“Medi(long-term)care for All: A Look into the Future of Long-Term Care Insurance—Part Two”

  “Medi(long-term)care for All: A Look into the Future of Long-Term Care Insurance—Part Two,” by Stephanie Moench and Shawn Stender, Society of Actuaries Long-Term Care News   Quote: “Conclusion: While the case study performed demonstrates that a social LTC program similar to that adopted in Washington state could be beneficial for both consumers and LTC insurers, it is still un-clear whether this type of program would be the best fit for the current social, political and economic environment in the United States. Additionally, there are a number of unknowns, including funding and program features, which would need to be addressed
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Categories: Clippings, Industry News, and Long-Term Care.

“Why Nursing Homes Are Pandemic Hotbeds (Guest: Stephen Moses)”

  “Why Nursing Homes Are Pandemic Hotbeds (Guest: Stephen Moses),” by AnneMarie Schieber, Heartland Podcast   Quote: “Rich or poor, nearly 60 percent of care in nursing homes is paid by taxpayers under Medicaid. This has led to crowded, poorly staff situations that made it easy for an invisible virus to run like wildfire. Stephen Moses describes how Medicaid has exceeded its mission in paying for long term care for the medically needy or those with little to no income and now pays for care for nearly anyone. This giveaway has been a disincentive for people to save for long term
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Covid-19: Don’t Mess With My Retirement”

“Covid-19: Don’t Mess With My Retirement,” by Ken Dychtwald and Bob Morison, Forbes     Quote: “This is the first in a 10-part series on “The Future of Retirement” that we will be posting over the next several months. If you are interested in better understanding what’s ahead – we invite you to check out our new book What Retirees Want: A Holistic View of Life’s Third Age.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Timely advice from the Age Wave guru.      
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“State Regulators May Form LTCI ‘Rate Hike v. Reduced Benefits’ Panel”

“State Regulators May Form LTCI ‘Rate Hike v. Reduced Benefits’ Panel,” by Allison Bell, ThinkAdvisor   Quote: “State insurance regulators may look harder at the options long-term care insurance (LTCI) issuers present when giving policyholders a choice between big premium increases or reduced benefits. The Long-Term Care Insurance Task Force is thinking about setting up an LTCI Reduced Benefit Options Subgroup.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): The government is coming to help you.      
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Categories: Clippings, Industry News, and Long-Term Care.

“COVID-19 has not changed consumer sentiment toward seniors housing: survey”

“COVID-19 has not changed consumer sentiment toward seniors housing: survey,” by Kimberly Bonvissuto, McKnight’s Senior Living   Quote: “The COVID-19 crisis has not changed consumer sentiment much toward independent living and assisted living, according to preliminary findings from a national survey. … Among survey respondents, 61% report no change in their opinion about independent living since the onset of the pandemic, although most who have changed their opinion (35%) report having a less favorable opinion. More than half (53%) of adult children surveyed report no change in their opinion of assisted living, although 36% report a less favorable opinion and
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Coalition forms to oppose potential long-term care budget cuts”

“Coalition forms to oppose potential long-term care budget cuts,” by Michael Goldberg, Washington State Wire   Quote: “A group of Long-Term Care advocates in Washington State have formed a coalition in response to potential budget cuts to services utilized by senior citizens and people with disabilities. The coalition — which includes AARP, SEIU 775, Washington Health Care Association, Casa Latina, and several other organizations — formed after a budget reduction exercise conducted by the Office of Financial Management (OFM) indicated that as much as $220 million in cuts to aging and long-term care services could occur to help balance the state budget.” LTC Comment
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“OSHA blasted for inaction on COVID-19 pleas”

“OSHA blasted for inaction on COVID-19 pleas,” by Alicia Lasek, McKnight’s LTC News Quote: “Complaint logs reveal thousands of ‘desperate pleas’ to a workplace safety agency for protective gear by staff at nursing homes, hospitals and medical offices. Unfulfilled requests may have contributed to worker deaths, according to a new report. The Occupational Safety and Health Administration has logged more than 4,1000 COVID-related complaints since March. At least 35 healthcare workers died after the agency received safety complaints about their workplaces. But the agency had ‘quietly closed almost all of those complaints, and none of them led to a citation
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Long Term Care Insurance — Act Now!”

“Long Term Care Insurance — Act Now!,” by Terry Savage, TerrySavage.com Quote: “One of the most tragic aspects of the coronavirus pandemic is that as of June 3, 42% of all COVID-19 deaths in the U.S. have come from nursing homes or assisted-living facilities. The statistics reinforce every senior’s desire to remain at home in his or her final years, which is only possible if you have the resources to afford this very expensive home health care — or if you have long-term care (LTC) insurance. Otherwise, state Medicaid programs provide care for the impoverished, though mostly in institutions. Perhaps
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Genworth Says Would-Be Buyer Is Having Trouble Closing on Financing”

“Genworth Says Would-Be Buyer Is Having Trouble Closing on Financing,” by Allison Bell, ThinkAdvisor   Quote: “Genworth Financial Inc. says China Oceanwide Holdings Group Co. Ltd. of Beijing is having trouble nailing down the financing it needs to pay to acquire Genworth. … Genworth and China Oceanwide said they will push the deal completion deadline back to Sept. 30, from June 30. … ‘We have overcome many hurdles during the past three and half years and continue to persevere because of the future value of Genworth to our vision of pursuing the significant opportunities for long term care (LTC) insurance
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Categories: Clippings, Industry News, and Long-Term Care.

“CNA to Offer Some LTCI Insureds Free Concierge Services”

“CNA to Offer Some LTCI Insureds Free Concierge Services,” by Allison Bell, ThinkAdvisor Quote: “CNA is trying to keep its long-term care insurance (LTCI) insureds in their homes longer by offering some free advice on community resources. … Live humans at The Helper Bees, the company running the program, will give the insureds personalized advice about what their situation is and what kinds of services they need. … CNA no longer sells LTCI coverage, but it was once a major LTCI issuer, and it continues to provide LTCI coverage for many longtime policyholders.” LTC Comment (from Stephen A. Moses, President,
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Categories: Clippings, Industry News, and Long-Term Care.