““American seniors employed at record-high levels,” by Brittany De Lea, Fox Business,” by Brittany De Lea, Fox Business “As the record-long U.S. economic expansion continues, more seniors than ever appear to be putting off retirement. According to data from Deutsche Bank Securities chief economist Torsten Slok, the employment to population ratio for those aged 65 and over hit 20 percent in July – a record high.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): New long-term care plan: work until you drop.
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“New NAIC Long-Term Care Insurance Squad May Keep Some Work Private,” by Allison Bell, ThinkAdvisor “State insurance regulators might keep part of a major new long-term care insurance (LTCI) rate review regulation effort behind closed doors. The National Association of Insurance Commissioners formed a top-level Long-Term Care Insurance Task Force in April, to get the heads of state insurance regulatory agencies directly involved with addressing LTCI issuers’ plea for states to handle LTCI premium increase requests in a similar way. Thirty-six states agreed to join the task force, and 25 commissioners cared enough to show up for an in-person meeting in June, Scott
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“Things I Think: Good, Bad news,” by Gary Tetz, McKnight’s LTC News “Bad news, people. Alzheimer’s disease can be prevented. That might actually sound like good news, especially for those destined to be in our care. But here’s the dark side: Recent research suggests avoiding this dreaded disease might actually require personal responsibility and making better choices. Darn it, I knew there was a catch. A recent study presented at the Alzheimer’s Association International Conference identified five lifestyle habits that combined could reduce the risk by 60%. They’re just simple little things: eat a healthy diet, exercise regularly, don’t smoke,
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“Secret shoppers in LTC,” by Eleanor Feldman Barbera, McKnight’s LTC News “Posing as customers, ‘secret shoppers’ deliver the inside scoop to management about their experiences with various service providers. They can be invaluable to management in all kinds of situations, including long-term care, though there are special challenges there. … Even leaders who regularly walk the floors of their facilities know that the interactions between workers and their charges are different when senior managers aren’t observing. Discovering details of the day-to-day experiences of residents, families and staff can offer valuable insights that improve care quality, increase satisfaction and make a facility
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“Medicare Advantage Hasn’t Always Prioritized Skilled Nursing — But That’s Changing,” by Maggie Flynn, Skilled Nursing News “If skilled nursing facilities want to improve their relationship with managed care payers — particularly the ever-expanding Medicare Advantage plans — they have to ensure that they understand the payers’ pain points. … Managed Medicare plans have long been a thorn in the side of SNF providers, with lower reimbursements and intense length-of-stay pressures, but despite the challenges of managed care, many states see managed long-term supports and services (MLTSS) as the only way to manage their budgets as their populations age.”   LTC Comment (from Stephen
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“Advisor Alert: Learning Medicaid Planning Can Keep You From Getting Sued,” MedicaidPlanning.org “Every legal or financial advisor who works with seniors exposes themselves to LTC Medicaid eligibility malpractice from failing to understand how the advice that they give impacts or hinders Medicaid eligibility. Bad advice can have negative consequences. If those consequences cause the person receiving advice to be adversely affected, the legal or financial advisor can be sued and held accountable for the damage they caused.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This appears to be a new organization dedicated to promoting
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“Genworth Says It’s Seeking Buyers for Canadian Unit,” by Allison Bell, ThinkAdvisor “Genworth Financial Inc. says it’s actively trying to sell its Genworth MI Canada mortgage insurance unit, and that it intends to complete efforts to be acquired by China Oceanwide Holdings Group Co. Ltd. by Nov. 30. Genworth and Oceanwide remain committed to the merger agreement and continue to work towards closing as soon as possible,’ Genworth said, in comments made in connection with the release of second-quarter earnings.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Finally, light at the end of the
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“Does Long-Term Care Insurance Cover Assisted Living?,” by David Levine, U.S. News & World Report “About 1 in 6 assisted living residents relies on Medicaid to cover their costs, many of whom must spend down their personal assets first to qualify for Medicaid coverage, she adds. That’s where long-term care insurance comes in. Most LTC insurance policies cover expenses at an accredited assisted living facility. ‘Everything is policy-dependent, but most assisted living facilities are private pay and can be reimbursed by LTC,’ Dennis says.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): More and more assisted living
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“Average LTC policy claim amounts for assisted living top other settings,” by Lois A. Bowers, McKnight’s Senior Living “Average individual long-term care insurance claim amounts for care in assisted living facilities are much higher than claim amounts for home care or care in nursing facilities, according to the 2019 Milliman Long Term Care Insurance Survey. Individual claims for all assisted living participants averaged $93,635, compared with $43,467 for home care and $63,751 for nursing facilities, according to the latest data, reported in Broker World. Individual claims for care in assisted living facilities are “consistently high,” the authors said. They offered four
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“LTC leads hot healthcare market in first half of 2019,” by Kimberly Marselas, McKnight’s LTC News “The changing face of long-term care continues to drive merger and acquisition activity for the fifth straight year, according to two new reports. ​Deal volume involving long-term care and assisted living properties jumped 7.3% in the second quarter of 2019 versus the same period last year, according to PricewaterhouseCoopers’ U.S. Health Services Deals Insights. … Its analysts said the sustained growth was influenced by numerous factors, including capital availability; interest rates; regulation, policy and tax reform impact; inpatient volumes pressure and high costs; cross-industry
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