AUSTIN, Texas - 'Tis the season for splurging. And why not, when stores make it so easy - even if you're short on cash. Half of the nation's major retailers offer so-called "zero-interest" financing plans. But consumer advocates are offering their own holiday message: read the fine print. Deferred-interest deals, they say, can wind up increasing total financing costs by more than 27 times.

The catch, according to the Texas Legal Services Center attorney Judy Doran, is that, after the grace period, interest is retroactively applied to the entire purchase price, regardless of how much of it has already been paid off.

"If, originally, the price was $100, and you've paid it down to $50, instead of interest on $50, the interest rate is on $100."

A recent report by www.CardHub.com provides details on the deferred-interest plans of leading retailers. It calls out 14 companies for not being transparent enough about their policies. Included on Card Hub's "wall of shame" are Home Depot, Walmart, Apple, Best Buy, Victoria's Secret and Amazon.com.

Doran manages her legal-aid organization's Elder Exploitation Project. She says one of her clients - a 70-year-old living on Social Security - bought a $1,000 TV last year, and now owes more than $650 in interest. She says seniors on fixed incomes are particularly vulnerable during the holidays.

"It's an emotional time, and you want to buy something for your children or grandchildren. It sounds like a good deal. But if you think you're getting too good a deal, you probably are."

While it is possible to avoid the excessive interest by paying off an entire purchase before the end of the grace period, Doran says, the safest way to beat the system is to avoid it altogether.

"If you see something that says you can buy this with a deferred interest plan - no interest for a year - run away from it. And if you have already bought something, see if they'll take it back."

She says retailer deferred-interest plans should not be confused with introductory deals from credit card companies that charge interest only on remaining balances after a zero-interest grace period.

More information is available from the Elder Exploitation Project, http://bit.ly/UZBOXT. The TEEP hotline is 888-612-6626. The Card Hub report is at www.cardhub.com.




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Washington performs well in a new report scoring states' long-term care systems.

The Evergreen State ranked second in AARP's Long-Term Services and Supports State Scorecard. Cathy MacCaul, advocacy director for AARP Washington, said this is an achievement for the state.

"Number two is a really positive indicator that all the challenges that the long-term care system experienced during COVID - Washington state did well," she said. "We have a lot of work ahead of us, though, to continue to improve the long-term care system."

AARP's last scorecard on long-term care services was released in 2020. In that report, Washington also ranked second. While the state performed well this year, the analysis noted there are major gaps in maintaining an adequate workforce in every state.

MacCaul said new indicators appeared in this report related to livable communities.

"There's a lot more work Washington state can do on housing and transportation to improve affordability and access for older adults and for their caregivers," she said.

MacCaul said the report also recognized that at-home care is key as the population ages rapidly.

"Home- and community-based services and supporting the 820,000 family caregivers that we have in the state are the two areas of probably the most importance when it comes to this scorecard," she said, "and recognizing the work that we need to do to improve our long-term care system in Washington state."

A new report finds Virginia's long-term care facilities need improvement to better serve their residents.

AARP's Long-Term Care Services and Supports Scorecard ranks Virginia at 28th among states. While the state has ranked high in terms of affordability and access to long-term care, it scores lowest in safety and quality, as well as support for family caregivers.

Jared Calfee, state advocacy director for AARP Virginia, said nursing home financial transparency is one of several priorities the group will take up at the General Assembly next year.

"Our nursing facilities, they largely operate with a lot of taxpayer money coming from Medicaid," Calfee pointed out. "The public has a right to know how that money is being spent and what's being dedicated to staffing and providing quality care, versus what is going to profits and paying administrators."

Other areas on which he noted AARP Virginia would focus include providing aid to family caregivers, licensure, and enforcement of both state and federal rules on staffing. However, with many seats in both chambers of the General Assembly up for election, Calfee acknowledged it is too early to tell what kind of progress might be made.

The scorecard also reflects trends stemming from the COVID-19 pandemic. Calfee emphasized nursing homes have been and continue to face issues, particularly with staffing, which surfaced due to the pandemic.

"When you don't have adequate staffing, and you have staff coming and going -- who aren't able to stay in facilities and get to know people -- then that's what you end up with, is facilities that are not as high-quality as you would want," Calfee asserted. "And it's the residents who then end up suffering because of that."

He added stronger policymaking will be necessary to make progress. Bills on nursing home staffing requirements failed in previous years, but the General Assembly was able to pass a law this year. However, it does not go into effect until July 1, 2025.

The Iowa Alzheimer's Association expects about 2,000 people to gather on the Capitol steps in Des Moines on Saturday, as volunteers seek to create the world's biggest walk to raise money for research.

About 66,000 Iowans suffer from Alzheimer's disease, and nearly 100,000 more are caregivers, often unpaid family members who help with routine personal needs and daily activities.

Iowa Alzheimer's Association volunteer Chantelle Cadek said the group hopes to raise a half-million dollars to bolster research, fund treatment options - and ultimately, find a cure. Contrary to popular belief, she said, Alzheimer's is not routine.

"Alzheimer's is not a normal part of aging," she said. "It is a disease. Not everyone gets it. Age is the biggest risk factor for people to get Alzheimer's, but definitely it is not a normal part of aging."

According to the Alzheimer's Association, 6 million Americans nationwide live with the disease, and 11 million family members serve as caregivers.

The U.S. Food and Drug Administration recently approved two new drugs said to slow the progression of Alzheimer's disease: Leqembi and Aduhelm. As of now, however, there is no cure. Despite being most prominent in older people, their caregivers - often spouses - are least likely to ask for help.

Cadek said education is the only way to change that.

"The reality is that, unfortunately, Alzheimer's is a fatal diagnosis," she said. "There's currently no cure for it. At some point, most people need help, so I would encourage those folks to just reach out. The Alzheimer's Association is a wonderful resource; there's a 24-7 helpline."

The Des Moines walk participants will carry purple, yellow, blue and orange flowers, which represent the different reasons they are walking. The event starts at 9 a.m. Saturday.


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