“Medicare Advantage plans ‘robust’ at the expense of traditional Medicare plans: report,” by Kimberly Bonvissuto, McKnight’s Senior Living      Quote: “Reducing payments to Medicare Advantage plans would ensure the sustainability of the Medicare program while maintaining access to popular plans that place a premium on quality care and preventive services, according to a new report. The Medicare Payment Advisory Commission, in its annual report to Congress on Tuesday, reviewed the status of Medicare Advantage, saying that many indicators point to an ‘increasingly robust’ program. … Taxpayers and Medicare beneficiaries don’t realize any savings from plan efficiencies. Instead, MedPAC estimates that
Read More

  “Will the ‘Long-Term Care Tax’ be Coming to Your State Soon?,” by Matt Meyer, Nasdaq     Quote: “Although you may dislike the idea of additional taxes, this trend will help drive a much-needed conversation about the costs and responsibility for long-term care. The opportunity this provides is for working people and their financial or insurance advisors to plan and be proactive before legislation is passed. While we can’t be certain the exact same taxes and opt-out options will be included in bills passed in other states, if you or your clients have ever considered or had a desire
Read More

  “California Is Ending Its Asset Test For Medicaid Long-Term Care. Is It A Mistake?,” by Howard Gleckman, Forbes      Quote: “Soon, California residents with personal care needs will be eligible for Medicaid long-term care no matter how much money and other assets they have. On July 1, the state will increase the program’s asset limit from $2,000 for an individual to $130,000 and from $3,000 for a couple to $195,000. The state plans to end the limit entirely as soon as 2024. At first glance, it seems like a big win for frail older adults in California. But
Read More

  “2023 Social Security COLA Estimated at 7.6% as CPI Keeps Rising,” by Ginger Szala, ThinkAdvisor     Quote: “The CPI increase of 7.9% in February doesn’t include commodity price jumps due to Russia’s invasion of Ukraine. Higher food prices have been a key reason seniors are struggling, The Senior Citizens League says. Indications are prices will continue to rise, despite what the Federal Reserve does.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: The monetary walls are closing on Social Security’s beleaguered trust fund. A perfect fiscal storm is coming for anyone dependent on any
Read More

  “U.S. Household Net Worth Jumps to a Record on Equities, Housing,” by Reade Pickert, ThinkAdvisor     Quote: “US. household net worth jumped to a fresh record in the fourth quarter on rising stock prices and higher home values. Household net worth increased by $5.3 trillion, or 3.7%, after a more moderate gain in the third quarter, a Federal Reserve report showed Thursday. The fourth-quarter advance pushed net worth to more than $150 trillion. The value of real estate held by households rose by $1.5 trillion and the value of equity holdings climbed $2.5 trillion.”   LTC Comment, Stephen
Read More

  “The silver tsunami factor: Creating a disaster recovery plan for the impending healthcare devastation ”  by Cynthia Morton and Therasa Bell, McKnight’s LTC News    Quote: “The year 2030 marks the proverbial ‘run-up’ of the silver tsunami, with an important demographic turning point in U.S. history, according to the U.S. Census Bureau. In less than seven years, baby boomers will be older than age 65. In less than a decade, ALL baby boomers will be older than age 65 and for the first time in U.S. history, seniors will outnumber children. An aging population means our overburdened healthcare sector will
Read More

  “No Viable Path for Many SNFs to Improve, Avoid Penalties in Value-Based Purchasing,” by Amy Stulick, Skilled Nursing News   Quote: “The value-based purchasing program (VBP) may not be offering sufficient incentives for nursing homes to improve, particularly for low-performing facilities in areas with underserved populations. Only 0.7% of poor-performing skilled nursing facilities were able to improve enough to avoid a financial penalty under VBP, a JAMA study found – the program didn’t “offer a viable path” for such facilities to avoid penalties using readmission rate data, JAMA researchers said.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care
Read More

  “Spending on Medicaid HCBS totals nearly $116B in FY 2020, report finds,” by Liza Berger, McKnight’s Home Care Quote: “Spending on Medicaid home- and community-based services (HCBS) totaled $115.8 billion in fiscal year 2020, according to a new report released Friday from the Kaiser Family Foundation. Waivers make up over two-thirds of total HCBS spending, while spending under a state plan authority is under one-third of total HCBS spending, the report said. States continue to rebalance long-term services and supports spending toward home- and community-based LTSS, the report indicated. In fiscal year 2019, HCB LTSS made up 59% of total
Read More

“Reform policies ‘double down’ on decades-long failures, LTC physicians warn,” by Danielle Brown, McKnight’s LTC News   Quote: “The Biden administration’s approach toward nursing home reform uses the unsuccessful and ‘punitive’ tactics that haven’t proved to advance quality for years, according to a top industry group.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Unfunded quality demands are the administration’s modus operandi.               Subscribe to GoldenCare News  
Read More

“CMS Releases Updated Guidance on Medicaid Eligibility and Redeterminations,” AAMC   Quote: “On March 3, the Centers for Medicare & Medicaid Services released updated guidance regarding redeterminations of Medicaid beneficiary eligibility for when the public health emergency (PHE) ends. The PHE is currently set to expire on April 15, though it is expected that the administration will extend the expiration for at least an additional 90 days. …The updated guidance will allow states to initiate, rather than complete, redeterminations during the 12-month unwinding period to reestablish a regular schedule of renewals. Additionally, states will be provided an extra two months before they
Read More