“Older adults’ home equity exceeds $11.12 trillion in first quarter: report,” by Kathleen Steele Galvin, McKnight’s Senior Living Quote: “Homeowners aged 62 or more years increased their home equity by the first quarter of 2022 by 4.9%, to a record $11.12 trillion, from the fourth quarter of 2021, according to the latest quarterly release from the National Reverse Mortgage Lenders Association, published Tuesday. That’s a difference of $520 billion. … Some older adults are using reverse mortgages to finance their moves to senior living communities.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Expect senior home equity to
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“Accessing Long Term Care Through Medicaid,” Advisor Magazine Quote: “Even as the country’s primary payer of LTSS, Medicaid LTSS coverage has restrictive eligibility rules, is highly variable by state, and is unfamiliar to the general public. A large number of Americans will become acquainted with the system only when they or a loved one find themselves in need of LTSS. … Because of a lack of alternative and feasible ways to finance the cost of their long-term care needs, many middle-class seniors find themselves forced to spend down, i.e., reduce their net worth so they are eligible for Medicaid, or
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“CMS releases first-ever quality measures for home- and community-based services,” by Lois A. Bowers, McKnight’s Senior Living  Quote: “The Centers for Medicare & Medicaid Services on Thursday said it is releasing its first-ever home- and community-based services quality measure set in an effort to promote consistent quality measurement within and across state Medicaid HCBS programs. … Nationally, more than seven million people receive HCBS under Medicaid, and Medicaid-funded HCBS accounts for $125 billion annually in state and federal spending, the agency said. Forty-eight percent of all US assisted living communities are Medicaid-certified, according to the National Center for Assisted Living.
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    “The Perfect Storm: Nursing Home Industry Outlook is ‘Not Pretty’ Amid Rising Inflation, Labor Costs,” by Amy Stulick, Skilled Nursing News Quote: “Consulting firms in the skilled nursing space are getting a better snapshot of the labor market as data continues to pour in, and the outlook remains bleak – dwindling workforce numbers are running up against increased average cost of labor and overall inflation. … This is all while the Biden administration is attempting to implement a federal minimum staffing ratio and placing emphasis on adequate staffing through the five-star rating system and surveys.”   LTC Comment, Stephen A. Moses,
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    “Adults poorly planning for long-term care needs, surveys find,” by Liza Berger, McKnight’s Home Care  Quote: “It’s been known for some time that adults in the United States fail to prepare for their long-term care costs and needs. Two new industry surveys reinforce that.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: People don’t know how much LTC costs and haven’t planned ahead. Big whoop! We’ve known that for decades. All that matters is “why?” That’s what none of the experts or surveys ask, but we do … and answer too. Read Medicaid and
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  “Record Social Security bump could push seniors into higher tax bracket, experts say,” by Kathleen Steele Galvin, McKnight’s Senior Living   Quote: “Social Security recipients could see a record 10.5% cost of living adjustment next year, the bipartisan Senior Citizen League predicts, but that could bump some beneficiaries into higher tax brackets. Paying more in taxes could have the net effect of reducing retirees’ financial ability to move into a long-term care facility. … The downside to the interest rates hike for senior housing … is that fixed mortgage rates will increase, which could make it more difficult for
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  “COVID-19 public health emergency extended again,” by Lois A. Bowers, McKnight’s Senior Living Quote: “The federal public health emergency related to COVID-19 was renewed Friday “[a]s a result of the continued consequences” of the pandemic, the Department of Health and Human Services announced Friday. This is the tenth time that the PHE related to COVID-19 has been extended since it began Jan. 31, 2020.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Eternal emergency. This means the federal policy to encourage state Medicaid programs to retain everyone on Medicaid whether eligible or not, so-called “maintenance
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  “LTSS reform needed to ensure access to quality care, doctors’ group says,” by Kimberly Bonvissuto, McKnight’s Senior Living Quote: “Specifically, the ACP recommended a multi-pronged, public-private sector approach to reforming LTSS financing. That approach, the group said, would include a publicly funded, universal LTSS insurance program as well as policies to make private long-term care insurance more affordable and home- and community-based services more accessible. The organization also called for workforce investments, including better wages and benefits, as well as career advancement opportunities. Funding, assistance and staff support to develop emergency preparedness plans also were recommended. … Previous recommendations
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  “Could a hybrid model be the solution to serving millions more older adults?,” by Kimberly Bonvissuto, McKnight’s Senior Living Quote: “A model of facility-based care that is a hybrid between an assisted living community and a nursing home could be the answer for millions of older adults who are not eligible for Medicaid and must pay out-of-pocket for care and services, according to one long-term care expert.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: So says Howard Gleckman, persistent advocate for more government LTC funding and interference. Ironically, it is precisely government LTC funding
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  “LTSS reform needed to ensure access to quality care, doctors’ group says,” by Kimberly Bonvissuto, McKnight’s Senior Living Quote: “Specifically, the ACP recommended a multi-pronged, public-private sector approach to reforming LTSS financing. That approach, the group said, would include a publicly funded, universal LTSS insurance program as well as policies to make private long-term care insurance more affordable and home- and community-based services more accessible. The organization also called for workforce investments, including better wages and benefits, as well as career advancement opportunities. Funding, assistance and staff support to develop emergency preparedness plans also were recommended. … Previous recommendations
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