“GE’s Fix-It Plan for Insurance: Raise Rates, Boost Returns,” by Thomas Gryta and Leslie Scism, Wall Street Journal “General Electric Co. GE +3.24% sought to reassure investors that it has a handle on its troubled insurance business, saying it is pushing to raise premiums paid by tens of thousands of older Americans and shifting its investments to boost returns on its reserves. The company took the unusual step of hosting a presentation Thursday by GE’s top insurance executives to explain the business, a legacy of GE Capital’s once sprawling operations. While GE spun off or sold much of its insurance business a decade ago, it held
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“Why the number of Americans with Alzheimer’s could more than double by 2050,” by Laura Santhanam, PBS News Hour “Barring breakthroughs in treatment, the number of Americans living with Alzheimer’s disease is projected to more than double by 2050, rising to 13.8 million Americans age 65 or older from 5.8 million today. That’s according to a new report from the Alzheimer’s Association released Tuesday. Here’s a closer look at why medical experts are expecting a spike in Alzheimer’s, what we know about associated health costs and what’s next for research and treatment. … Fainting and falling are the most frequent
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“Americans Cite Healthcare Expenses as No. 1 Barrier to Early Retirement,” Advisor Magazine “When asked to name barriers to financial independence and early retirement, Americans are less concerned about uncertain market conditions (37 percent) or inflation (35 percent), than they are about healthcare costs (57 percent), according to a new survey conducted for TD Ameritrade, of 1,500 Americans aged 45 and older with $250,000 or more in investable assets. … Only 19 percent cite long-term care costs for a family member and unexpected costs to care for a family member as top worries about retiring early.” LTC Comment (from Stephen A.
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“CDC updates report on assisted living community characteristics,” by Lois A. Bowers, McKnight’s Senior Living “A new report from the Centers for Disease Control and Prevention’s National Center for Health Statistics sheds light on the characteristics of the 28,900 assisted living and similar residential care communities that were providing long-term care services as of 2016. The report, titled ‘Long-Term Care Providers and Services Users in the United States: 2015-2016’  (PDF), is ‘intended to inform policy makers, providers, researchers, consumer advocates, the media, foundations, and others to inform planning for long-term care services,’ according to the authors.” LTC Comment (from Stephen A.
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“Will $14.5 billion plug GE’s long-term care insurance hole? Some experts say ‘No’,” by Alwyn Scott, Reuters “General Electric Co is setting aside one of the largest amounts ever to cover potential losses on policies that provide long-term care in nursing facilities and patients’ homes. But insurance experts are concerned that may not be enough.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Thanks again, Buck Stinson.
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“Report finds few seniors are getting routine memory checkup,” AP “Few seniors get their thinking and memory abilities regularly tested during check-ups, according to a new report from the Alzheimer’s Association that raises questions about how best to find out if a problem is brewing. Medicare pays for an annual ‘wellness visit’ that is supposed to include what’s called a cognitive assessment — a brief check for some early warning signs of dementia, so people who need a more thorough exam can get one. But doctors aren’t required to conduct a specific test, and there’s little data on how often
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“Ages When Long-Term Care Insurance Claims Begin,” Advisor Magazine “Nearly half of all newly started long-term care insurance claims begin for policyholders age 86 or older according to a new study released by the American Association for Long-Term Care Insurance (AALTCI). … According to the Association’s analysis of new long-term care insurance claims that began during 2018, 25 percent of new claims were initiated by policyholders between ages 81 and 85, 27.2 percent were between ages 86 and 90, and 17.5 percent were age 981 or older. … Click here to see latest Long-Term Care Insurance Data – Facts – Costs – Statistics”
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“How To Plan The Legal And Financial Needs Of A Loved One With Dementia,” by Christopher Berry, Forbes “If you have a loved one who has been diagnosed with Alzheimer’s or dementia, there are certain things that your family needs to plan for both legally as well as financially. … There are six main ways to pay for long-term care, so it is up the family to best determine how to use the following options. … 6. Finally, Medicaid may help pay for the cost of a nursing home. However, there are certain requirements to qualify for Medicaid, including an
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“House passes measure to create long-term care program,” by Rachel La Corte, AP “A proposal for a new employee-funded program that would create a benefit to help offset long-term care costs was approved by the House Thursday. The measure passed on a bipartisan 63-33 vote and now heads to the Senate for consideration.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This plan will fail because it is based on a false premise we exploded in a report every Washingtonian should read before it’s too late:  What We Don’t Know About Medicaid and Long-Term Care is Hurting Washington
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“National Health Expenditure Projections, 2018–27: Economic And Demographic Trends Drive Spending And Enrollment Growth,” by Andrea M. Sisko, et al., Health Affairs (gated) “ABSTRACT: National health expenditures are projected to grow at an average annual rate of 5.5 percent for 2018–27 and represent 19.4 percent of gross domestic product in 2027. Following a ten-year period largely influenced by the Great Recession and major health reform, national health spending growth during 2018–27 is expected to be driven primarily by long-observed demographic and economic factors fundamental to the health sector. Prices for health care goods and services are projected to grow 2.5 percent per year,
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