“Promoting the sixth insurance program,” by Wang Qiao, ChinaDaily Quote: “China already has five social insurance programs: elderly care, healthcare, unemployment, work injury and maternity. The government runs the programs, with the individuals and employers paying premiums on a compulsory basis. Four years into the trial run, the long-term care insurance is likely to become the sixth program.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Interesting how most U.S. analysts want to handle long-term care in the same way as the Chinese Communist Party—with compulsory social insurance enforced by government. For more on LTC in China,
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  “Nearly half of Alzheimer’s cases are mild, supporting a focus on early intervention,” by Alicia Lasek, McKnight’s LTC News Quote: “Nearly half of the people with Alzheimer’s disease have a mild case of the disease at any given time, according to a new analysis of a global study. The findings highlight the need for early intervention and prevention, researchers say. … The takeaway? ‘The finding that half of the people living with Alzheimer’s dementia have mild disease underscores the need for research and interventions to slow decline or prevent progression of this burdensome disease,’ the researchers wrote.” LTC Comment,
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  “Poor Performance of Long-Term Care Product Persists,” by AM Best, Advisor Magazine Quote: “Loss ratios in the beleaguered U.S. long-term care (LTC) insurance market continue to climb for individual and group business, according to a new AM Best report. The Best’s Market Segment Report, ‘U.S. Long-Term Care Product Performance Pressures Continue,’ states that poor performance from inadequate pricing is a significant issue for LTC insurers, owing to low interest rates, lapse rates, improving mortality, rising morbidity and policyholder utilization assumptions.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: More woe for now as LTCI adjusts for
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  “IRS Reversal: Expenses Paid With PPP Loan Funds Are Now Tax-Deductible,” by Melanie Waddell, ThinkAdvisor Quote: “The Internal Revenue Service and Treasury Department issued new guidance Wednesday ending the prohibition on ‘double dipping’ when it comes to expenses paid with funds from Paycheck Protection Program loans. The new guidance allows ‘tax deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan under the Paycheck Protection Program.’ Previous guidance said that business expenses like rent, mortgage, utilities and salaries — deductible under normal circumstances — could not be
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  “Trump Officials Approve Tennessee’s Controversial Request To Revamp Medicaid Funding,” by Phil Galewitz, NPR Quote: “Instead of the open-ended federal contribution to the funding of Medicaid in all other states — which increases with higher enrollment and associated health costs — Tennessee will instead get a capped amount of money, via an annual block grant. The annual funding cap will increase if enrollment grows. What’s different is that, unlike with other states, Medicaid funding to Tennessee won’t automatically keep up with rising expenses.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Once the new Administration
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  “New Analysis Finds Significant Financial Benefits Locked in Long-Term Care Insurance Policies Sold Fifteen to Twenty-Five Years Ago,” by ATI Advisory, Cision PR Newswire Quote: “ATI Advisory, a research and advisory services firm working to transform the delivery of healthcare and aging services for older adults, and LeadingAge LTSS Center @UMass Boston released new analysis that shows significant benefit value contained in private long-term care insurance policies in force today. … ‘We estimate that among individuals who bought policies between 1995 and 2005, nearly $800B in benefit value is available to pay for LTSS expenses. To put this in context, in 2016,
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  “Genworth to Shift to China Oceanwide Deal Backup Plan,” by Allison Bell, ThinkAdvisor  Quote: “Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. today said they will shift to using a merger agreement without an end date. Genworth said it will begin executing a plan that serves as an alternative to the company being acquired by China Oceanwide. China Oceanwide has been trying to acquire Genworth since October 2016, in a deal with an estimated value of about $2.7 billion.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Better open-ended than never.  
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  “The COVID-19 Pandemic Has Upended The LTCi Market,” by Ayo Mseka, InsuranceNewsNet Quote: “NAIFA’s 2020 Impact Week: Long-Term Care Conference was a treasure trove of information for financial professionals looking to enhance their knowledge of the limited and extended care planning and long-term care insurance markets. The online event was presented by NAIFA’s LECP Center, which gives agents and advisors the opportunity to network with service providers and gain information they can use to address the changing needs of the market.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Click through for a brief summary
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  “What’s Most Hurting the Financial Security of Older Americans?,” by Ginger Szala, ThinkAdvisor     Quote: “Adults age 70 and older have increased their debt since the Great Recession — largely due to mortgage payments — and this hampers their ability to overcome ‘negative events’ as they age, according to a recent study by the Center for Retirement Research of Boston College. … The study also reveals that heavier debt burdens are likely to result in ‘more hardship’ for today’s older retirees. However, those ‘less well off’ retirees are increasingly vulnerable to both personal financial and economic shocks. … The authors state that
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  “Improper Medicaid Payments Have Soared since Obamacare,” by Brian Blase and Hayden Dublois, National Review   Quote: “The true Medicaid improper-payment rate now exceeds 25 percent, meaning that more than one in every four dollars spent in the Medicaid program — or more than $100 billion in federal spending each year — is in violation of program rules. It turns out that millions of Medicaid enrollees are ineligible for the program — in most cases because they earn too much income, but in others because they are not lawful residents. The media, to date, have virtually ignored the issue; but taxpayers
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