“Bill to Boost RMD Age to 75 Up for First Vote Wednesday,” by Melanie Waddell, ThinkAdvisor Quote:  “The House Ways and Means Committee will vote Wednesday on the Securing a Strong Retirement Act of 2021, known as the Secure Act 2.0, which would boost the required minimum distribution age from 72 to 75.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Here’s an important aspect of the RMD age you might not know. Medicaid LTC exempts tax-deferred retirement accounts, often hundreds of thousands of dollars, if they are paying out periodically, as they must do upon the owner’s
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“First they came for skilled care …,” by John O’Connor, McKnight’s Senior Living Quote:  “Did you hear that Humana will pay $5.7 billion to wrest control of Kindred at Home? Of course you didn’t. That’s a home care issue, not senior living. It’s hardly the kind of news that might affect your organization, right? Maybe not. But then again, maybe it’s exactly the kind of development that’s worth keeping an eye on. For in case you didn’t notice, there seems to be a trend — some in the field might say disturbing trend — taking form. In a nutshell: Humana
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“As Medicare Advantage drives rate lower, fed-up CEOs embrace strategies that limit carriers’ influence,” by Kimberly Marselas, McKnight’s LTC News Quote:  “Medicare Advantage’s aggressive market penetration represents a major threat to skilled nursing providers, some of whom now find themselves clearing less per resident day through MA plans than they do in state Medicaid programs. A panel of nursing home and senior living executives Friday called for more oversight in the face of the continuing shift. They spoke during the 2021 Legislative and Regulatory Conference hosted by the National Association for the Support of Long Term Care.” LTC Comment, Stephen
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“The Benefits of Working Longer,” by Sandra Block, Kiplinger Quote:  “If you’re in your fifties or sixties and in good health, it’s difficult to predict whether you’ll need long-term care, but earmarking some of your income from a job for long-term-care insurance or a fund designated for long-term care will give you peace of mind, Baxley says. And working longer could not only help cover the cost of long-term care but also reduce the risk that you’ll need it in the first place. A long-term study of civil servants in the United Kingdom found that verbal memory, which declines naturally with
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“A Majority Of U.S. Consumers Lack Confidence In Stock Investments,” Advisor Magazine Quote:  “A majority of U.S. consumers —regardless of income level—say they are worried that they will not have enough money in retirement to maintain their desired lifestyle. Moreover, despite this widespread concern, some 59% say they have real trepidation about investing their money in the stock market, according to new research published by Realized, a technology-enabled platform that provides investment property wealth management. … A majority (62%) of respondents say they prefer to invest in tangible assets, such as investment properties, rather than traditional investments like the stock
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“Legislature delivers Washingtonians wins, losses and important health-care legislation to unwrap,” by Elizabeth Hovde, The Washington Policy Center Quote:  “The Legislature adjourned Sunday after an active session for health care. The most important takeaway today is that a new payroll tax arrives in January and will take 58 cents of every $100 a worker makes to fund a state-run, socialist-style, long-term care program lawmakers passed in 2019. Rules are still in the works, and definitions and directions are not clearly laid out, causing some confusion, but what is clear is that a bill passed this legislative session further limiting the time Washingtonians have
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“Why Would A 50-Year-Old Want To Join Medicare?,” by John C. Goodman, Forbes Quote:  “Medicare is lousy insurance. Anyone who leaves an employer plan to join Medicare will immediately become aware of some stark differences. To begin with, Medicare doesn’t have any cap on catastrophic costs for the patient – something all private insurance is required to have. If a Medicare enrollee stays in a hospital long enough, eventually she will have to pay 100 percent of the bill, no matter how high the costs soar.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Read this column by
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“The LTSS Trust has a new name. Meet the WA Cares Fund!,” Aging and Long-Term Support Administration Quote:  “The Long-Term Services and Supports Trust program now has an official name – the WA Cares Fund! The WA Cares Fund will be administered jointly by the Department of Social and Health Services, the Employment Security Department, the Health Care Authority, and the Office of the State Actuary. The WA Cares Fund is a public long-term care insurance program that functions like Social Security – all workers contribute to the Fund and all who meet the program’s vesting requirements and need long-term
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