Page 2
Medicare Expands Telehealth Services Page 3
Legacy Giving in Uncertain Times We’ve had over three months of social distancing, stay-at-home orders and fear of COVID-19. While church doors have been closed, churches are broadcasting online, and church members are finding new ways to send their pledges and tithes without the benefit of a collection plate. These are indeed uncertain times. With all the uncertainty, have you thought about how you would support your church if you weren’t around to write a check or click a button on your computer? Do you want your church or favorite ministry to continue when you’re no longer here? Planned giving, (sometimes called legacy giving) is a way you can provide for your favorite ministry when you’re no longer on Earth. These gifts come to fruition and provide for the ministry of the donor’s choice when the donor reaches the end of their life. One type of planned gift, the Charitable Gift Annuity, will pay you now and your church later. Skipper and Dusty Clark, members of Roberts United Methodist Church in Denham Springs, learned about charitable gift annuities from their pastor.
Challenging Times = Opportunity to Help Page 4
“Where Faith and Money Come Together”
July 2020
Skipper and Dusty Clark: “A charitable gift annuity was the perfect way to give to the church and still help our family.”
helped them set up a Charitable Gift Annuity, which will provide support to the church after their lifetimes, but right now is providing a locked-in rate of income based on age (see chart). The Foundation walks the donor through the set-up, explaining each step, all at no charge to the donor or the church. “We were not looking for income for ourselves. Payments for life makes this a double blessing,” Dusty said.
Years ago, Dusty was on his way to work when a dump truck ran a red light, collided into him and changed his life forever. After the accident, doctors told him he was lucky to be alive and might never work again. Eventually, an insurance company sent them a settlement check. The Clarks wanted to tithe the money to their church. The Foundation staff
Rates effective July 1, 2020
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Legacies Legacy Giving in Uncertain Times, continued from page 1 “Where Faith and Money Come Together”
2020 Board of Trustees Omer Davis Chairman Rev. Weldon Bares L. Nettles Brown Debra Davis Rev. Doug deGraffenried Mike DeHart Bobby Fahey Irwin Felps Dean Harvey Rev. Michi Head Jarvis Jones Drew Kennedy Sandra Kuykendall Richard Lewis Mary Magee Rev. Ashley McGuire Rev. Brian Mercer Troy Searles Dianne Wilkinson Rob Fairly President
Contact Us: 8337 Jefferson Hwy. Baton Rouge, LA 70809 Phone: (225) 346-1535 (800) 256-9317 Web Addresses: www.umf.org www.umfgiving.org Legacies Editor: Kelly Johannessen kellyj@umf.org
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Some people find the Charitable Gift Annuity so appealing, they set up several. The late Dr. Cedric Lowrey and his wife Ann established four over the years to benefit First United Methodist Church of Alexandria, where they were long time members. The Lowreys were committed to contributing to the wellbeing of others, which was evident in all of their accomplishments. Dr. Cedric, a prominent, Central Louisiana hand surgeon, was one of the founders of a free clinic in Alexandria that continues to serve the health needs of patients there. Ann found joy in supporting the symphony and the arts, teaching Sunday School and collaborating with friends to produce a community cookbook. They were both devoted to God and their church, which they served in many capacities, including the choir. The Lowreys supplemented their retirement with the income from their gift annuities. Ann died in 2017, and Cedric passed away just this year. And since they designated their church as the beneficiary of these gifts, the Lowreys will support First United Methodist Church of Alexandria, forever. Now more than ever, we need to focus on our wellbeing and that of our families and our church. Review
Dr. Cedric and Ann Lowrey were so pleased with the outcome of their first Charitable Gift Annuity, they set up three more– all to benefit their church.
your current estate plans and get your basic documents in order, such as your will, powers of attorney, beneficiary designations and health care directives. (The Foundation is hosting an online webinar on August 20 to discuss these topics. See box below this article.) Also, consider creative, tax-smart ways such as a Charitable Gift Annuity to increase your income in your final years, and leave a legacy gift for your church or favorite ministry. Your Foundation staff is ready to show you an illustration and explain what your Charitable Gift Annuity benefits would look like. Or, go to our website at www. umfgiving.org and click on Calculators to create your own illustration.
FREE Webinar, Thursday, August 20 at 2:00-3:30 pm The United Methodist Foundation of Louisiana presents
“Effectively Assisting Your Aging Parents with their Financial Affairs” FREE Webinar (online) with Attorney Ronda Gabb
What would happen if you suddenly had to manage the financial and legal matters for a parent? Ronda Gabb is a Board Certified Estate Planning and Administration Specialist certified by the Louisiana Board of Legal Specialization. She practices Louisiana estate planning and elder law and often lectures to professional and community groups on topics associated with her practice.
