“WA Cares Fund projected to be solvent through 2098 in new analysis,” by King 5 Staff, King5 News Quote: “Washington state’s long-term care program – known as the WA Cares Fund – is projected to be solvent through June 2098, according to a new study published by the Office of the State Actuary. … Click here to read the full report.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Milliman is the actuarial gold standard and it produced this report. But didn’t other actuaries give us similar assurances in 1935 (Social Security) and 1965 (Medicare)? Now look at their
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“Millions at risk of losing health insurance if U.S. ends Covid public health emergency in January,” by Spencer Kimball, CNBC Quote: “When the public health emergency does end, HHS estimates up to 15 million people will be dis-enrolled from Medicaid and the Children’s Health Insurance Program. HHS will give the public 60 days’ notice before lifting the public health emergency, Health Secretary Xavier Becerra said. The end of the public health emergency will also result in reduced food benefits for the poor and could impact vaccine access at pharmacies among many other consequences.”   LTC Comment, Stephen A. Moses, President,
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“Don’t Miss LTC Impact Day This Monday!” by NAIFA’s  Limited & Extended Care Planning Center Quote: “Long-Term Care Awareness Month starts in November, and NAIFA’s Limited & Extended Care Planning Center is kicking it off one day early with ‘Don’t Be Scared of Long-Term Care’ this Monday, October 31 from 9 am to 5 pm. Join industry experts at the top of each hour to hear the latest insights on long-term care! Each session will last 30 minutes, with 15 minutes left for questions and answers so you can get the information that’s most beneficial to you. Registration is free and you are
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“GE to End $2.5B Long-Term Care Insurance Reinsurance Arrangement,” by Allison Bell, ThinkAdvisor Quote: “GE put much of its life, annuity and long-term care insurance business in the hands of a separate company, Genworth Financial, in 2004, but kept Employers Re. The end of the reinsurance arrangement means that the company will face less worry about whether it can collect on reinsurance claims. GE will also have $2.5 billion in extra cash to reinvest.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: So, what does this mean for Genworth, if anything?       Subscribe to
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“Home health spending outpacing rate of national healthcare spending,” by Diane Eastabrook, McKnight’s Home Care Quote: “Spending on home healthcare rose by 10.5% in August, more than double the 4.9% increase in healthcare spending overall, according to a new report by research and consulting firm Altarum. Spending on skilled nursing care wasn’t far behind, expanding by 10.2%. … Demand for home health services have outpaced those for skilled nursing over the past two years. A report last spring found discharges to home health between the second quarter of 2020 and the third quarter of 2021 increased by 2.5% to 24.1% of total inpatient discharges,
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“Inside the Social Security COLA Calculations,” by Gene Bond and Lloyd Lofton, ThinkAdvisor Quote: “Social Security managers base the COLA on changes in the cost of one basket of goods and services. They could base the COLA on the cost of another standard shopping basket. What if you client has a completely different basket?”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Seems worthwhile to think about this topic a little. Inflation is on the rise. It affects different people in different ways but is really devastating to those on the financial edge. The flip side
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“Social Security COLA for 2023 Set at 8.7%,” by John Manganaro, ThinkAdvisor Quote: “With the final inflation data published for the third quarter, the Social Security Administration can set the final 2023 cost-of-living adjustment. A COLA adjustment of this magnitude is exceedingly rare, so retirees should enjoy it while they can, sources say. Even with a significant COLA for 2023, it will likely be hard for retirees to keep up with inflation.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Hold the champagne. The government pays this inflation-fighting cost of living increase with borrowed or printed
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“The US Needs To Help Seniors And Their Families Navigate Long-Term Care,” by Howard Gleckman, Gleckman Blog Quote: “Your mom has been hospitalized for two weeks following a stroke. One morning, she’s told she’ll be discharged by the end of the day. Mom calls you in a panic. You rush to the hospital and ask for advice. Instead, you get a much-copied list of local skilled nursing facilities and a wave good-by. This scene is played out thousands of times a day. It may happen with discharges from a hospital to skilled nursing facility or from a nursing facility to home.
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“Parkinson: Nursing home sector pinning hopes on ‘Medicaid adequacy’ rule,” by Jim Berklan, McKnight’s LTC News Quote: “After characterizing business conditions as ‘never worse, the skilled nursing sector’s top advocate said stakeholders need more help from both the federal and state governments to forge a viable path forward. The solution could lie in the Centers for Medicare & Medicaid Services universally demanding that states prop up Medicaid payments, said Mark Parkinson, the president and CEO of the American Health Care Association/National Center for Assisted Living, during a media briefing Tuesday at the group’s annual meeting. … Parkinson said CMS, as usual,
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“Providers demand tax credit to help New Yorkers fund home care,” by Diane Eastabrook, McKnight’s Home Care Quote: “A new pay increase for New York home care workers could make it even tougher for middle-income New Yorkers to afford care, according to the Home Care Association of America. That is why HCAOA is urging the New York Legislature to pass a tax credit to middle-income seniors who don’t qualify for Medicaid and Medicare services to help pay for home care services. …  A report last year found 74% of seniors and people with disabilities were unable to retain home care workers
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