“Milliman Report Shows $32.5B Value in Medicare Advantage,” by Amy Stulick, Skilled Nursing News   Quote: “Medicare Advantage delivers $32.5 billion, or $123.36 per member per month, in additional value to beneficiaries, according to a report released Thursday by the Better Medicare Alliance (BMA). Hospital and physician services are 24% less expensive per month: $709.66 for MA plans per month and $935.67 for Medicare FFS [fee for service]. These statistics exclude administrative expenses and profits, according to the report. … Still, one in five seniors don’t know the difference between Medicare Advantage and Medicare FFS, according to a poll conducted by BMA.”
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“Resourceless vaccine rule could have ‘disastrous’ impact on long-term care,” by Danielle Brown,McKnight’s LTC News   Quote: “Long-term care providers fear the federal government’s interim final rule requiring COVID-19 vaccination for all staff at Medicare- and Medicaid-funded facilities could have dire workforce consequences due to its tight deadlines and lack of financial support.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Politicians gain power by promising constituents something for nothing. Then they demand that the private sector cover their promises by doing something for nothing. In the end, TANSTAAFL reigns: “There ain’t so such thing as a
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“Genworth Might Resume Long-Term Care Insurance Sales by July,” by Allison Bell, ThinkAdvisor   Quote: “Genworth Financial is working with a reinsurer to begin selling a new individual long-term care insurance (LTCI) policy that could reach the market as early as July 1, 2022. … Although Genworth will try to resume selling stand-alone LTCI, it will focus more on providing advice and other low-capital activities, such as selling LTCI policies designed in such a way that a reinsurer shares most of the risk, McInerney said.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Once burned, twice cautious.
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“Many Now Use Life-LTC Hybrids to Pay for Care: Genworth,” by Allison Bell, ThinkAdvisor   Quote: “About 23% of U.S. residents getting long-term care may be using some form of private insurance to pay for long-term care services. Many are using stand-alone long-term care insurance (LTCI) coverage, almost as many are using products that combine long-term care with life insurance, and some are using both stand-alone LTCI coverage and life-LTC or annuity-LTC hybrids. Genworth Financial reported those findings Monday, in a summary of results from a recent survey that looks at how long-term care needs affect families. The survey sample
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“Family feels less guilt when loved one moves to assisted living versus nursing home: study,” by Kimberly Bonvissuto, McKnight’s Senior Living   Quote: “Loved ones who moved an older adult into assisted living reported having greater feelings of guilt related to that move due limits to their ability to provide assistance (35%) compared with providing care at home (22%), moving an older adult into a caregiver’s home (15%) or sending an older adult to an adult day facility (9%). The feelings of guilt were greater for families with loved ones that moved into nursing homes, however (40%). … Researchers said
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“Caregiving becoming more complex, consuming for family members, surveys reveal,” by Diane Eastabrook, McKnight’s Home Care   Quote: “Two recent surveys by financial services companies paint a stark picture for family caregivers. Genworth’s 2021 Cost of Care Survey of more than 1,300 family caregivers found 49% of care recipients required help in all aspects of daily living; that’s an increase from 39% in 2018. The survey found an increase in cognitive impairments among care recipients from 26% in 2018 to 32% this year. … The Genworth survey supports the findings of the recent Fidelity Investments American Caregivers study. That study found that
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“Redesigning The Washington Cares Act,” by Louis H. Brownstone, Broker World   Quote: “What can others learn from the Washington Cares Act experience? The main take-away is that in its efforts to be all-inclusive and ensure its solvency, the designers of the Washington Cares Act included some elements which were not well accepted by its participants and which might need some revising in the future. The problem is that many of these revisions would result in a shortfall of revenue and could necessitate an increase in the tax.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: The
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