“Most Americans want health insurance companies and Medicare to pay for long-term care: poll,” by Amy Novotney,McKnight’s Senior Living Quote: “Compared with 2018, fewer Americans now think individuals and families should be responsible for paying for their aging loved ones’ care. Instead, more believe that health insurance companies and Medicare should take responsibility for the costs. That’s according to a new study from The Associated Press-NORC Center for Public Affairs Research. The study, which included interviews with almost 1,900 adults conducted between Aug. 27 and Sept. 14, found that 59% of respondents (compared with 50% in 2018) now think health insurance companies
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“Report shows huge jumps in Medicare Advantage enrollment among minorities, dually eligible,” by Joe Jancsurak, McKnight’s Senior Living Quote: “Minority enrollment in Medicare Advantage plans increased by 111% in 2019, with minority beneficiaries accounting for 31.5% of Medicare Advantage enrollees. Meanwhile, enrollment of dually eligible beneficiaries – those who qualify for both Medicare and Medicaid – jumped 125% from 2013 to 2019. Overall Medicare Advantage plan enrollment increased 60%, whereas traditional Medicare saw a 5% enrollment increase during the same timeframe, according to the report.”   LTC Comment:    Lower income people gravitate to MA because of the value proposition, but
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“Medicare Advantage Plans May Have More Search Buzz,” by Allison Bell,ThinkAdvisor Quote: “Google says the Medicare plan sales season that starts today could be pretty good. Medicare Advantage plan sales could be somewhat stronger than they were last year, and all of the fuss about the Medicare plan annual election period could also pull Medicare supplement (Medigap) insurance sales out of their COVID-19 pandemic funk. We used Google’s Google Trend tool to compare search activity for the terms ‘Medicare Advantage’ and ‘Medicare supplement.’”   LTC Comment:   Seems like one silver lining on the dark pandemic cloud ought to be more
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“Long-Term Care Insurance Benefits Cut Panel Drafts Principles,” by Allison Bell, ThinkAdvisor Quote: “The LTCI Reduced Benefit Options Subgroup is an arm of the Long-Term Care Insurance Task Force, which, in turn, is part of the Executive Committee at the National Association of Insurance Commissioners (NAIC). …The reduced benefit options principles draft includes an introduction that states 17 state insurance departments are involved with shaping the rules for LTCI reduced benefit options. The five main sections relate to: Fairness for the policyholders that choose the reduced benefit options. Fairness for the policyholders who choose rate increases. Clarity of communications with policyholders
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“SEC Adds to General Electric’s Long-Term Care Insurance Headaches,” by Allison Bell, ThinkAdvisor Quote:  “The U.S. Securities and Exchange Commission is officially taking an interest in the accounting for General Electric Co.’s long-term care insurance (LTCI) reinsurance operations. The SEC sent GE a Wells notice about the company’s insurance accounting practices Sept. 30, GE said Tuesday, in a current report notice filed with the SEC.” LTC Comment:   All’s not well that ends in a Wells notice.    
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“9 Surprising Secrets About Long-Term Care and Medicaid,” by Kathleen Coxwell, MoneyTalksNews Quote: “5. It is legal to manipulate your finances to qualify for Medicaid. … To accelerate Medicaid qualification, some retirees work with legal and financial specialists to gift money to family members, purchase annuities, put money into different kinds of trusts and do various other tricks to shield assets from being part of the Medicaid calculations. … 6. Medicaid planning is an industry. … There is a cadre of lawyers, consultants and advisers who help retirees manipulate their finances so that they can qualify for Medicaid and avoid
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“The Alzheimer’s Stamp Now Available to Purchase,” Argentum Quote: “The Alzheimer’s semipostal stamp has been reinstated and is now available for purchase at most post offices, online, and by phone at 1-800 STAMP-24. Before it was withdrawn in November 2019, over 8.2 million stamps were sold raising more than $1.06 million for NIH supported research. Using the Alzheimer’s stamp honors the memory of those lost and signals support for those still facing the challenges of this most difficult disease. Learn more.” LTC Comment:   Don’t forget to pick up some Alzheimer’s stamps.    
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“Walmart Jumps Into the Medicare Plan Distribution Market,” by Alison Bell, ThinkAdvisor Quote: “Walmart is putting its corporate muscle behind the idea of getting consumers excited about buying Medicare plans. The Bentonville, Arkansas-based retail giant announced today that its new Walmart Insurance Services LLC insurance agency division will be ready to sell Medicare plans in all 50 states and the District of Columbia starting Oct. 15, the first day of the Medicare plan annual election period.” LTC Comment:   What’s next, Amazon? Or is Bezos already there?    
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