“2023: The Year Medicare Advantage Begins To Dominate Traditional Medicare,” by Bruce Japsen, Forbes Quote: “With almost one in two seniors now enrolled in the privatized health plan alternative to traditional Medicare known as ‘Medicare Advantage,’ look for growth to escalate in 2023 and beyond. Though there have been probes into aggressive marketing practices and other allegations against Medicare Advantage plans, the privatized program has survived myriad examinations by lawmakers and prosecutors and is now one of the more bipartisan policy initiatives in Washington with more than 28 million seniors enrolled in a Medicare Advantage plan in 2022, which accounted for 48% of Americans
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“’Must Pass’ Spending Bill Includes 401(k) LTCI Premium Provision,” by Allison Bell, ThinkAdvisor Quote: “A 401(k) plan participant could spend up to $2,500 per year in distributions on long-term care insurance premiums. The distributions would be included in taxable income but not subject to the 10% early withdrawal tax. The language is similar to the language in section 213 in the stand-alone version of the EARN Act.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Fingers crossed for this provision to pass, although the Omnibus containing it is dubious fiscal policy.     Subscribe to GoldenCare
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“Regulators End Effort to Develop Long-Term Care Hybrid Rules,” by Allison Bell, ThinkAdvisor Quote: “The National Association of Insurance Commissioners has stopped trying to develop new regulations for new types of long-term care benefits products, such as those that combine long-term care benefits with life insurance. Members of the NAIC’s Senior Issues Task Force have voted to shut down an arm — the Long-Term Care Insurance Model Update Subgroup — because the last chair quit in December 2021, finding a new chair has been difficult, and only one person has asked about the subgroup since the last chair left.”   LTC Comment, Stephen A. Moses, President,
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“Enemies,” by Ronald R. Hagelman, Broker World Quote: “In my humble opinion no one has been a more consistent hard headed advocate of exposing the corrosive relationship between the public response to custodial care for the aged and the lack of success in private responses to reduce and return control of individual claims destiny than Stephen Moses. His most recent manifesto ‘Long-Term Care: The Problem’ recently released from the Paragon Health Institute once again provides conclusive irrefutable evidence that the still mushrooming consequence of current market conditions is the fault of existing misguided public response to the problem. The truth
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“The 10 Fastest Rising Costs for Seniors,” by John Manganaro, ThinkAdvisor Quote: “To recognize the challenges facing today’s retirees, the Senior Citizens League has published its own analysis identifying the fastest-rising costs for its constituents, using year-over-year CPI data from October. The key findings are included in the following slideshow.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Seniors find themselves in the eye of the inflation storm. Ironically, it’s the government’s solution (more spending and demand) that cause the problem (higher prices without commensurate supply). The result is more economic pain especially for seniors and
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