“Medicaid Weighs Attaching Strings to Nursing Home Payments to Improve Patient Care”

  “Medicaid Weighs Attaching Strings to Nursing Home Payments to Improve Patient Care,” by Susan Jaffe, Kaiser Health News Quote: “The Biden administration is considering a requirement that the nation’s 15,500 nursing homes spend most of their payments from Medicaid on direct care for residents and limit the amount that is used for operations, maintenance, and capital improvements or diverted to profits. … If adopted, it would be the first time the federal government insists that nursing homes devote the majority of Medicaid dollars to caring for residents. The strategy, which has not yet been formally proposed, is among several steps officials
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Categories: Clippings and Industry News.

“OPM Expects to ‘Revise’ FLTCIP Premiums, Could Temporarily Bar New Enrollments”

“OPM Expects to ‘Revise’ FLTCIP Premiums, Could Temporarily Bar New Enrollments,” FedWeek    Quote: “OPM has said that it ‘has determined that there is a strong likelihood’ that Federal Long-Term Care Insurance Program premium rates will need to be ‘revised’ — which history suggests will mean ‘raised.’”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Setting premiums so future benefits can be paid is a moving target, except for government, which simply borrows, prints, taxes, inflates or defaults when entitlement trust funds run out.       Subscribe to GoldenCare News  
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Categories: Clippings and Industry News.

“A Two-Year Reprieve For Medicare Insolvency Sounds Like Good News. But It Isn’t”

“A Two-Year Reprieve For Medicare Insolvency Sounds Like Good News. But It Isn’t,” by Howard Gleckman, Forbes    Quote: “Congress could create a fully-funded public long-term care insurance program to help families pay the high costs of these supports and services. In a perfect world, Congress would do a top-to-bottom redesign of Medicare. That won’t happen, but lawmakers can’t continue to look the other way while one of the most important—and most popular—federal program gradually collapses.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Policy schizophrenia: a whole column about what’s wrong with Medicare from a guy
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Categories: Clippings and Industry News.

“Less than 25 percent of Americans expected to save enough to retire comfortably”

“Less than 25 percent of Americans expected to save enough to retire comfortably,” by Kathleen Steele Galvin, McKnight’s Senior Living    Quote: “Less than a fourth of Americans expect to save the $1.1 million estimated to be necessary to retire comfortably, according to the 2022 Schroders U.S. Retirement Survey. Fifty-six percent of those surveyed said they expect to have less than $500,000 saved by the time they retire, including 36% who anticipate having less than $250,000. The major concerns facing retirees and those nearing retirement are inflation that lessens the value of their assets (65%), higher-than-expected healthcare costs (64%) and a
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Categories: Clippings and Industry News.

“Inflation jumps 8.5% in a year for nursing goods and services, tripling the number of residents at risk of displacement”

“Inflation jumps 8.5% in a year for nursing goods and services, tripling the number of residents at risk of displacement,” by Danielle Brown, McKnight’s LTC News   Quote: “Rising inflation and increased labor costs are multiplying the risk of closure for skilled nursing facilities across the country, according to a new analysis released Wednesday by CliftonLarsenAllen and the American Health Care Association. … Economists expect even more increases through the end of the year, and possibly into 2023, which is more bad news for providers. Nursing homes rely almost entirely on fixed-rate government payments. ‘Increasing costs will put more nursing homes
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Categories: Clippings and Industry News.

“Long-Term Care Epiphany”

“Long-Term Care Epiphany,” by Stephen A. Moses, Broker World   Quote: “Maybe long term care is not the overwhelming challenge it has always been considered to be. Maybe all we have to do is reconceptualize the issue, remove the perverse incentives that discourage long term care planning, and enforce long term care responsibility on the front end instead of rewarding irresponsibility on the back end as now.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Read my new prescription for long-term care reform and let me know what you think at smoses@centerltc.com.      
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Categories: Clippings and Industry News.

“BREAKING NEWS: CMS updates Medicaid eligibility standards”

“BREAKING NEWS: CMS updates Medicaid eligibility standards,” by Lois A. Bowers, McKnight’s Senior Living   Quote: “The Centers for Medicare & Medicaid Services announced updated standards for Medicaid eligibility for long-term services and supports on Thursday afternoon. According to the Social Security Act, the community spouse’s minimum monthly maintenance needs allowance and the community spouse monthly housing allowance amounts must be adjusted annually to be effective July 1. Effective July 1, the minimum monthly maintenance needs allowance will be $2,288.75 in all states except Alaska and Hawaii. In Alaska, it will be $2,861.25, and in Hawaii, it will be $2,632.50. … For
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Categories: Clippings and Industry News.

“Social Security Trust Funds Doing Better Than Last Year: Trustees Report”

“Social Security Trust Funds Doing Better Than Last Year: Trustees Report,” by Melanie Waddell, ThinkAdvisor    Quote: “In its 2022 Annual Report to Congress, the Trustees announced: The asset reserves of the combined OASI and DI Trust Funds declined by $56 billion in 2021 to a total of $2.852 trillion. The total annual cost of the program is projected to exceed total annual income in 2022 and remain higher throughout the 75-year projection period. Total cost began to be higher than total income in 2021. Social Security’s cost has exceeded its non-interest income since 2010. The year when the combined trust
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Categories: Clippings and Industry News.

“Is Slowed Walking a Sign Dementia Is Near?”

” Is Slowed Walking a Sign Dementia Is Near?,” HealthDay    Quote: “If you’re a senior and walking to the mailbox takes longer than it used to, new research suggests you might want to ask your doctor to check your thinking skills. The study included nearly 17,000 adults over 65 and found those who walk about 5% slower or more each year and also had memory declines were the most likely to develop dementia.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Hustle!         Subscribe to GoldenCare News  
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“How To Self-Insure For Long-Term Care Health Expenses (2022)”

  “How To Self-Insure For Long-Term Care Health Expenses (2022),” by David John Marotta, Forbes   Quote: “Each of us must make the decision either to self-insure for our long-term care or get long-term care insurance. Periodically, insurance salespeople have set up billboards suggesting that if your financial advisor does not recommend long-term care insurance you should sue them. However, we are not fans of long-term care insurance. … With 90% of people requiring 3 or less years of nursing home care, budgeting as though you will need three years of nursing home care should help ensure that you will
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Categories: Clippings and Industry News.