“A Woman’s Guide to Long-Term Care,” by Michael Aloi, Kiplinger Quote: “Spending down an estate to qualify for Medicaid is one way to pay for long-term care, but it’s not ideal in my opinion. The risk the facility you want is not available for Medicaid recipients looms large. Also, to qualify for Medicaid may leave you financially destitute, not ideal after a lifetime of working. Finally, the rules for Medicaid can change. For some, Medicaid is the only option. For others, who have time on their side and the resources available, now is the time to start planning. … I
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“2021 Poverty Projections: Assessing the Impact of Benefits and Stimulus Measures,” by Laura Wheaton, Linda Giannarelli, and Ilham Dehry, Urban Institute Quote: “In an earlier brief, we estimated that the American Rescue Plan Act, enacted in March 2021, would reduce the 2021 annual poverty rate to 8.7 percent (Wheaton et al. 2021). We now project a 2021 poverty rate of 7.7 percent for 2021. … Using the Supplemental Poverty Measure, the annual poverty rate projection for 2021 of 7.7 percent is well below the rate of 13.9 percent that we estimate for 2018. … The federal stimulus checks have a
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“The InLTCgentsia,” by Stephen A. Moses, Broker World Quote: “What I’ve just described would solve the middle market problem. We don’t need to worry about the wealthy; they can take care of themselves. But, what about the poor? Having removed the perverse incentives that discourage responsible long term care planning, many fewer people will end up needing long term care but unable to pay. There will be no more incentive to hire attorneys to manipulate government eligibility rules in order to self-impoverish artificially. The relatively small numbers of genuinely needy people who remain could be served by private charity and/or a
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“SNF-at-Home Model Becoming ‘Critical Player’ For Success,” by Alex Zorn, Skilled Nursing News Quote: “Several factors continue to push patient care inside the home including health care waivers, patient preference, proposed legislation and an incentive to keep patients out of hospitals during the pandemic, as 32 states now offer hospital care at-home services as of July 27. While the clinical capabilities of in-home care remain limited, some operators are already looking to grow skilled nursing at-home programs alongside their acute care models. But with staffing shortages continuing to be an issue and no clear reimbursement path beyond 2021, some question
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“How a Medicaid Trust Protects Your Assets,” by Rebecca Lake, Yahoo! Finance Quote: “A Medicaid asset protection trust (MAPT) can be useful for estate planning if you believe you or your spouse will need long-term care at some point. Transferring assets to this type of trust can allow you to qualify for Medicaid to pay for long-term care while preserving your savings. If you don’t have a long-term care insurance policy in place, you may consider adding a Medicaid trust to your estate plan. Understanding how this type of trust works can help you decide if it’s right for you. Work with
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“Advising non Washington State Employers about the Collection & Remittance process for their Washington State Employees for Wash. Cares” Quote: Premium Elite Center for LTC Reform member Sally Leimbach of TriBridge Partners recently asked the WA Cares Fund “how Washington State expects basically every employer in the United States to be educated about the Washington Cares program in a timely fashion with the particulars to comply.” This is the reply she received: “Thank you for contacting WA Cares Fund. We are currently experiencing higher than normal email and call volume. Please know your message is very important to us, and
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“Long-Term Insurance, Short Term Confusion,” by Virginia Thomas, Spokane Business Journal Quote: “Some long-term care insurance providers here say Washington state has placed them in a confusing and financially risky position with the impending implementation of the Long-Term Services and Supports Trust Program, also known as the WA Cares Fund.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Click through for the details.           Subscribe to GoldenCare News  
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