“Ben Veghte: As long-term care needs grow, WA Cares offers long-term solution for working Washingtonians,” by Ben Veghte, The Spokesman-Review “As we approach the start of contributions to the WA Cares Fund, the state’s new long-term care insurance program, there are understandable questions about the program, its costs and the benefits. … WA Cares is intended to provide access to long-term care for the broad middle class. Without WA Cares, people who need care are forced to pay for everything out of pocket and often spend down their life savings to just $2,000 to qualify for Medicaid. Loved ones
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  “Medicaid changes could help assisted living help more older adults,” by Joseph Demattos, Jr., McKnight’s Senior Living  “It’s a fact that assisted living communities play a vital role in the country’s residential and healthcare infrastructures. They provide a unique mix of housing services, assistance with activities of daily living while allowing independence and social wellness for people as they age. … Sadly, it’s also a fact that assisted living communities are financially out of reach for many people and families in need. … Medicaid rates are lower for assisted living communities than nursing homes because, technically, they  are providing
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  “Medicare Advantage retaining sicker patients with more complex health needs: study,” by Alicia Lasek, McKnight’s LTC News  “Investigators found that seniors with chronic conditions were not more likely than their healthier peers to disenroll from their MA plans during the study period. There is no longer a clear incentive for providers to skimp on health services as there was in the original MA model, reducing beneficiaries’ need to switch, the researchers explained. The Medicare program now incentivizes the enrollment of a larger proportion of lower-income and minority groups, and people with multiple chronic conditions, they said. Yet, the most vulnerable
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  “Originally, WA Cares was supposed to begin collecting taxes in 2022. The program is supposed to start paying up to $36,500 in benefits to eligible participants starting July 1, 2026. WA Cares could serve as a model for a public LTC benefits program in California.” Advisor Magazine “U.S. households ages 55-plus control 74% of investable assets, but whether these households are retired has little to do with their asset levels, according to a new market sizing report by Hearts & Wallets, the independent research and benchmarking firm that specializes in saving, investing and financial advice. … The 130 million
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  “Washington State Long-Term Care Insurance Program to Launch Saturday,” by Allison Bell, ThinkAdvisor “Originally, WA Cares was supposed to begin collecting taxes in 2022. The program is supposed to start paying up to $36,500 in benefits to eligible participants starting July 1, 2026. WA Cares could serve as a model for a public LTC benefits program in California.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: More likely WA Cares will be a red flag warning for other states and the federal government of what not to do.   Subscribe to GoldenCare News  
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