“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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  “‘We can no longer ignore this’: Affordable long-term care is urgent priority, panelists say,” by Kimberly Bonvissuto, McKnight’s Senior Living      Quote: “Nora Super, senior director of the Milken Institute Center for the Future of Aging and executive director of the Milken Institute Alliance to Improve Dementia Care, said the group narrowed those solutions down to three big ideas: A large-scale Medicare Advantage demonstration project to test the effectiveness of technology and home-based interventions in reducing cost and improving care across the continuum. Scaling up and adapting integrated care models to provide flexible, low-cost, high-value services for targeted
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“Making Care Work Pay: How A Living Wage For LTSS Workers Benefits All,” by Christian Weller, Beth Almeida, Marc A. Cohen, Robyn I. Stone, Health Affairs   Quote: “LTSS staffing shortages stem largely from the fact that our nation undervalues the 3.5 million nursing assistants, personal care aides, and home health aides who go to work each day in residential care settings and private homes across the country. Despite their valuable work, one in eight direct care workers lives in poverty, and three-quarters earn less than the average living wage in their states.” LTC Comment, Stephen A. Moses, President, Center for Long-Term
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-t “Americans Worry More Now About Their Long-Term Care Plans and Prioritize Staying At Home,” by Nationwide Retirement Institute, Advisor Magazine   Quote: “The COVID-19 pandemic has impacted Americans mentally, physically, and financially, and as such, has caused many to reexamine the importance of prioritizing long-term care. The vast majority of Americans (87%) believe it’s more important than ever for people to stay at home for long-term care, as well as have a plan for long-term care (85%) and have long-term care insurance (81%) as COVID-19 has raised concerns about the safety of nursing homes.” Help your clients make smart decisions
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-t “HC2 Gets Offer for Long-Term Care Insurance Business,” by Allison Bell, ThinkAdvisor   Quote: “Michael Gorzynski — an investor who owns a 6.6% stake in HC2 Holdings Inc., has a seat on the HC2 board and who serves as the chairman of HC2′s Continental General Insurance Company unit — is trying to acquire the Continental insurance business from HC2. … Although Continental has blocks of life and annuity business as well as blocks of LTCI business, it’s best known for its LTCI business, because it has been one of the few companies making deals for blocks of LTCI business.”
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