“Economic Impact: The Senior Living Effect White Paper,” Argentum “Senior living has an economic impact of almost a quarter of a trillion dollars—greater than auto manufacturing and air transportation. That and other enlightening data is part of this visually rich, 12-page white paper on senior living as a major economic driver, affecting multiple industries including restaurants, hotels and motels, real estate, and construction. In this white paper, you’ll get access to economic impact highlights from a study commissioned by Argentum and performed by Tripp Umbach. These include: • Infographics on senior living economic impact nationally and in five significant states;
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“Fitch: Some LTCI Issuers Look a Lot Better Than Others,” by Allison Bell, ThinkAdvisor “Analysts at Fitch Ratings have been saying, in public, for more than a year, that U.S. long-term care insurance (LTCI) issuers should post more LTCI performance data. … Now, Anthony Beato and other analysts at Fitch have come out with a new report of their own on the financial wellness of the LTCI companies they rate. The analysts look at GE along with another reinsurer, Wilton Re Ltd., and 14 other companies. The 14 other companies are known primarily as direct writers of LTCI coverage but
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“Immigrant sponsors’ assets will factor into Medicaid eligibility,” by Susannah Luthi, Modern Healthcare “The CMS on Friday told states they can count the assets and income of the sponsors of legal immigrants when they’re determining whether the immigrants qualify for Medicaid or Children’s Health Insurance coverage. If states don’t like the methodologies suggested by the CMS, they can come up with an alternative but will need agency approval. The guidance is part of the broader White House immigration policy strategy and tighter restrictions on legal immigrants who apply for public benefit programs.” LTC Comment (from Stephen A. Moses, President, Center
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“5 Things for Agents to Know About the Big New Accounting Thing,” by Allison Bell, ThinkAdvisor “The Financial Accounting Standards Board (FASB) says it wants to postpone the compliance deadlines for a major new batch of accounting rules. The move could affect financial reports for life insurance policies, annuities, long-term disability insurance policies, long-term care insurance policies, and many other ‘long-duration insurance contracts.’ … But, over the next few years, what happens to FASB Accounting Standards Update 2018-12 could have effects on life insurance agents and brokers that will last a lot longer than the effects of this weekend’s weather.
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“Money, Data and Backup Plans: Why In-Home Medicare Advantage Benefits Are Rolling Out Slowly,” by Bailey Bryant, Home Health Care News “Despite Medicare Advantage (MA) plans being recently allowed to cover a wide variety of in-home services and supports, insurers have been slow to roll out new supplemental benefits. In 2019, only 3% of Medicare Advantage plans offered in-home care services, according to AARP. Some think the tides will turn in 2020 — but even then, roadblocks remain, the biggest being finances, data and implementation. ” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): As predicted, this new benefit is
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“Long-Term Care Insurance Policyholders Ask for Relief,” by Allison Bell, ThinkAdvisor “The Maryland Insurance Administration attracted just two policyholders today to a public hearing on three long-term care insurance (LTCI) issuers’ rate increase requests. The issuers making the requests were John Hancock Life Insurance Company, Prudential Insurance Company of America and UNUM Life Insurance Company of America. The Maryland Insurance Administration streamed the hearing live on the web, through its Facebook page.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Maybe this isn’t quite the burning worry most hyperventilating media stories make it out to be.
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