“Kitces: When and how to deduct long-term care insurance,” by Michael Kitces, Financial Planning “With the 1996 introduction of tax-qualified long-term care insurance under the Health Insurance Portability and Accountability Act and IRC Section 7702B, Congress affirmed that long-term care insurance benefits should be tax-free. Tax benefits for purchased long-term care insurance coverage followed. However, the evolving landscape of both individual tax deductions and long-term care insurance tax preferences have created myriad options for filers, all of them confusing. What follows is a run-through of the choices, benefits — and indeed, drawbacks — of each.” LTC Comment (from Damon V.
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“Wisconsin faces critical shortage of care workers for disabled and elderly,” by Lillian Price, Journal Sentinel “The lack of workers has reached crisis levels in Wisconsin and across the nation, according to long-term care and home care organizations. And Gov. Scott Walker has recommended a 2% increase for each of the next two years, but advocates say more is needed. . . . Advocates and health associations have pinpointed low wages without benefits as the cause of the shortage. There’s also an overall lack of appreciation for workers who fill these demanding jobs, they say, leading workers to not view the job as a career. .
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“The Ethics of Adjusting Your Assets to Qualify for Medicaid,” by Ron Lieber, New York Times “Would the care be worse if you or your relatives were on Medicaid, and because of that, limited to whatever nursing home or home-care agency was available? If so, is the most ethical choice to urge aging parents or relatives to keep as much money as possible to pay out of pocket for the care of their choice? I’ve been struggling to answer this question for weeks now, and if you have any experience with it yourself, I’d like to hear from you. Watch
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“My uncle with dementia needs long-term care — should I refinance his house?,” by Quentin Fottrell, MarketWatch “Here are some of the myths associated with Medicaid. And, as I mentioned in my previous response, take the necessary steps to become his power of attorney that allows you to make medical and financial decisions on his behalf. Medicaid, for those who qualify, pays for more than half of long-term care expenses. Nearly 20% of Medicaid expenses currently go to the elderly, primarily for long-term care, as so many people in your uncle’s position exhaust their savings and assets in an attempt
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“Mississippi not talking about the wealthy people on Medicaid,” by Anna Wolfe, Clarion- “Clinton attorney Ronald Morton helps the elderly protect their stuff — sometimes so they can use Medicaid to pay for long-term, end-of-life health care as opposed to spending their savings. . . . While Mississippi lawmakers discuss cracking down on the state’s growing Medicaid rolls by vetting applicants more closely, this is not a scenario that enters the conversation.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):  Our new report “How to Fix Long-Term Care Financing” to be released next week explains why
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“Nine lifestyle changes can reduce dementia risk, study says,” by Fergus Walsh, BBC News “One in three cases of dementia could be prevented if more people looked after their brain health throughout life, according to an international study in the Lancet. It lists nine key risk factors including lack of education, hearing loss, smoking and physical inactivity. . . . Nine factors that contribute to the risk of dementia Mid-life hearing loss – responsible for 9% of the risk Failing to complete secondary education – 8% Smoking – 5% Failing to seek early treatment for depression – 4% Physical inactivity
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