“More Than One-Third of People with Traditional Medicare Spent at Least 20 Percent of Their Total Income on Health Care in 2013,” Kaiser Family Foundation “Health care costs are a substantial and growing burden for many people on Medicare and are projected to consume a larger share of total income over time, according to a new analysis from the Kaiser Family Foundation. The study, Medicare Beneficiaries’ Out-of-Pocket Health Care Spending as a Share of Income Now and Projections for the Future, finds that more than one-third of people with traditional Medicare spent at least 20 percent of their total income
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“Assisted living communities top nursing homes for caregiver pay”
“Assisted living communities top nursing homes for caregiver pay,” by Lois A. Bowers, McKnight’s Senior Living “Assisted living communities pay staff nurses (RNs), licensed practical nurses and certified nurse aides more than do nursing homes, on average, according to the 20th annual “Assisted Living Salary & Benefits Report,” published by the Hospital & Healthcare Compensation Service. . . . According to the report: RNs make $29.39 per hour at assisted living communities, $28.90 at CCRCs and $27.84 at nursing homes. LPN hourly wages are $23.13 at assisted living communities, $22.49 at CCRCs and $21.56 at nursing homes. CNAs make $13.13
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“Out-of-pocket health-care costs likely to take half of Social Security income by 2030, analysis shows”
“Out-of-pocket health-care costs likely to take half of Social Security income by 2030, analysis shows,” by Michelle Singletary, The Washington Post “A new analysis by the Kaiser Family Foundation has found out-of-pocket health-care costs for Medicare beneficiaries are likely to take up half of their average Social Security income by 2030. As many seniors already know, Medicare does not cover an increasing number of expenses related to health care. Among these are supplemental insurance premiums, deductibles, long-term care and dental services. Many Medicare recipients need to prepare for a big chunk of their income to be consumed by these out-of-pocket
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“This is the reality of being in a nursing home”
“This is the reality of being in a nursing home,” by Patricia Corrigan, MarketWatch “Nursing assistants are on the front lines at rehabilitation centers and nursing homes, delivering much of the patient care. At the same time, every major news outlet is sounding the alarm about the nationwide shortage of caregivers, paid and unpaid, and what that means for us aging boomers. “A ‘train wreck waiting to happen’ In August, a Next Avenue article quoted Paul Osterman, author of ‘Who Will Care for Us?: Long-Term Care and the Long-Term Workforce,’ predicting that the number of adults 65 and older requiring long-term care ‘could rise by
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“How the Age Wave Will Transform Health, Longevity and Medicine”
“How the Age Wave Will Transform Health, Longevity and Medicine: Ken Dychtwald’s Keynote at the Exponential Medicine Conference Watch Video “At the recent Singularity University Exponential Medicine Summit, leading innovators, clinicians, and investors came together to explore the cutting edge of technology and medicine. In his keynote speech, Ken Dychtwald dramatically explained how the longevity revolution is forcing us to re-imagine the next frontier of health and science. By approaching global aging with a forward-facing eye, Dr. Dychtwald challenges the attendees with the ‘moonshots’ needed to match our healthspans to our growing lifespans. He also forecasts the breakthrough businesses poised to see explosive
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“Latest Alzheimer’s Flop Raises Doubts About ‘Amyloid Hypothesis’”
“Latest Alzheimer’s Flop Raises Doubts About ‘Amyloid Hypothesis’,” by Arlene Weintraub, Forbes “Even after Eli Lilly announced that its experimental Alzheimer’s drug solanezumab had failed in clinical trials in late 2016, it continued investigating its potential in patients at the very earliest stages of the memory-stealing disease. The hope was that if the drug could eliminate soluble amyloid-beta—the protein blamed for the brain plaques that form in patients—Alzheimer’s progression might be stopped, or at least slowed significantly. “That hope has now been dashed. New data from a trial called Expedition3, published in the New England Journal of Medicine, does not
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“GE is under SEC investigation”
“GE is under SEC investigation,” by Matt Egan, CNN Money “GE (GE) said on Wednesday that regulators are investigating a $6.2 billion insurance loss that the company revealed last week. The disclosure is a new and potentially much more serious problem for a company already reeling from missteps and questionable management decisions. The SEC is also investigating the company’s accounting, chief financial officer Jamie Miller told analysts during a conference call. Specifically, she said the agency is looking into “revenue recognition and controls” for the company’s long-term service agreements.” LTC Comment (from Damon V. Moses, President, Administrative Coordinator): Here’s the
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CMS Has Announced The 2018 Copy/Deductibles
The Centers for Medicare and Medicaid Services (CMS) recently announced their 2018 Copay/Deductibles. Listed below are basic costs for people with Medicare. 2018 Copay/Deductibles 2017 2018 Part A Deductible $1,316 $1,340 Part B Deductible $353,773 $371,462 Part A Coinsurance Days 61 — 90 $329 $335 Days 91 — 150 (Lifetime Reserve Days*) $658 $670 Skilled Nursing Home Days 21 — 100 $164.50 $167.50 Standard Part B Monthly Premium $134 $134 High Deductible Plan F $2,200 $2,240 Plan K Out of Pocket $5,120 $5,240 Plan L Out of Pocket $2,560 $2,620 Click here for the
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In-Force Rate Action Announcement: Pennsylvania (Pre-PCS, PCS I, PCS II)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Pennsylvania has now allowed the following increase: Pennsylvania Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 0% 10% PCS I 7% 20% PCS II 20% 20% This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Michigan (PCS I, PCS II)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Michigan has now allowed the following increases: Michigan Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 55% 72% PCS II 55% 72% This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the
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Genworth, Industry News, and Long-Term Care.
