“Long-term care accounts for 54 percent of healthcare bankruptcies this year,” by Kathleen Steele Galvin, McKnight’s Senior Living Quote: “Bankruptcies in the healthcare industry are trending up by more than 25% this year, and 54% of them have happened in senior living and other long-term care settings, particularly in skilled nursing facilities, according to data released by Gibbins Advisors. The experts expect the numbers to accelerate through 2023.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: So naturally CMS is piling on more regulations, cutting reimbursements, and demanding more “value” from long-term care providers.      
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“7 Reasons New York’s $26M John Hancock LTCI Action Matters for Advisors,” by Allison Bell, ThinkAdvisor Quote: “State Medicaid could start to go after insurers and other financial services companies that fail to live up to agreements with people who end up using Medicaid to pay nursing home bills. New York state insurance regulators raised that possibility last week, when they announced a $26.3 million consent agreement with Manulife’s John Hancock unit.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Good luck with that! Medicaid will need to do a much better job than it has with
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“Updated numbers on people exempted from state’s long-term-care program and payroll tax,” by Elizabeth Hovde, Washington Policy Center Quote: “As of Monday, Aug. 15, the Employment Security Department reports the following WA Cares exemption numbers: Total opt-out requests submitted: 478,781 Total opt-out requests processed: 478,681 Total opt-out requests approved: 475,072 Applications processed as a percentage of total: 99.98%”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Looks like a slam dunk to get your opt out request approved.       Subscribe to GoldenCare News  
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“Over 50% Of Generation X Can’t Afford To Help Their Senior Parents,” Advisor Magazine Quote: “To learn exactly how Gen X adult children are feeling about their parents’ financial state, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents. To read the full results of AAG’s Adult Children Survey, visit here.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Home equity to the rescue, just as we’ve long predicted. But that means Gen X inheritances will be subdued compared to the
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“With new acquisition, Humana carves out larger slice of Medicaid pie,” by Diane Eastabrook, McKnight’s Home Care Quote: “Humana’s announcement last week to acquire Wisconsin managed care organization Inclusa moves the company deeper into the lucrative long-term care services and supports market for Medicaid beneficiaries, as well as beneficiaries dually eligible for Medicare and Medicaid. … Medicaid has become an increasingly attractive business for payers as increased federal funds during the COVID-19 pandemic encouraged states to expand their Medicaid programs. A temporary 10% increase in the Federal Medical Assistance Percentage (FMAP) will provide an additional $12.7 billion for states through March 2024.  A recent report by the
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