“Rise of Managed Medicaid Could Deepen Skilled Nursing Financial Woes,” by Maggie Flynn, Skilled Nursing News “Increasing numbers of states have begun exploring managed Medicaid programs as a means of achieving savings as their populations age. But unless officials provide crucial oversight, skilled nursing facilities could find themselves under even worse financial pressures.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): When state Medicaid programs use managed LTC to dodge responsibility for care quality and access by simply writing checks, it ends badly not just for the dependent welfare recipients but for the dwindling number of
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“Insurance Agents Bullish On Long-Term-Care Policies,” by Joyce Blay, Financial Advisor “Insurance agents are optimistic they will sell more long-term-care policies in 2019 than they did in 2018, according to a national survey conducted by the American Association for Long-Term Care Insurance, headquartered in Westlake Village, Calif. … The vast majority (79.2 percent) said they expected new policy sales in 2019 to be higher or at least equal to sales in 2018. Only 20.8 percent of respondents said they expected lower sales this year. An even greater majority (92.8 percent) of respondents said they expected sales of linked-benefit LTC policies to
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“Genworth Says It Needs $6 Billion in Additional LTCI Rate Hikes,” by Allison Bell, ThinkAdvisor “Executives from Genworth Financial Inc. said Wednesday that the company’s Genworth Life Insurance Company (GLIC) unit could see its solvency level deteriorate if state insurance regulators fail to approve $6 billion in additional long-term care insurance (LTCI) rate increases.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): When will we see a similar announcement from the biggest (social) insurance carrier? To wit: “Executives from the U.S. Government said Social Security and Medicare solvency will collapse without massive payroll deduction increases.” Don’t hold
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