“Bill would let people tap retirement accounts for long-term care insurance,” by Lois A. Bowers, McKnight’s Senior Living   Quote: “Individuals would be allowed to withdraw up to $2,000 per year, tax-free, from their retirement accounts to pay for long-term care insurance to fund long-term services and supports under a bill proposed by Sen. Patrick Toomey (R-PA).”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Senator Toomey’s staff reached out to me for comments on the bill. I said I support it as it will increase affordability for LTCI and expand the buyer base. But I added
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“Assisted living threatened by looming federal expirations,” by Lois A. Bowers, McKnight’s Senior Living,    Quote: “A federal rule provision and a federal program, both of which help enable older adults to live in assisted living or at home rather than in nursing homes, are set to expire Dec. 31 unless Congress acts.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Perfect follow up to the clipping we just sent because this makes it explicit that these two programs, possibly expiring soon, are the reason Medicaid census in assisted living facilities has leaped to 20%.
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Medicaid initiatives that push long-term home, community care over nursing homes could end this year,” by Danielle Brown, McKnight’s LTC News   Quote: “Funding deadlines are nearing for two initiatives that encourage Medicaid beneficiaries to use long-term home and community care, according to two Kaiser Family Foundation reports. The short-term funding extension for Medicaid’s Money Follows the Person (MFP) program and the spousal impoverishment provision under the Affordable Care Act are both set to expire Dec. 31. States receive enhanced federal matching funds to help seniors and people with disabilities move from institutions to the community through the MFP program,
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“Jeffrey Brown: Saving for Retirement ‘Only Half the Puzzle’,” Morningstar   Quote: “Our guest on the podcast today is Dr. Jeffrey Brown, the Josef and Margot Lakonishok Professor and the Dean of the University of Illinois Gies College of Business. A key focus of Dean Brown’s research is how to create sustainable retirement income, including the role of annuities, Social Security, 401(k)s, pensions and long-term care planning. He’s a research affiliate at the National Bureau of Economic Research, a faculty affiliate of the Institute on Government and Policy Affairs, and a fellow at the TIAA Institute. He also serves as
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“About the Certification for Long-Term Care (CLTC),” by Sarah Fisher, Yahoo! Finance   Quote: “With millions of people living into their 70s, 80s and 90s, the costs of healthcare, long-term care, aides and nursing homes are straining finances in many families. In response to this chronic problem, the financial and insurance industries have created many specializations for professional advisors. One of these, the Certification for Long-Term Care (CLTC), focuses on the complexities and expenses of services for the aged. If you’re making a plan for yourself or a loved one, you may want to engage an advisor with this certification.
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