For topics and registration, go to www.umf.org
July 2020
Savvy Living
Medicare Expands Telehealth Services Dear Savvy Living, Does Medicare cover telehealth services? My 71-year-old mother has chronic type 2 diabetes but is very concerned about going to the doctor for fear of exposing herself to coronavirus. What can you tell us?
Due to the coronavirus (COVID-19) pandemic, Medicare recently announced that it will be expanding coverage for telehealth services to help keep vulnerable seniors safe at home. Here is what you and your mom should know.
Telehealth Services
If you are not familiar with telehealth or telemedicine services, they are full visits with a health care provider who is not at your location using a telephone or video technology device – i.e. smartphone, tablet or computer. Telehealth services allow Medicare beneficiaries to take care of ongoing medical problems as well as new concerns, while following public health advice to stay home during the coronavirus outbreak. Medicare patients with chronic health conditions now do not have to postpone a regular follow-up visit with the doctor to keep safe. They can see their doctor or nurse practitioner virtually. Nursing home residents will also be able to have telehealth consultations with their doctors. If your mom is not familiar or comfortable with technology, you,
another relative or friend can assist her. You may need to go over to her house to help her do this. Bring your smartphone, tablet or laptop – but remember, do not visit if you are feeling sick. Risk of serious illness from the coronavirus is much greater for older people and those with underlying health problems such as lung conditions, diabetes or heart problems. Many seniors are also managing chronic health issues that put them at heightened risk. Until recently, telehealth coverage under original Medicare has been limited to beneficiaries only in rural areas, and patients often need to go to specially designated sites for their visits. The expanded telehealth coverage, which will remain in effect during the coronavirus outbreak, now allows doctors and hospitals to bill Medicare for visits via telemedicine that previously had to take place in person, at a medical office or facility. If your mom happens to get her Medicare benefits through a private Medicare Advantage plan, they will also be expanding their telehealth
services. For coverage details, contact her plan provider directly.
Other Medicare Coverage
In addition to the expanded telehealth services, Medicare will also be covering all coronavirus testing costs and medically necessary hospitalizations. If her doctor recommends that she remain in quarantine at the hospital rather than self-isolating at home, she will not have to pay for those costs. If your mom has a Medicare Part D prescription drug plan, it will cover the coronavirus vaccine when it becomes available and will waive prescription refill limits, so she can have extra medication on hand during the pandemic. For more information on how Medicare is covering the coronavirus, see Medicare. gov/medicare-coronavirus. For the latest information on the coronavirus, visit Coronavirus. gov. “Savvy Living” is written by Jim Miller, a regular contributor to the NBC Today Show and author of The Savvy Senior book.
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Challenging Times = New Opportunity to Help Churches In the midst of the current pandemic, daily church operations have significantly changed as members fear the spread of COVID-19. The challenging situation provided a new opportunity for the United Methodist Foundation of Louisiana. Knowing funds would be necessary for churches to adapt, the Grants Committee designated $100,000 in grant money to encourage unique ministry. Churches were challenged to submit their most creative ideas to support evangelism, mission and outreach. The applications resulted in grants awarded to 20+ churches for some incredible ministry plans. The majority was used to purchase equipment to implement online worship services. Rev. Joy Comeaux of Westlake UMC, one of the grant recipients, explained that even after the shut down, many of her aged members may not feel safe enough to return to church right away. Providing online services and recorded sermons gave Westlake an effective tool to keep in touch. Another useful and especially unique idea came from Rev. JoAnne Pounds of Memorial UMC in Bastrop, who is
using grant money to host drive-in worship. The funds she received are being used for the sound system, signage and social media campaign to hold worship, while members stay parked in their cars and safely engage in the service. Rev. Nancy Wofford of Logansport and Bethel UMC used a grant to provide children’s Sunday School in a box. The boxes contain ageappropriate materials such as a Bible storybook, activity page, craft supplies, a devotion for families to do together and a newsletter to parents. They are mailed out monthly, and children are invited to complete their activities with the pastor during weekly Zoom meetings. Hebrews 13 tells us, “Jesus Christ is the same yesterday and today and forever.” Christ does remain constant, but our world and society are changing rapidly. The Foundation acknowledges this in its mission statement and strives to undergird the church in the current environment. “We are always looking for ways to be supportive of our churches. We chose to view this new challenge as an opportunity to help,” said Rob Fairly, President and CEO of the Foundation.