“Aging population to hit U.S. economy like a ‘ton of bricks’ -U.S. commerce secretary,” by Andrea Shalal, Reuter’s Quote: “President Joe Biden does not yet have enough support from fellow Democrats to secure $400 billion in spending for at-home care for the elderly and disabled that the economy desperately needs, Commerce Secretary Gina Raimondo told Reuters on Monday. Raimondo, who is paying for round-the-clock care for her own 90-year-old mother, said America’s aging demographics were going to hit the country ‘like a ton of bricks’ without increased federal aid, and warned the current situation was ‘untenable.’”   LTC Comment, Stephen
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“How Might the FDA’s Approval of a New Alzheimer’s Drug Impact Medicaid?,” by Rachel Dolan and Elizabeth Williams, Kaiser Family Foundation Quote: “The recent approval of Aduhelm (aducanumab), which treats Alzheimer’s disease and carries an expected annual price tag of $56,000, has brought increased attention to high-cost drugs approved through the FDA’s accelerated approval pathway. While Medicare and its beneficiaries likely will be most impacted by the costs of the drug, as Alzheimer’s disease is most prevalent among older adults, the drug approval also has implications for Medicaid spending. Medicaid covers more than 80 million people, including many older adults who have not yet reached the age of
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“The Haddits have left the building,” by John O’Connor, McKnight’s LTC News Quote: “We’re seeing some unusual developments as long-term care recovers. One is that many employees seem to be embracing a different general outlook. And not different in an all-is-well kind of way. More like different in an “I’ve had it” kind of way. And how, exactly, have they had it? Let us count just some of the ways: They’ve had it with a facility so consistently messed up. They’ve had it with crappy equipment and screwy work schedules. They’ve had it with me-first managers and practicing politicians masquerading
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“’Some Hope Is Better Than Having No Hope’,” by Pam Belluck, The Daily Quote: “When the F.D.A. approved the drug Aduhelm, the first Alzheimer’s treatment to receive the agency’s endorsement in almost two decades, it gave hope to many. But the decision was contentious; some experts say there’s not enough evidence that the treatment can address cognitive symptoms. What is the story behind this new drug?”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: This podcast comes highly recommended by Center friend and supporter Honey Leveen, the “Queen of LTCI.”           Subscribe
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“Employers Must Collect Employee Premiums under the New “Washington Cares” Program Starting 1/2022; Employee Window to Obtain Alternate Coverage Closes on 11/2021,” JDSupra   Quote: “Is there a cap on either the employee premium or the benefits an employee can receive?  Notably, there is no cap on the employee premium collected.  Thus, highly compensated employees will contribute more to the Fund based on their earnings, yet they will only be eligible to receive the same lifetime benefit of $36,500, indexed for inflation, as all other employees.  Employers may want to flag this feature of the law to their employees, especially
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“Social Security COLA Estimate for 2022 Raised to 6.1%,” by Ginger Szala, ThinkAdvisor Quote: “The annual cost-of-living adjustment, or COLA, for Social Security benefits in 2022 — usually announced in October — could be 6.1%, the highest since 1983, based on Tuesday’s Consumer Price Index announcement, according to Social Security and Medicare policy analyst Mary Johnson of the Senior Citizens League, which estimated the 2022 COLA at 5.3% a month ago.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Whoopee! Don’t spend it all in one place. The June CPI increase was .9%, 10.8% annualized, so
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“CalPERS settles long-term care insurance lawsuit, agreeing to pay up to $2.7 billion,” by Wes  Venteicher, The Sacramento Bee Quote: “CalPERS has agreed to pay up to $2.7 billion to settle a lawsuit over big price hikes the retirement system imposed on long-term care policyholders eight years ago. The agreement, announced Tuesday in a joint news release, settles a class-action lawsuit policyholders filed in 2013. They filed the lawsuit after receiving notices that their premiums would rise 85% in two increases in 2015 and 2016. The $2.7 billion will be used to refund affected policyholders’ premiums and provide other benefits, according
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