“Rate Hikes Help Push Genworth LTCI Premium Revenue Higher,” by Allison Bell, ThinkAdvisor “For years, Genworth was a leader in the stand-alone long-term care insurance, life insurance and annuity markets. The LTCI unit is reporting $22 million in adjusted operating income on $1 billion in revenue, compared with $33 million in adjusted operating income on $1 billion in revenue for the year-earlier quarter. Premium increases helped Genworth push LTCI premium revenue up to $632 million, from $623 million.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Details on Genworth’s financial situation plus an update on the
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“Dr. Bill Thomas’ tiny house prototype now available for rent,” by Lois A. Bowers, McKnight’s Senior Living “The prototype of a tiny house introduced about a year ago by Dr. Bill Thomas is now available for rent through AirBnB for those who would like to try it out. Thomas envisions the prefabricated houses as accessory dwelling units or clustered into so-called pocket neighborhoods — for older adults and others who need affordable housing and desire to remain independent.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Another creative LTC idea from the inimitable Dr. Thomas. Dr.
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“Fitch Wants Insurers to Post More LTCI Performance Data,” by Allison Bell, ThinkAdvisor “Analysts at Fitch Ratings want life insurers to post more details about their long-term care insurance (LTCI) blocks. If life insurers post more, standardized LTCI performance information, and the increased supply of information makes the performance of each LTCI block easier to compare with the performance of other blocks, that would be ‘supportive of creditworthiness,’ Fitch says. Fitch made the plea for more LTCI performance information in a comment on its views of the LTCI sector.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care
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“Abusive Unlicensed Care Homes Are ‘Hidden In Plain Sight’ In America, Researcher Says,” by Robin Seaton Jefferson, Forbes “After completing a year-long study on unlicensed care homes in the United States, researchers are recommending among other things further investigation, more oversight and new ways to locate homes where they say ‘egregious crimes’ are being committed against the elderly, disabled and mentally ill. The independent, non-profit research firm, RTI International, completed the exploratory study and report for the Office of Disability, Aging and Long-Term Care Policy and the Office of the Assistant Secretary for Planning and Evaluation of the U.S. Department
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“The hidden male caregiver,” by Christina Ianzito, San Diego Union-Tribune “When we think of family caregivers, we tend to think of women. And in fact the typical caregiver is a middle-aged woman caring for a relative, often her mother. But the face of American caregiving is changing rapidly, according to “Breaking Stereotypes: Spotlight on Male Family Caregivers,” a recent report from AARP. Eight years ago, just 34 percent of caregivers surveyed were men. Today, 40 percent of the 40 million Americans caring for a loved one are male.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
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“Why does one of the most needed jobs pay so poorly?,” by Paul Solman, PBS “With about 10,000 baby boomers retiring every single day, home care is one of the fastest growing, most needed occupations in America. But there’s a problem: The current median pay is just $10.49 per hour. Economics correspondent Paul Solman reports on why these vital workers get paid so little. … Paul Solman: But with growing demand, not enough workers, basic economics says wages simply have to go up. The catch, home care is dominated by one payer. Yes, some is paid for privately through long-term
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