“Retirement confidence resilient despite pandemic,” by Mary Beth Franklin, Investment News Quote:  “Despite a global pandemic, the majority of workers and retirees are more optimistic about their ability to live comfortably throughout retirement than before the Covid-19 outbreak began, according to the 2021 Retirement Confidence Survey released Thursday. … Despite the challenges of 2020, 8 in 10 retirees report that their overall lifestyle is as expected or better than expected. The results are virtually identical to those measured in January 2020 before the pandemic began.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: If it’s always darkest before dawn,
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“In-Home Care Providers Must Break Through Barriers to Handle More Long-Term Care Volume,” by Robert Holly, Home Health Care News Quote:  “There are several trends shaping senior care in the United States, with two of the biggest being continued Medicare Advantage (MA) growth and the steady shift of health care into the home. Yet if in-home care operators want to capitalize on those trends, they’ll have to break through traditional payment and operational barriers. That’s particularly true for home-based care entities looking to roll out new care models for patients who would have otherwise gone to skilled nursing facilities (SNFs).”
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“Non-covered losses and steep rate increases: New report issues bleak outlook for provider insurance,” by Kimberly Marselas, McKnight’s LTC News Quote:  “The best positioned long-term and senior care providers can expect to see liability insurance rates climb by as much as 30% this year, while those with previous losses and poor venues will face even stiffer hikes, according to a marketplace update from Willis Towers Watson. The international brokerage firm’s spring survey of insurers found rates and plan structures continue to be impacted by both the pandemic and an exodus by many insurers away from the long-term care marketplace.” LTC
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“‘Moving fast and changing every minute’: COVID-19 brings increased policy attention to long-term care,” by Kimberly Bonvissuto, McKnight’s Senior Living Quote:  “The coronavirus pandemic has challenged the aging services industry to imagine the unimaginable, including increased attention from policymakers, according to Ruth Katz, LeadingAge senior vice president of public policy and advocacy. … Part of those discussions are on the HCBS Access Act, which seeks to mandate HCBS in Medicaid to create national minimum standards for HCBS, and the WISH Act, which creates a public-private partnership for long-term care financing that considers middle-income older adults.” LTC Comment, Stephen A. Moses,
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“How to Get Long-Term Care in Place for Aging Family Members,” by Katherine Snow Smith, AOL Quote:  “So your parents have smartly paid long-term care insurance premiums of a few hundred dollars a month for 15 years. Now they need help in their house and are ready to file a claim and reap the financial payback of their prudent planning. … But whether planning for yourself or your parents, there is a lot to learn about getting help in place and filing a claim to get reimbursement checks arriving in the mailbox. Here are some tips, warnings and suggestions for
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“UPDATE: Not Aware of the Washington State Long-Term Care Program? – Employers Take Notice and Act Quickly,” Davis Wright Tremaine Quote:  “Employees now have until November 1, 2021, to purchase long-term care insurance if they wish to opt out of the Washington State Long-Term Care Program. On April 14, 2021, the House passed an amendment to the original Bill (SHB 1323), extending the deadline from July 24, 2021, to November 1, 2021. (Reflected in original post, below.)” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Let the “fire sale” begin. Save as many people as you can from
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“Ransomware ‘bull’s eye’ grows, clouding telehealth’s rise in long-term care,” by Kimberly Marselas, McKnight’s LTC News Quote:  “Even as COVID-19 and its emphasis on telehealth have opened providers to greater cybersecurity risks, insurance policies that offer potential protection are becoming more expensive, and in some cases, harder to get. Insurers are issuing 25% to 50% premium increases this year, reflecting a large number of ransomware payouts over the last year and a half, according to David Basham, an Atlanta-based broker for Willis Towers Watson.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Just what LTC providers needed,
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“Diminished capacity creates new investment risk,” by Mary Beth Franklin, InvestmentNews Quote:  “A new white paper released Tuesday at the annual meeting of the American Society for Aging details how financial advice companies can better support at-risk aging clients. The paper summarizes current demographic realities, the nature of the risks to financial services firms, the regulatory environment and the opportunities for firms seeking to better protect their clients and themselves. It was written by Chris Heye, founder of Whealthcare Solutions Inc., Liz Loewy, co-founder of EverSafe, and Katherine L. Wade. … ‘We recommend that firms view diminished capacity the same
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“COVID-19 Fogs Long-Term Care Claim Forecasts: ILTCI Virtual Conference,” by Allison Bell, ThinkAdvisor Quote:  “Actuaries for long-term care insurance (LTCI) issuers know that everyone is looking to them for answers about how COVID-19 has affected, and will affect, LTCI claims. But two actuaries who spoke Tuesday at the ILTCI Conference said getting good pandemic-period experience data will take time. … This year’s online version of the conference attracted 1,500 attendees, according to Barry Fisher, the conference chair. … Conference organizations said they hope to present the 2022 ILTCI Conference as an in-person event in Raleigh, North Carolina.” LTC Comment, Stephen
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