“Long-Term Care Planning Firm Sees Life-LTC Hybrid Prices Rising,” by Allison Bell, ThinkAdvisor    Quote: “A long-term care (LTC) planning firm says it’s seeing signs that low interest rates are starting to affect prices for new life insurance policies that offer LTC benefits. Murray A. Gordon & Associates Long Term Care Planning (MAGA) of Bannockburn, Illinois, says one life-LTC hybrid issuer has warned it that prices on new life-LTC hybrids will go up about 8% to 10% in January.” LTC Comment: Well, maybe, but on the other hand, the Fed’s money-printing binge has caused equity portfolios and real estate
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“BREAKING: HHS awards nursing homes $523M in COVID-19 performance payments,” by Danielle Brown, McKnight’s LTC News     Quote: “Federal authorities announced Monday that it will be distributing $523 million in the second round of performance payments. More than 9,000 nursing homes that have successfully reduced COVID-19 related infections and deaths between September and October will receive the payments. … “This half a billion dollars in incentive payments will reward nursing homes that have shown results in their tireless work to keep their residents safe from the virus,” [HHS Secretary Alex Azar] added.” LTC Comment: Ironically, rewarding success in this way is tantamount
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“BREAKING: HHS awards nursing homes $523M in COVID-19 performance payments,” by Danielle Brown, McKnight’s LTC News     Quote: “Federal authorities announced Monday that it will be distributing $523 million in the second round of performance payments. More than 9,000 nursing homes that have successfully reduced COVID-19 related infections and deaths between September and October will receive the payments. … “This half a billion dollars in incentive payments will reward nursing homes that have shown results in their tireless work to keep their residents safe from the virus,” [HHS Secretary Alex Azar] added.” LTC Comment: Ironically, rewarding success in this way is tantamount
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  “Cost of Care: Trends & Insights,” Genworth   Quote: “Since 2004, families across America have counted on us to help them understand the cost of care. Our research in 435 cities and towns across all 50 states has not only helped individuals plan for their own care but helped policymakers with forecasting and legislative reform. Over the years, we’ve tracked various trends that have come and gone but one thing hasn’t changed: long term care costs for nursing homes, assisted living facilities, and in-home care are higher than most people have planned for and only continue to rise.” LTC
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“Genworth, China Oceanwide Push Deal Deadline Back,” by Allison Bell, ThinkAdvisor    Quote: “Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. today announced they have extended their merger negotiations agreement to Dec. 31. … China Oceanwide has been trying to acquire Genworth since October 2016. The companies said they now have received most of the regulatory approvals they need to consummate the $2.7 billion deal.” LTC Comment: Déjà vu all over again.  
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“Medicaid is hemorrhaging $100B on Americans ineligible for the program,” by Brian Blase, New York Post   Quote: “The federal government’s improper Medicaid payments now exceed $100 billion a year. This means that more than one-in-four dollars flowing out of Medicaid — our nation’s third-largest government program — do not meet program rules. This staggering failure doesn’t just reduce health-care access for the truly eligible, it also harms taxpayers who fund it.” LTC Comment: This is an excellent piece by my co-author of “Nursing Homes, Coronavirus and Medicaid,” published June 1, 2020, in the Wall Street Journal. The problem of
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“Nursing home residents could start receiving COVID vaccines in about 2 weeks,” by Danielle Brown, McKnight’s LTC News   Quote: “Nursing home residents could be just a little more than two weeks away from receiving the first doses of a COVID-19 vaccine, according to federal health officials.” LTC Comment: In other news, essential workers caring for nursing home residents will have even higher priority to receive the vaccine than their patients. Some are striking for better pay and conditions.  
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“89 percent of families with loved ones in long-term care facilities consider home care: survey,” by Joe Jancsurak, McKnight’s Senior Living   Quote: “Eighty-nine percent of families with loved ones living in nursing homes or assisted living communities who participated in a new survey said they have considered switching to in-home care due to the coronavirus pandemic. That’s just one finding from the Care.com COVID-19 Senior Care Survey of 1,000 U.S. adults with older loved ones receiving professional care.” LTC Comment: Hello, LTCI producers. Are you paying attention? The pandemic is doing what decades of Medicaid rebalancing couldn’t—waking up the public to the importance
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“How to Save Money on Assisted Living Costs,” by Heidi Godman, U.S. News & World Report   Quote: “Some people are able to knock down assisted living costs with contributions from Medicaid (if a facility accepts it), veterans benefits or long-term care insurance policies. And there other ways to save money on assisted living costs as well.” LTC Comment: Click through for ways to save money on assisted living. But the best way to save money remains to leverage against the risk and cost of LTC by means of private insurance. That’s the biggest bang for the buck if you end up needing
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“Higher Medicare Premiums For 2021 Announced, Topping Out At $504.90,” by Bob Carlson, Forbes   Quote: “Medicare premiums and other costs will increase in 2021, the Centers for Medicare and Medicaid Services (CMS) recently announced. But the CMS reported earlier that premiums for the private sector version, Medicare Advantage plans, will decline for 2021. … The IRMAA rises as adjusted gross income increases. The maximum IRMAA in 2021 will be $356.40, bringing the total monthly cost for Part B to $504.90 for those in that bracket.” LTC Comment: OMG, IRMAAgod!  
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