“Covid Has Black Americans Thinking More About Financial Planning,” by Jacqueline Sergeant, Financial Advisor Quote: “Nearly three-quarters (74%) of Black consumers indicated that they are planning to make permanent changes to the way they spend and save. Seventy-five percent also are thinking and planning for their financial future differently. … Black consumers also are more likely to think now is a good time to purchase a financial product that protects their investments against market downturns (28%) and offers protected lifetime income (31%). They also are interested in purchasing a long-term care insurance policy (26%), increasing coverage on an existing life
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“MA Enrollment in Plans With Extra Benefits for Chronically Ill Tripled in 2021,” by Robin Duddy-Tenbrunsel, Avalere Quote: “New analysis of 2021 benefits and enrollment from Avalere finds that 787 MA plans offered by 44 parent organizations are providing special supplemental benefits for the chronically ill (SSBCI) in 2021. Those plans represent 16% of all analyzed MA plans. A majority (86%) of the total Medicare beneficiary population live in counties where at least 1 MA plan that offers at least 1 type of SSBCI is available. Overall, in 2021, 15% of enrollees in non-employer MA plans are enrolled in plans
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“Legal experts warn of incoming lawsuits for long-term care,” by Amy Novotney, McKnight’s Senior Living     Quote: “Legal teams for both long-term care operators and the residents and families affected by the COVID-19 pandemic are gearing up for lawsuits alleging neglect and wrongful death as a result of the virus — proceedings in which many of the rules are still being determined. ‘It’s not very often that you’re on the cusp of an entirely new cause of action,’ Rachel Stahle, a nursing home abuse and neglect attorney and a partner at Kansas City, MO-based law firm Dollar Burns &
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“Why the Medicaid block grant is the right strategy for Tennessee | Opinion,” by Shane Reeves, Tennessean   Quote: “Tennessee will be the first state to put a Medicaid block-grant program into effect now that the Centers for Medicare and Medicaid Services (CMS) recently approved the waiver. Block grants are fixed amounts of money that the federal government awards to states, allowing them to provide funding for benefit programs and services. A block grant enables state governments to serve broader purposes with greater flexibility with fewer administrative conditions. In the words of CMS Administrator Seema Verma, this block grant program represents ‘innovation
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“Long-term care in the age of Covid, and beyond,” by Susan Goldberg, Advisor’s Edge Quote: “It’s unusual for a source to cry during an Advisor’s Edge interview. Then again, these are unusual times. And when the interview is about long-term care (LTC) for seniors in the age of Covid-19, shedding a few tears seems like a logical response. Of the more than 14,000 Canadian deaths attributed to the pandemic (as of early January), a heartbreaking 73% were in long-term care and retirement homes.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Long-term care and LTC insurance
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“Using Estate Planning to Prepare for Medicaid,”ElderLawAnswers Quote: “Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: According to this article, estate planning for long-term care includes irrevocable trusts, Medicaid-friendly annuities, and hiding the home from Medicaid estate recovery, but not long-term care insurance. How can private insurance compete with that? Are you supporting the Center for Long-Term Care Reform, the strongest
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