“Some Parental and Spousal Caregivers Face Financial Risks,” Government Accountability Office, GAO-19-382: Published: May 1, 2019. Publicly Released: May 31, 2019. “An estimated one in 10 Americans per year cared for a parent or spouse for some period of time from 2011 through 2017, and women were more likely than men to provide care, according to Bureau of Labor Statistics survey data. Both parental and spousal caregivers were older than the general population, with spousal caregivers generally being the oldest. In addition, spousal caregivers were less likely to have completed college or to be employed, and they had lower earnings than
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“TONI KING: Is Medicaid a good long-term care option?,” by Toni King, Chron “Toni, I have a friend who just received a bill from the state of Texas for his mother’s Medicaid nursing home care. No one informed him that Medicaid (the State of Texas) was running a tab of the entire healthcare that Medicaid paid and would take his mother’s house. Now Medicaid wants to be reimbursed for over $125,000 that was spent for his mother’s care and her expensive prescriptions. Stan recently received a document from MERP saying that Medicaid wants the money used for her care back
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“60+ population will outnumber population under 20 in 18 states next year,” by Lois A. Bowers, McKnight’s Senior Living “The number of residents aged 60 or more years will exceed the number of residents aged 20 or fewer years by next year in 18 states. … Most of the affected states are in the Northeast and Midwest, including ‘nearly every state from Wisconsin through New England’ … .”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Remember when “It’s Happening!” referred to “drugs, sex, and rock & roll?”
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“May a Medicaid Applicant Freely Transfer Assets to a Disabled Child of Any Age?,” ElderLaw Answers “I have read that a Medicaid applicant won’t be penalized for making transfers to a disabled child during the look-back period, but I would like to know if there is an age limit for the child. My mother has Alzheimer’s disease, and I am her agent under a power of attorney. I am considered permanently disabled by Social Security and collect Social Security disability benefits. Can my mother transfer assets to me without being penalized by Medicaid?”   LTC Comment (from Stephen A. Moses,
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“12 Reasons LTC Planning Matters to Women Year-Round,” by Margie Barrie, ThinkAdvisor “Margie Barrie, a veteran long-term care (LTC) planner and educator, has been writing articles about LTC finance issues for decades. Here she looks at women’s need for LTC planning services.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Points well taken.
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“TCI Issuer Gets New President,” by Allison Bell, ThinkAdvisor “Patrick Prichard has taken over from Kevin Stutler as president of LifeSecure Insurance Company — one of the company that’s still writing stand-alone long-term care insurance (LTCI). … LifeSecure has put more emphasis on the sale of critical illness insurance and other non-LTCI products in the past few years.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Congratulations.
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“Retirement saving delay is biggest financial regret,” by Lois A. Bowers, McKnight’s Senior Living “Seventy-six percent of respondents to consumer financial services company Bankrate’s May Financial Security Index survey said they have financial regrets, and not saving for retirement early enough was the most commonly cited financial regret. The regret was stronger as participants got older.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Not saving will probably remain their biggest regret … until they need LTC insurance and don’t have it.
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