“No, Medicare Won’t Go Broke In 2026. Yes, It Will Cost A Lot More Money,” by Howard Gleckman, Forbes “Let’s get right to the point: Medicare is not going ‘broke’ and recipients are in no danger of losing their benefits in 2026.” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform): What’s the expression? Lipstick on a pig. Of course Medicare is broke even if it can pay partial benefits after 2026. Any private carrier in the same straits would be out of business already. The difference is Medicare has no guaranty association to back it
Read More

“‘Invisible workforce’ of caregivers is wearing out as boomers age,” by Jackie Crosby, Star Tribune “Growing numbers of Americans face the immense and often overwhelming challenge of caring for an aging parent or other loved one, a burden that will skyrocket as 76 million baby boomers move into their 80s and need help coping with dementia, cancer, heart disease or just plain frailty and old age. … Soon, Minnesota and the nation will reach a demographic crossroad. In 2030, the first wave of the baby boom generation will turn 85, an age when people are twice as likely as those
Read More

“The Many Shades of Boomer Health,” by Joanne Kaldy, Provider “Baby boomers have often been defined by the social changes they have launched, including political engagement and protests. The generation—usually defined as those born in the United States between 1946 and 1964—also is often associated with greater sexual expression, experimentation with drugs, and environmental concerns. Now, this generation that once chanted, ‘Don’t trust anyone over 30,’ is turning 60 … and 70, and as they age, they are bringing clinical care needs, strong opinions, financial issues,​ and family dynamics that will pose challenges for facilities. Understanding what it means to
Read More

“Genworth Updates Website,” by Allison Bell, ThinkAdvisor “Genworth Financial Inc. is now getting most of its new sales from its mortgage insurance units, but the company’s new website update keeps the focus on the company’s long-term care planning products, services and data. Janice Luvera, a vice president at the Richmond, Virginia-based company, says in a statement about the revamp that Genworth wanted to shift away from the look and feel of a traditional insurance company website. … In an Aging & You section, Genworth has added information about caregiving and videos of real families who talk about their experiences with providing care.” LTC
Read More

“Long-Distance Caregiving, Up Close: LTCI Insider,” by Margie Barrie, ThinkAdvisor “Several months ago, I received the telephone call that nobody wants to get. My brother called from Baltimore. He was in the emergency room with my 97-year-old mother who had fallen and broken her hip. I am now experiencing long-term care planning from a totally different viewpoint: as a caregiver, and doing it long distance. I live about 1,000 miles away in Florida. This is a huge reality check. I’ve been immersed in long-term care planning since 1990. But teaching it and selling this protection are totally different than living
Read More

“Younger People Find Long-Term-Care Insurance Is Harder To Get,” by Jadah Riley, Financial Planning “Younger applicants for long-term-care insurance are being turned down at higher rates than before, according to a new study by the American Association for Long-Term Care Insurance (AALTCI). At the same time, the study, which evaluated leading LTC providers, found that people age 70 and over are rejected at the highest rate, 44%, a figure that didn’t change all that much from a similar survey done in 2014. … Rejection rates for younger applicants did rise significantly on a percentage basis, the AALTCI found. The decline
Read More

“Live Free and Die,” by Henry Grabar, Slate “Is Grandma having trouble with her property taxes? A new Manhattan-based startup wants to buy her house and let her live there, for free, for the rest of her life. This makes sense as a business for a couple of reasons: For one, seniors have the nation’s highest homeownership rate. Close to 80 percent of Americans over age 65 own their homes. At the same time, older Americans are increasingly likely to retire without the savings to see them through their twilight years. In 2013, median retirement-account savings for families age 56–61 was
Read More