“Inside the Social Security COLA Calculations,” by Gene Bond and Lloyd Lofton, ThinkAdvisor Quote: “Social Security managers base the COLA on changes in the cost of one basket of goods and services. They could base the COLA on the cost of another standard shopping basket. What if you client has a completely different basket?”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Seems worthwhile to think about this topic a little. Inflation is on the rise. It affects different people in different ways but is really devastating to those on the financial edge. The flip side
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“Social Security COLA for 2023 Set at 8.7%,” by John Manganaro, ThinkAdvisor Quote: “With the final inflation data published for the third quarter, the Social Security Administration can set the final 2023 cost-of-living adjustment. A COLA adjustment of this magnitude is exceedingly rare, so retirees should enjoy it while they can, sources say. Even with a significant COLA for 2023, it will likely be hard for retirees to keep up with inflation.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Hold the champagne. The government pays this inflation-fighting cost of living increase with borrowed or printed
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“The US Needs To Help Seniors And Their Families Navigate Long-Term Care,” by Howard Gleckman, Gleckman Blog Quote: “Your mom has been hospitalized for two weeks following a stroke. One morning, she’s told she’ll be discharged by the end of the day. Mom calls you in a panic. You rush to the hospital and ask for advice. Instead, you get a much-copied list of local skilled nursing facilities and a wave good-by. This scene is played out thousands of times a day. It may happen with discharges from a hospital to skilled nursing facility or from a nursing facility to home.
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“Parkinson: Nursing home sector pinning hopes on ‘Medicaid adequacy’ rule,” by Jim Berklan, McKnight’s LTC News Quote: “After characterizing business conditions as ‘never worse, the skilled nursing sector’s top advocate said stakeholders need more help from both the federal and state governments to forge a viable path forward. The solution could lie in the Centers for Medicare & Medicaid Services universally demanding that states prop up Medicaid payments, said Mark Parkinson, the president and CEO of the American Health Care Association/National Center for Assisted Living, during a media briefing Tuesday at the group’s annual meeting. … Parkinson said CMS, as usual,
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“Providers demand tax credit to help New Yorkers fund home care,” by Diane Eastabrook, McKnight’s Home Care Quote: “A new pay increase for New York home care workers could make it even tougher for middle-income New Yorkers to afford care, according to the Home Care Association of America. That is why HCAOA is urging the New York Legislature to pass a tax credit to middle-income seniors who don’t qualify for Medicaid and Medicare services to help pay for home care services. …  A report last year found 74% of seniors and people with disabilities were unable to retain home care workers
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