“Washington is 1st state to allow composting of human bodies,” by Gene Johnson, Associated Press “Gov. Jay Inslee signed legislation Tuesday making Washington the first state to approve composting as an alternative to burying or cremating human remains. It allows licensed facilities to offer ‘natural organic reduction,’ which turns a body, mixed with substances such as wood chips and straw, into about two wheelbarrows’ worth of soil in a span of several weeks. Loved ones are allowed to keep the soil to spread, just as they might spread the ashes of someone who has been cremated — or even use
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“5 insights from NIC’s Middle Market Investor Summit,” by Lois A. Bowers, McKnight’s Senior Living “Several panelists shared insights about current and potential efforts to meet middle-income older adults’ senior housing and care needs on Tuesday at the National Investment Center for Seniors Housing & Care’s Middle Market Investor Summit in New York City. The event came as NIC released an analysis showing that reducing the annual cost of senior living by $10,000 could enable 2.3 million more older Americans to afford it, and reducing it by an additional $5,000 on top of that would enable 3.6 million more people to afford
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“Advisors create a game plan to prepare clients for this retirement expense,” by Sarah O’Brien, CNBC “Depending on the specifics of your situation, it could make sense to purchase some form of insurance or to self-insure — that is, rely on your own assets — to fund the unpredictable costs related to LTC. Outside of that, leaning on family members or spending down (or shielding) assets to qualify for Medicaid-sponsored nursing-home care are options.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Let’s see, take personal responsibility or shield assets to get Medicaid? Such is
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“LTC insurer offering co-pays to blunt soaring premium increases,” by Greg Iacurci, InvestmentNews “In an effort to blunt soaring premium increases on its long-term-care insurance policyholders, one insurer is offering policyholders a discount if they agree to a co-pay on claims. John Hancock Life Insurance Co. is trying the new approach. It will start offering the co-pay option to policyholders later this year, which experts believe is a first among long-term care insurers trying to rein in rate increases. The idea is similar to that of a co-pay for medical insurance. For example, a policyholder might elect a co-pay, say
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“Social Security just ran a $9 trillion deficit, and nobody noticed,” by Laurence Kotlikoff, The Hill “Social Security’s annual Trustees Report came out recently, and it showed Social Security ran a gigantic $9 trillion deficit between last year and this year. The system’s long-term unfunded liability is now $43 trillion, up from $34 trillion last year.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is the best article on the Social Security crisis I’ve seen … and it comes with a credible solution.      
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“What You Need To Know About Washington State’s Public Long-Term Care Insurance Program,” by Howard Gleckman, Forbes Quote: “The most notable fact about this law is that it is the first in the nation. The details are far less important than the politics.” LTC Comment: When “the most notable fact” about a new government program is that “it is the first in the nation,” hold on to your wallets and pay attention to the fine print. Quote: “Only Washington residents age 18 or older who have paid the payroll tax for either 10 years without interruption of five consecutive years,
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“New Tax Will Help Washington Residents Pay for Long-Term Care,” by Ron Lieber, New York Times “Eligible residents who live in Washington State will have a new benefit available to them starting in 2025: a $100-per-day allowance for a variety of long-term care services, which will last up to a year. The money will come from a payroll tax that begins in 2022, according to rules in a bill that the state’s governor signed Monday. Residents’ employers will put 0.58 percent of their paychecks — $290 for every $50,000 in income — into a state fund. Washington does not have a state
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