“Medicare Beneficiaries’ Financial Security Before the Coronavirus Pandemic,” by Wyatt Koma, et al., Kaiser Family Foundation Quote: “This analysis looks at the income, assets and home equity of Medicare beneficiaries prior to coronavirus outbreak, using data from the Dynamic Simulation of Income Model (DYNASIM) for 2019 (See Methodology for details). We look at the overall population and variations by age, gender, and race/ethnicity. Because the analysis is based on information available prior to the pandemic, the estimates do not reflect the impact that the coronavirus economy has had, or will have, on Medicare beneficiaries’ income and savings. Key Findings Even before
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“Medi(long-term)care for all: A look Into the future of long-term care insurance—Part one,” by Stephanie Moench and Shawn Stender, Society of Actuaries Long-Term Care News Quote: “The need for long-term care (LTC) services has been fairly well documented since the inception of the private LTC insurance industry in the 1980s. The need for LTC is not going away, especially as the population continues to age. This article explores three possible future paths for LTC insurance funding and the associated implications for the private LTC industry.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Read this thoughtful article and
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“Long-Term Care Protection Without Additional Cost,” by Bryant Monson, Forbes Quote: “Many of our clients find they could have long-term care protection without the out-of-pocket cost. We found the following solution is an option that can work well for them. Use a disposable asset to create income to pay the long-term care premium AND pay the premium for a life insurance policy designed to replace the original asset. This can only be done using an asset not needed for current or future use. By using a three-tiered approach, we not only provide long-term care protection, but we eliminate the worry
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“MILLENNIALS SURPASS BABY BOOMERS AS LARGEST U.S. GENERATION, ENDING 20-YEAR RUN,” by Benjamin Fearnow, Newsweek Quote: “For the first time in the 21st Century, the Baby Boomers are no longer the largest generation in America. Millennials, an age group defined as people between the ages of 23 to 38 years old, overtook their Boomer counterparts as of July 1, 2019, according to U.S. Census Bureau data compiled by the Pew Research Center and published Tuesday. Boomers, defined as Americans aged 55 to 73, had been the nation’s largest living adult generation since 1999 and they held that title for two decades. Generation
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“How Can a Trust Help You Avoid Nursing Home Costs?,” by Chris Berry, Kiplinger’s Quote: “How does it work for long-term care protection? Once you move your assets into an irrevocable trust, you’re effectively depleting your estate of disposable assets, a move that eventually will allow you to use Medicaid assistance to help pay for your basic long-term care costs. But you won’t be without additional resources: The trust can still provide you with some income to improve your quality of life. Or for a married couple, if one spouse needs long-term care, the other spouse won’t become completely impoverished
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“A Dozen Facts About Medicare Advantage in 2020,” by Meredith Freed, Anthony Damico, and Tricia Neuman, Kaiser Family Foundation   Quote: “Medicare Advantage enrollment has grown rapidly over the past decade, and Medicare Advantage plans have taken on a larger role in the Medicare program. This data analysis provides current information and trends about Medicare Advantage enrollment, premiums, and out-of-pocket limits. It also includes analyses of Medicare Advantage plans’ extra benefits and prior authorization requirements. The analysis also highlights changes pertaining to Medicare Advantage coverage that have occurred in 2020 in response to the COVID-19 crisis.” LTC Comment (from Stephen A. Moses, President, Center for
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