“Covid-19 Vaccination Costs to Strain State Medicaid Programs”

“Covid-19 Vaccination Costs to Strain State Medicaid Programs,” by Jacquie Lee and Christopher Brown,Bloomberg Law Quote: “The Families First Act prevents states from tightening eligibility rules or terminating members during the public health emergency. But policy makers looking to save money could still opt to reduce payments to health-care providers or cut optional Medicaid benefits.”     LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This policy, called “maintenance of effort,” is very counterproductive. To save money by cutting provider reimbursements, which are already too low, while maintaining huge eligibility loopholes for Medicaid long-term care eligibility
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Categories: Clippings and Industry News.

“Nearly 75% of older Americans with dementia given drugs that don’t help them despite serious risks: Study’”

“Nearly 75% of older Americans with dementia given drugs that don’t help them despite serious risks: Study,” by Mihika Basu, MEAAW News Quote: “Close to three-quarters of older adults with dementia have filled prescriptions for medicines that act on their brain and nervous system, but are not designed for dementia, according to researchers. This is despite the special risks that such drugs carry for older adults, and the lack of evidence that they actually ease the dementia-related behavior problems that often prompt a doctor’s prescription in patients with Alzheimer’s disease and related disorders, they argue. Some of the drugs have
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Categories: Clippings, Industry News, and Long-Term Care.

“Nursing Home Families Yearn to Visit Loved Ones Again’”

“Nursing Home Families Yearn to Visit Loved Ones Again,” by Paula Span, New York Times Quote: “Almost by definition, long-term care residents have limited life spans; nursing home residents are particularly fragile. Do they so value safety over quality of life that they want to spend their last months or years separated from their loved ones? Has anyone asked them?”     LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Pandemics and freedom do not mix well.        
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Categories: Clippings, Industry News, and Long-Term Care.

“When Covid-19 Hit, Many Elderly Were Left to Die”

“When Covid-19 Hit, Many Elderly Were Left to Die,” by Matina Stevis-Gridneff, Matt Apuzzo and Monika Pronczuk, New York Times Quote: “Of all the missteps by governments during the coronavirus pandemic, few have had such an immediate and devastating impact as the failure to protect nursing homes. Tens of thousands of older people died — casualties not only of the virus, but of more than a decade of ignored warnings that nursing homes were vulnerable. Public health officials around the world excluded nursing homes from their pandemic preparedness plans and omitted residents from the mathematical models used to guide their
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Categories: Clippings, Industry News, and Long-Term Care.

“Dementia on the Retreat in the U.S. and Europe’”

“Dementia on the Retreat in the U.S. and Europe,” by Gina Kolata, New York Times Quote: “Despite the lack of effective treatments or preventive strategies, the dementia epidemic is on the wane in the United States and Europe, scientists reported on Monday. The risk for a person to develop dementia over a lifetime is now 13 percent lower than it was in 2010. Incidence rates at every age have steadily declined over the past quarter-century. If the trend continues, the paper’s authors note, there will be 15 million fewer people in Europe and the United States with dementia than there are
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Categories: Clippings, Industry News, and Long-Term Care.

“Long-term care groups, 490 others, call for enactment of COVID-related legal protections ‘as soon as possible’”

“Long-term care groups, 490 others, call for enactment of COVID-related legal protections ‘as soon as possible’,” by Lois A. Bowers, McKnight’s Senior Living Quote: “Proposed legislation that would protect healthcare providers from COVID-19-related lawsuits ‘is critically needed and should be enacted as soon as possible,’ 495 organizations, including several associations representing senior living and other long-term care providers, wrote in a letter to all members of Congress.”     LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Averting a feeding frenzy by trial attorneys or sheltering deficient Medicaid care from redress?        
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Categories: Clippings, Industry News, and Long-Term Care.

“COVID-19 May Fix GE’s Long-Term Care Problem”

“COVID-19 May Fix GE’s Long-Term Care Problem,” by Adam Levine-Weinberg, Seeking Alpha Quote: “In early 2018, GE took a $9.5 billion pre-tax charge and announced that it would have to add nearly $15 billion to its long-term care insurance reserves by 2024. Many investors have continued to worry that GE would eventually need to set aside even greater reserves. The COVID-19 pandemic appears to have sparked an uptick in long-term care policy terminations, reducing future liabilities. With long-term care premiums rising and skilled-nursing facilities increasingly seeming dangerous, policy terminations could continue in the quarters ahead. GE stock has fallen too
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“COVID-19 long-term toll signals billions in healthcare costs ahead”

“COVID-19 long-term toll signals billions in healthcare costs ahead,” by Caroline Humer, Nick Brown, Emilio Parodi, Reuters Quote: “With mounting evidence that some COVID-19 survivors face months, or possibly years, of debilitating complications, healthcare experts are beginning to study possible long-term costs.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This may offset savings on reserves from pandemic deaths of people insured for long-term care.        
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“What We Know About Provider Consolidation”

“What We Know About Provider Consolidation,” by Karyn Schwartz, el al., Kaiser Family Foundation Quote: “The COVID-19 pandemic has led to dramatic decreases in health care spending, as patients and providers have delayed a wide range of health care services. The decrease in service use and spending resulted in a decline in revenue for many providers at the same time that some are facing increased costs due to the pandemic. Given the uncertain timing of a ‘return to normal’ and potentially lingering effects of the current economic crisis, some providers may continue to experience sustained declines in revenue even with
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Categories: Clippings, COVID-19, and Industry News.

“68 Million Americans Are Changing Their Retirement Plans”

“68 Million Americans Are Changing Their Retirement Plans,” by Ken Dychtwald and Bob Morison, Forbes Quote: “A just-released landmark study finds that 39% of American workers, some 68 million in all, are changing their retirement timing. The research is a comprehensive five-generation retirement study conducted by Edward Jones and Age Wave (our research organization), including a survey of 9,000 North Americans conducted by The Harris Poll. The study was timed to incorporate a close look at how the pandemic is impacting people’s lives and retirements. … This is the fifth in a 10-part series on ‘The Future of Retirement’ that we are posting
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Categories: Clippings and Industry News.