“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
Read More

“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
Read More

“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  
Read More

“Analyzing Long Term Care Insurance Prices,”Advisor Magazine Quote: “The cost for certain long-term care insurance policy designs has not changed significantly over the past five years according to the American Association for Long-Term Care Insurance. Long-Term Care Insurance Prices Compared, Costs 2016-2021 ‘For men, rates actually may have declined slightly from where they were five years ago,’ explains Jesse Slome, director of the long-term care insurance organization. ‘Policy costs for women are about the same until you add an inflation growth option, then there is a significant increase.’”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Read More

“Medicare and Dental Coverage: A Closer Look,” by Meredith Freed, Nancy Ochieng, Nolan Sroczynski, Anthony Damico, and Krutika Amin, Kaiser Family Foundation Quote: “Policymakers are now discussing options to make dental care more affordable by broadening dental coverage for people on Medicare. President Biden’s FY 2022 budget request includes as part of the President’s healthcare agenda “improving access to dental, hearing, and vision coverage in Medicare.” Senate Democrats recently announced an agreement to include Medicare expansions, including dental, vision, and hearing, as part of the budget reconciliation package, though details of the agreement have not yet been released. In 2019, the House of Representatives
Read More

“Toomey Re-Introduces Measure to Make Long-Term Care Insurance More Affordable,” by Pat Toomey Quote: “U.S. Senator Pat Toomey (R-Pa.) is re-introducing a bill to increase the affordability of long-term care insurance. Senator Toomey’s Long-Term Care Affordability Act would allow individuals to pay up to $2,500 each year for long-term care insurance with their 401(k), 403(b), and IRAs without a tax penalty.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Altogether too sensible a proposal to pass Congress, much less be signed by the current President.           Subscribe to GoldenCare News  
Read More

“How much of a cut to social security benefits can you expect based on your age?,” by Robert Powell, USA Today Quote: “Come 2034, incoming revenues will be enough to pay about 76% of scheduled Social Security benefits, a 2020 Social Security Administration trustees report predicts. Given that, how might different generations plan for this? Should they plan for a 24% decline in their scheduled benefit? Should they not factor Social Security benefits into their retirement income plan at all? Or might they do something else.”     LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Never mind
Read More

“Thousands of CalPERS members could get $30,000 or more in long-term care lawsuit settlement,” by Wes Venteicher, Sacramento Bee Quote: “CalPERS has agreed to pay up to $2.7 billion to settle a lawsuit over big price hikes the retirement system imposed on long-term care policyholders eight years ago, according to a Tuesday announcement. The proposed agreement, which requires a judge’s approval, would settle a class-action lawsuit policyholders filed in 2013. Several policyholders filed the lawsuit after receiving notices that their premiums would rise 85% in two increases in 2015 and 2016.”     LTC Comment, Stephen A. Moses, President, Center for
Read More