“Social Security Is Staring at Its First Real Shortfall in Decades,” by Jeff Sommer, New York Times “A slow-moving crisis is approaching for Social Security, threatening to undermine a central pillar in the retirement of tens of millions of Americans. Next year, for the first time since 1982, the program must start drawing down its assets in order to pay retirees all of the benefits they have been promised, according to the latest government projections. Unless a political solution is reached, Social Security’s so-called trust funds are expected to be depleted within about 15 years. Then, something that has been unimaginable for
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“Caring for a Family Member Can Take a Toll on One’s Career,” Advisor Magazine “According to LIMRA research, there are 43 million Americans currently acting as an unpaid caregiver for a family member. Advances in medicine and better lifestyle choices have helped more Americans live longer but many of these older Americans often need caregiving help – and oftentimes it falls on the family to provide it. LIMRA wanted to learn how caregiving for a family member impacted their family’s finances. Aside from the out-of-pocket costs associated with caring for a loved one, which AARP estimates is almost $7000 annually, there
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“Early-Onset AD Linked With LDL Cholesterol,” by Vicki Brower, MedPage Today “Elevated LDL cholesterol levels were tied to a higher probability of early-onset AD, a case series showed. Early-onset Alzheimer’s patients had higher levels of LDL cholesterol, total cholesterol, and apolipoprotein B (Apo B) levels, even after adjusting for the apolipoprotein E ε4 (APOE E4) allele — a genetic risk factor known to raise circulating cholesterol, reported Thomas Wingo, MD, of Emory University in Atlanta, and colleagues.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Factors that can increase your risk of LDL cholesterol include poor
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“Did CalPERS mislead policyholders on long-term care insurance? Trial begins on a $1.2 billion lawsuit,” Sacramento Bee “A $1.2 billion lawsuit that could affect up to about 100,000 seniors who had CalPERS long-term care insurance plans goes to trial Monday. The class-action lawsuit claims the California Public Employees’ Retirement System violated insurance policy terms when it increased premiums by 85 percent in 2015 and 2016 after promising policyholders stability. ‘These people were completely, completely misled,’ said Michael Bidart, an attorney representing the plaintiffs. CalPERS contends it had the legal authority to raise the premiums. ‘We raised rates to sustain the plan and we believe
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“Hawaii, Mississippi bookend new list of healthiest states for older adults,” by Lois A. Bowers, McKnight’s Senior Living “Hawaii is the healthiest state for older adults, and Mississippi is the least healthy, according to United Health Foundation’s 2019 ‘America’s Health Rankings Senior Report.’” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Poke vs. po’boy.
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“Community Care For High-Need Patients,” by Alan R. Weil, Health Affairs “Almost everyone wants to live in their own home and community as they age. Yet for many, later age brings frailty and the accumulation of chronic conditions. This month’s issue of Health Affairs examines how we can best provide care in the community for people with advanced illness.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): The June issue of Health Affairs focuses on problems with home health care for the aging, including caregiver shortages and financing. This month’s issue has several “open access” articles of interest
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“A Dozen Facts About Medicare Advantage in 2019,” by Gretchen Jacobson, Meredith Freed, Anthony Damico, and Tricia Neuman, Kaiser Family Foundation “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 collection 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.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Latest status of the MA boom.
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“Views: A retirement readiness benefit that addresses the financial challenges of aging,” by Brian Harrington, Employee Benefit News “With financial readiness emerging as a major theme in benefits, attention is turning to an often overlooked aspect of retirement planning: helping employees address the financial challenges of aging — namely long-term care, an expense that can quickly wipe out the best-laid retirement plans. To help employees and their families protect their hard-earned savings from these potentially devastating costs, more employers are offering group long-term care insurance as part of their financial readiness benefits.” LTC Comment (from Stephen A. Moses, President, Center for
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