“Life expectancy decreasing, CDC says,” by Lois A. Bowers, McKnight’s Senior Living “Life expectancy in the United States decreased in both 2015 and 2016, marking the only decreases in the past 20 years and the first consecutive two-year decline since 1964, according to a newly released National Vital Statistics Report from the Centers for Disease and Prevention’s National Center for Health Statistics. … The decrease in overall life expectancy at birth, according to the government, primarily was due to increases in mortality from Alzheimer’s disease, Parkinson’s disease, unintentional injuries, homicide and suicide.” LTC Comment (from Stephen A. Moses, President, Center
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“Slideshow: 15 employee benefits on the rise,” Kathryn Mayer, Employee Benefit News Quote: “Critical illness insurance One in four employers now offer critical illness insurance to their employees, according to SHRM. That’s an 8% increase from 2017 and a 10% increase from 2014. As healthcare costs continue to mount for both employers and employees, voluntary benefits offer workers some additional protections for financial emergencies at a low cost, benefit experts say.” 8/13/2018, “Slideshow: 15 employee benefits on the decline,” by Kathryn Mayer, Employee Benefit News Quote: “Childcare and eldercare referral services Both childcare (17% in 2017 to 9% in 2018) and eldercare
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“Humana completes sale of long-term care insurance policy business KMG, at a loss of $790 million,” by Susan Morse, Healthcare Finance “Humana has completed the sale of its wholly-owned subsidiary KMG America Corporation, in a transaction first announced in November 2017. Humana has owned KMG since 2007. KMG subsidiary, Kanawha Insurance Company, offers commercial, long-term care insurance policies and currently serves an estimated 29,300 policyholders. Humana sold its shares in KMG for a reported $2.4 billion to HC2 Holdings, which includes Continental General Insurance Company, based in Texas. In its second quarter earnings statement, Humana reported a $790 million loss
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“Dimensions, Demographics And The March Of Generations,” Advisor Magazine “By 2019, Millennials will number 73 million, and will have taken over Baby Boomers as America’s largest living generation. Meanwhile, in 2016 Millennials became the largest generation in the U.S. Labor Force and will soon surpass Baby Boomers as comprising the majority of the U.S. electorate (Fry, 2018). In short, Millennials are about to take over the world. Yet, even as Millennials surpass Boomers in their sheer numbers (not to mention contributions to the economy), they continue to be treated by many industries and institutions as a niche market, whose values, beliefs and behaviors are at best inscrutable
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“Planning challenge: Aging clients, no kids, assisted living required,” by Ann Marsh, Financial Planning “Choosing an assisted living facility can be frightening prospect for anyone, but the fear can be greater for people with no kids to help them through the process. … While most elderly people receive some care from family members, the number of those able to help ‘is unlikely to keep pace with future demand’ as people live longer, the study found. … Nicklas, Thakor and other planners offer the following advice:” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Double whammy. More
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“How to protect your retirement when your senior parent needs financial help,” by Tamara E. Holmes, USA Today “A growing number of seniors are finding themselves needing financial help. A study released this month by the Consumer Bankruptcy Project found that bankruptcy filings among people 65 and older have tripled since 1991. Sometimes medical costs are to blame; in other cases, seniors find that they have not saved enough for retirement.  Like Holmes, many adult children step in to provide their parents with financial relief. … If you’re planning to offer financial help to mom and dad, here’s how to
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“LTCG to Provide Administration to Wilton Re in Support of Its Transformative Reinsurance Transaction with CNO Financial,” by Business Wire, Yahoo Finance “LTCG has entered into a strategic contract to support Wilton Re in the administration of long-term care insurance (LTCi). On August 1, CNO Financial Group announced that its wholly-owned subsidiary, Bankers Life and Casualty Company, signed a long-term care insurance indemnity reinsurance agreement with Wilton Re. This agreement covers nursing home and comprehensive LTCi forms sold prior to 2003. The transaction is anticipated to close no later than the end of 2018. Wilton Re has selected LTCG to
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“Are You Ready for Longevity? 4 Steps to Take Now,” by Tracy Craig, Kiplinger “Consider purchasing long-term care insurance while you’re still healthy enough to qualify, so you don’t have to use all of your own money to pay for your care. Long-term care insurance typically pays for both skilled nursing home care and in-home health care aides.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Kiplinger’s periodic advice to buy LTCI is always welcome. Are You Ready for Longevity? 4 Steps to Take Now #longevity #goldencareagent
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