“States face looming crisis over Medicaid growth, which could trigger changes for providers and payers”

  “States face looming crisis over Medicaid growth, which could trigger changes for providers and payers,” by Robert King, Fierce Healthcare Quote: “States are about to face a major budget crisis due to exponential growth in Medicaid enrollment and a decline in tax revenue, which experts say could lead to provider payment cuts or other measures to contain costs.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Very true, but the remainder of this article focuses on Medicaid’s acute care side. That’s not where the biggest financial shortfall will come. Long-term care users, who are 5.9
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Masks change everything” LTC Humor

  “Masks change everything,” by Gary Tetz, McKnight’s LTC News Quote: “What will COVID-19 do to Social Security’s finances? “Now that small respiratory droplets created by human speech have been found to hang out in the air for more than eight minutes, requiring masks in long-term care and any other setting where people congregate seems like a no-brainer. In fact, at the time of my inevitable demise, please slip one onto my face and leave it there. I don’t want to take any chances of spreading COVID-19 to the afterlife.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Seniors turn to reverse mortgages as a cash lifeline during the coronavirus crisis”

“Seniors turn to reverse mortgages as a cash lifeline during the coronavirus crisis,” by Ilana Polyak, CNBC   Quote: “What will COVID-19 do to Social Security’s finances? “More seniors turn to reverse mortgages as a cash lifeline during the coronavirus pandemic. A reverse mortgage can be used in correlation with other retirement income strategies to lessen what’s known as ‘sequence of return risk.’ Applications for reverse mortgages were up 15% in March, according to Reverse Mortgage Insight.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): I’ve long predicted that reverse mortgages would fill the LTC
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Ken Dychtwald: Pandemic Will Force Big Changes in Retirement Planning”

“Ken Dychtwald: Pandemic Will Force Big Changes in Retirement Planning,” by Jane Wollman Rusoff, ThinkAdvisor Quote: “What will COVID-19 do to Social Security’s finances? “The coronavirus pandemic is a shocking ‘intervention’ whose biggest impact will show up in retirement planning: The crisis has forced older people to consider the importance of matching health span to life span and think about aspiring to a more streamlined lifestyle, argues Ken Dychtwald, founder and CEO of Age Wave. The ‘Pitchman for the Graying Revolution,’ as Fortune Magazine dubbed him, psychologist and gerontologist co-founded Age Wave in 1986 to help companies and government develop
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Categories: Clippings, Industry News, and Long-Term Care.

“Key Takeaways: The Impact of COVID-19 on Social Security and Highlights from the Trustees’ 2020 Report”

“Key Takeaways: The Impact of COVID-19 on Social Security and Highlights from the Trustees’ 2020 Report,” by Chris Kaiser and Kara Watkins, Bipartisan Policy Center Quote: “What will COVID-19 do to Social Security’s finances? With so much economic uncertainty, the biggest financial impact is likely to be a reduction in the payroll taxes that fund most of Social Security. BPC modeled a number of different scenarios to project the impacts of recessions of varying depth and length over the coming months and years. As an example, if tax revenue to Social Security decreases by 15% for 2020 and 2021, this would bump
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Categories: Clippings, Industry News, and Long-Term Care.

“Algorithm Beats Experts in Alzheimer’s Diagnosis”

“Algorithm Beats Experts in Alzheimer’s Diagnosis,” by Art Jahnke, Futurity Quote: “The big takeaway, Kolachalama says, is that computers can accurately detect debilitating conditions such as Alzheimer’s disease using readily available data, such as an MRI brain scan. That suggests that such technologies have a wide-reaching potential, especially in resource-limited settings, where there is a paucity of clinicians with sufficient neurology expertise.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Automating underwriting?      
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Categories: Clippings, Industry News, and Long-Term Care.

“For Most States, At Least A Third Of COVID-19 Deaths Are In Long-Term Care Facilities”

“For Most States, At Least A Third Of COVID-19 Deaths Are In Long-Term Care Facilities,” by Vanessa Romo, NPR Quote: “Coronavirus fatalities in long-term care facilities have surpassed a grim threshold in much of the country, accounting for at least a third of the deaths in 26 states and more than half in 14 of those. The data, which was published by the Kaiser Family Foundation, reports tallies from a variety of care facilities, including nursing homes, adult care residences, and other skilled nursing care settings. However, it does not break out those categories separately.” LTC Comment (from Stephen A. Moses,
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“Genworth Aims to Line Up Backup Financing Options”

“Genworth Aims to Line Up Backup Financing Options,” by Allison Bell, ThinkAdvisor     Quote: “Genworth Financial Inc. hopes to be part of China Oceanwide Holdings Group Co. Ltd. of Beijing by June 30, but it intends to shop for other sources of financing, just in case. … Genworth also has $1.1 billion in debt coming due in 2021. China Oceanwide has been trying to acquire Genworth for about four years. … China Oceanwide and Genworth’s latest deal deadline extension gives Genworth the flexibility to seek other strategic options, McInerney said. … McInerney reported that, since 2012, Genworth has requested,
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Categories: Clippings, Genworth, Industry News, and Long-Term Care.

“The Grim Post-COVID-19 Future For Nursing Homes”

“The Grim Post-COVID-19 Future For Nursing Homes,” by Howard Gleckman, Forbes Quote: “There has been a lot of focus on the impact of COVID-19 on people in nursing homes, but less attention so far paid to seniors and people with disabilities receiving long-term home and community-based services (HCBS), who also face serious issues. Some news reports recently have emerged about outbreaks in group homes for people with developmental disabilities and the impact on people who receive and those who provide home care. HCBS help with tasks such as bathing, dressing, and preparing meals. Medicaid is the primary payer for these services, financing 59% of HCBS
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

“How Are States Supporting Medicaid Home and Community-Based Services During the COVID-19 Crisis?”

“How Are States Supporting Medicaid Home and Community-Based Services During the COVID-19 Crisis?,” by MaryBeth Musumeci, Kaiser Family Foundation Quote: “There has been a lot of focus on the impact of COVID-19 on people in nursing homes, but less attention so far paid to seniors and people with disabilities receiving long-term home and community-based services (HCBS), who also face serious issues. Some news reports recently have emerged about outbreaks in group homes for people with developmental disabilities and the impact on people who receive and those who provide home care. HCBS help with tasks such as bathing, dressing, and preparing meals. Medicaid is the primary
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.