“60 Seconds with Steve Monroe,” by Steve Monroe, The Senior Care Investor Quote: “Are people in our nation’s capital really that out of touch with reality on the ground? Yes. “Finding quality staff is hard enough in skilled nursing facilities, but then getting reimbursed to pay for them is even harder. So, my senator from Connecticut is a co-sponsor of the Quality Care for Nursing Home Residents Act. Now, who doesn’t want quality care for nursing home residents? I assume everyone, except those who would like to put the sector out of business. “For your standard 120-bed nursing facility,
Read More
“5 Facts About the Senate Finance Long-Term Care Hearing”
“5 Facts About the Senate Finance Long-Term Care Hearing,” by Allison Bell, ThinkAdvisor “A Republican on the Senate Finance Committee says he’s trying to do what he can to revive the market for long-term care insurance (LTCI). Sen. Pat Toomey, R-Pa., announced Wednesday, at a hearing on Alzheimer’s awareness organized by the committee’s health subcommittee, that he’s circulating a discussion draft of a plan for letting people use money from their retirement plans to pay for LTCI coverage. … Here are four other facts about what happened during the hearing: … Links to resources related to the hearing, including a video recording
Read More
“The typical American heir is now a middle-class 50-something who puts the money toward retirement”
“The typical American heir is now a middle-class 50-something who puts the money toward retirement,” by Tanza Loudenback, Business Insider “Over the last 30 years, Americans receiving inheritances have gone from an average age of 41 to 51, according to a new white paper published by United Income from Capital One. As of 2016, more than a quarter of inheritances go to people over age 61. Oftentimes, they’re used to bolster financial security in retirement. Researchers say Americans receiving larger inheritances later in life is the result of increased life expectancy, solid market returns, and retirees spending less than they
Read More
Good News | How Much Will Your LTC Clients Save Under 2020 Tax Deductible Limits?
New 2020 Tax Deductible Limits for LTCi Just Announced Increased tax deductible limits can be a significant benefit for those with tax-qualified long-term care insurance policies, according to the American Association for Long-Term Care Insurance. The following are the just-announced 2020 limits (2019 in brackets): Attained Age Before Close of Taxable Year 2020 Limit (2019) 40 or less $430 ($420) More than 40 but not more than 50 $810 ($790) More than 50 but not more than 60 $1,630 ($1,580) More than 60 but not more than 70 $4,350 ($4,220) More than 70 $5,430 ($5,270) Click here for the
Read More
Special Announcement | Happy Thanksgiving!
The GoldenCare Office will be closed November 28th & 29th for Thanksgiving, reopening for business on December 2nd at 8:00 a.m. Central Time. For The Week Of November 25, 2019 There are no planned webinars for this week. Visit our Pre-Recorded Training Library to get on-demand training for a variety of products & topics!
Read More
“Must-Know Statistics About Long-Term Care: 2019 Edition”
“Must-Know Statistics About Long-Term Care: 2019 Edition,” by Christine Benz, Morningstar “To help you arrive at a plan for how you’ll manage your own long-term care costs, I’ve assembled a now-annual compendium of statistics on long-term care. How likely are you to need long-term care and for how long? What does long-term care cost, and what does it cost to insure against it? Who’s providing care, and what toll is that taking on the caregivers?” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Useful reminder.
Read More
“Free Long-Term Care for All?”
“Free Long-Term Care for All?,” by Romeo Raabe, ThinkAdvisor “Last week, Joanne Lynn, M.D, a noted geriatrician, warned members of Congress that enormous misery is coming. It will come within the next 10 years, if the country fails to improve support programs for the elderly. Many baby boomers believe that long-term care is free of charge from the government and have failed to plan for it. Most have completely ignored this topic, as it is not fun to think about or discuss. … If those who could pay for their care did (or frugally bought LTC insurance), there would be
Read More
“State Faces $6.1 Billion Deficit Amid Medicaid Woes”
“State Faces $6.1 Billion Deficit Amid Medicaid Woes,” by Nick Reisman, Spectrum News “Added expenses for the state’s health care program for the poor has contributed to a $6.1 billion budget gap, according to a mid-year update released on Friday by Gov. Andrew Cuomo’s budget office. The report, released weeks after legally mandated deadline was blown, points to increases in the minimum wage, a phase out of added funding by the federal government and an increase in enrollment and costs for managed long-term care and payments to cash-distressed hospitals.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term
Read More
“OK Boomer”
OK Boomer,” Wikipedia OK Boomer’ is a catchphrase and internet meme that gained popularity among younger cohorts throughout 2019, used to dismiss or mock attitudes stereotypically attributed to the baby boomer generation.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): The phrase “OK Boomer” is all over the media lately. Here’s what it means. Perhaps the long-predicted generational conflict is finally taking hold.
Read More
“Opinion: How far off are the actuarial adjustments of Social Security benefits?”
“Opinion: How far off are the actuarial adjustments of Social Security benefits?,” by Alicia H. Munnell, “The stylized fact that high earners live longer and claim later adds a distributional consideration to these findings. At the simplest level — taking the adjustments as given — low earners claim early and are overcharged for that privilege, and high earners claim later and are rewarded roughly correctly. The simple results, however, substantially understate the advantages for high earners. The evaluation of the adjustments presented above was based on the life expectancy of the average worker. If the assessment had been based on the
Read More