“Genworth’s CEO Aims for 2025 Long-Term Care Insurance Launch,” by Allison Bell, ThinkAdvisor “Earnings were up in the first quarter. The long-term care insurance business reported a small profit. An increase in mortality had mixed effects.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Patience, perseverance and persistence keep Genworth in LTCI. The same traits will achieve better public policy soon. Congratulations to Center-corporate-member Genworth on this important progress.   Subscribe to GoldenCare News  
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“Government shouldn’t micromanage nursing homes,” by Sally Pipes, Washington Examiner “The Biden administration published regulations last month requiring most nursing homes to maintain specific staffing levels. As a result, roughly three in four nursing homes will have to hire additional personnel. … But government diktats, however well-intentioned, won’t address the issues behind staffing shortages. Nursing homes have long had to contend with low reimbursement rates from Medicaid, which make it hard to attract and retain employees. Simply telling nursing homes to hire more staff won’t address that problem. … As Stephen A. Moses of the Paragon Health Institute has observed, Medicaid, the facilities’ chief payer, reimburses
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“Brain function of older adults catching up with younger generations, finds study,” MedicalXPress “According to research by Nottingham Trent University, the brain function of older generations is improving, with the gap between old and young healthy adults lessening. … The evidence points overall to improving and higher cognitive performance among older adults with eighty three of the measures used (68%) across the studies showing better performance in later cohorts of older adults than earlier cohorts, only six (5%) showed the reverse. In contrast, findings show that that young adults’ cognition remained relatively flat across time—closing the gap between generations.”  
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“The Coming Elder Care Crisis,” by Harry Margolis, Next Avenue “Since Medicaid is designed to be only for the poor, in order to obtain coverage, older adults must become poor by spending down their assets. And then they still may not get the care they want. Medicaid pays for only limited assisted living or home care, though coverage of both has been expanding in recent years. As a result, many people have to move to nursing homes just because Medicaid will pay for their care in such a setting.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term
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“US long-term care costs are sky-high, but Washington state’s new way to help pay for them could be nixed,” by Marc Cohen, The Conversation “I’ve spent the past few years as part of a team of four scholars examining the solutions that Washington and three other states have come up with to help the middle class pay for long-term care.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: I respect my friend and fellow ILTCI Recognition honoree Marc Cohen’s considered opinions about multi-state, compulsory, payroll-funded, social insurance LTC programs. But all these plans will fail for
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“Here’s Why Extended Care Planning Remains Critical for Women,” by Wendy McCullough, ThinkAdvisor “Working women ages 40 and up often juggle career and family obligations in a way that virtually no other demographic group does. Often at the peak of their earning power, many women in their 40s, 50s, and 60s are also primary caregivers for younger members of their families, and frequently for one or more parents or in-laws as well. Given these responsibilities, it’s no surprise that women often postpone thinking about their own future, particularly when it comes to potential extended care needs.”     LTC Comment,
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“Aging In Place: The New American Dream,” by Larry Nisenson, Advisor Magazine “Aging in place is the new American dream. The older generations have spoken, with more than three-quarters (77%) of adults 50 and older saying they want to stay in their homes as they age. However, successfully living at home requires careful consideration and forethought, particularly as it relates to financial preparedness. Consequently, this dream can become a nightmare for millions of Americans who are woefully ill-prepared when it comes to long-term care planning.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Larry Nisenson is the
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“The seven most important questions about Medicaid,” by Kate Silburn, My Prime Time News “I recommend to my clients that they start Medicaid planning when they’re still in good health and not in imminent need of long-term care. The five-year lookback period makes this particularly important. This can be as young as in their 60s. As part of the planning, I can put in place vehicles for asset protection such as trusts so that this money is exempt from counting toward your Medicaid limit. … You can apply for Medicaid independently. If you want more support with this complex application, an
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“Americans Reducing Retirement Savings And Taking On Debt Due To Inflation,” Advisor Magazine “Ongoing inflation has set back Americans’ ability to prepare for their financial future by causing them to reduce savings, take on debt and withdraw from retirement accounts, according to the 2024 Q1 Quarterly Market Perceptions Study* from Allianz Life Insurance Company of North America (Allianz Life). Americans are more focused on their present finances than setting themselves up for the future. About two in three (67%) say they are more concerned about paying bills than about their financial future. Millennials (76%) are more likely than Gen Xers (64%)
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“Rates for nursing homes, in-home care down: report,” by Kathleen Steele Gaivin, McKnights Senior Living “Movement of rates for long-term care is mixed, with assisted living and home health aide rates up but rates for in-home nursing visits and nursing homes declined year over year, according to a new report from long-term care insurer Illumifin. The insurance company’s 10th annual Cost of Care study and analysis, released Wednesday, includes national, state and regional long-term care cost data among various settings. A companion website, What Care Costs, includes interactive maps and projection tools to sort, rank and evaluate average costs of long-term care around
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