“Older adults’ home equity exceeds $11.12 trillion in first quarter: report,” by Kathleen Steele Galvin, McKnight’s Senior Living Quote: “Homeowners aged 62 or more years increased their home equity by the first quarter of 2022 by 4.9%, to a record $11.12 trillion, from the fourth quarter of 2021, according to the latest quarterly release from the National Reverse Mortgage Lenders Association, published Tuesday. That’s a difference of $520 billion. … Some older adults are using reverse mortgages to finance their moves to senior living communities.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Expect senior home equity to
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“Accessing Long Term Care Through Medicaid,” Advisor Magazine Quote: “Even as the country’s primary payer of LTSS, Medicaid LTSS coverage has restrictive eligibility rules, is highly variable by state, and is unfamiliar to the general public. A large number of Americans will become acquainted with the system only when they or a loved one find themselves in need of LTSS. … Because of a lack of alternative and feasible ways to finance the cost of their long-term care needs, many middle-class seniors find themselves forced to spend down, i.e., reduce their net worth so they are eligible for Medicaid, or
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