“The Coming Crisis For The Medicare Trust Fund,” by David Muhlestein, Health Affairs   Quote: “The Congressional Budget Office (CBO) now projects that the trust fund will be exhausted in 2024, a little more than three years from now, which is the nearest the fund has come to exhaustion in the 55 years of its existence. … If the trust fund is exhausted, no law dictates what will happen, but the Social Security Act (which governs Medicare) does not authorize the government to use general revenues to fund the deficit, so Medicare will only be able to make payments based on money it
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  “Medicare Advantage Beneficiaries Log Almost 30% Fewer SNF Days Than Traditional Medicare,” by Maggie Flynn, Skilled Nursing News     Quote: “A new report comparing health outcomes for beneficiaries of Medicare Advantage (MA) and those on traditional fee-for-service Medicare put hard numbers to the differences in skilled nursing facility stays between the two groups. The findings show that MA beneficiaries spend far fewer days in SNFs than those covered by traditional Medicare. Specifically, SNF stays were 29% lower per 1,000 MA members, compared with those enrolled in traditional fee-for-service Medicare. … BMA is an organization that supports MA with
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  “GE Puts SEC Long-Term Care Insurance Probe Behind It,” by Allison Bell, ThinkAdvisor      Quote: “General Electric Company is moving to resolve a U.S. Securities and Exchange Commission investigation over what the company did with bad news. GE has agreed to pay a $200 million penalty to the SEC and to give the agency regular reports, for one year, on efforts to improve accounting and disclosure controls, officials said. The investigation involved what GE said about earnings at its GE Power business, and how the company handled deteriorating forecasts about the future performance of its long-term care insurance (LTCI) reinsurance
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  “Measuring The New Costs Of Care: How the pandemic is exacerbating the already rising price-points of long-term-care,” Advisor Magazine   Quote: “In its 17th annual Cost Of Care survey, Genworth reveals rising costs in most areas of care. Access the full report here. … Despite the efforts of long term care providers to absorb many of the costs associated with COVID-19 as they put their own lives at risk to care for their clients, long term care costs increased substantially this year, particularly for assisted living facilities and in-home care, according to Genworth’s 17th annual Cost of Care Survey. … In
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  “More than 6 in 10 Americans now say they would rather die than live in nursing home: survey,” by Amy Novotney, McKnight’s Senior Living     Quote: “In a blow to the skilled nursing industry, 61% of Americans now report that they would rather die than live in a nursing home. That’s according to a Nationwide Retirement Institute survey of almost 1,300 U.S. adults aged 24 or more years conducted by the Harris Poll. … ‘Our survey found that Americans prefer to stay in their home for long-term care (71%), and most would like to have the option of relying
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  “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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