“Private Pay Skilled Nursing Shouldn’t Be Ignored, Especially in Rural Areas,” by Maggie Flynn, Skilled Nursing News “Private-pay residents are frequently overlooked as a revenue source in the skilled nursing world, and with some cause: They don’t have the staying power of Medicaid or the sizable market share of Medicare or managed care. But ignoring that stream altogether could be a mistake, particularly for operators with more rural locations.” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform): Private pay nursing home census was 50% or more before Medicaid came on the scene in 1965. Now
Read More

“What the Hell Happened at GE?,” by Geoff Colvin, Fortune “In January [GE] wrote off $6.2 billion in connection with a long-term-care insurance business in GE Capital and said that business would require another $15 billion of write-offs over the next seven years. The charge was so big and unexpected that the SEC opened an investigation, still unresolved.” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform): Fascinating story of a corporate implosion with an LTCI hook. What the Hell Happened at GE? #GE #goldencareagent
Read More

“How HSA savings can be used for long-term care in retirement,” by Steve Christenson, Employee Benefit News “The cost of healthcare for a married couple during retirement is estimated to range from $250,000 to $400,000. HSA owners can use their HSA savings for qualified medical expenses at any age, but let’s consider a few ways to use these assets in retirement (after turning age 65) and how they are taxed. … Here are a few services that can be paid with HSA savings. Payments for in-patient hospital care Payments for residential nursing home care for medical reasons (If the main
Read More

“With death rate up, US life expectancy is likely down again,” by Mike Stobe, Associated Press “The U.S. death rate rose last year, and 2017 likely will mark the third straight year of decline in American life expectancy, according to preliminary data. Death rates rose for Alzheimer’s disease, diabetes, flu and pneumonia, and three other leading causes of death, according to numbers posted online Wednesday by the Centers for Disease Control and Prevention. Full-year data is not yet available for drug overdoses, suicides or firearm deaths. But partial-year statistics in those categories showed continuing increases. Just as important, there was
Read More

“Now More Of Us Can Count On More Time Dodging The Dementia Bullet,” by Judith Graham, Washington Post “You’ve turned 65 and exited middle age. What are the chances you’ll develop cognitive impairment or dementia in the years ahead? New research about ‘cognitive life expectancy’ — how long older adults live with good versus declining brain health — shows that after age 65 men and women spend more than a dozen years in good cognitive health, on average. And, over the past decade, that time span has been expanding. By contrast, cognitive challenges arise in a more compressed time frame
Read More

“The cost of long-term-care insurance keeps rising,” by Walecia Konrad, CBS News Quote: “Long-term-care insurance seemed like such a great idea. Buy a policy when you’re in your 50s or 60s, while you’re still relatively healthy, pay your monthly premiums and in return you’ll have help managing the astronomical costs of a nursing home, assisted-living facility or personal aide when the time comes. … But long-term-care insurance hasn’t exactly worked out that way.” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform): This article, relatively more accurate than most of its ilk, has gotten wide play
Read More

“Aging Baby Boomers are Continuing to Impact the Composition of the American Labor Force,” by EBRI, Advisor Magazine Quote: “New research from the Employee Benefit Research Institute (EBRI) shows that the baby-boom generation has created a wave of sorts moving through the American labor force for the last four decades. As boomers have entered each age demographic, that group has become the largest component of the population and of the labor force. Now, as the last of the Baby Boomers enter their mid 50s, and as they are living longer than prior generations, their impact on the age of the American
Read More

“Analysis: New Mexico Nursing Homes Worst in Nation,” U.S. News & World Report Quote: “A recent analysis says New Mexico nursing homes are the worst in the nation. The Albuquerque Journal reports an analysis by the investigative journalism organization ProPublica showed that of 74 Medicare- and Medicaid-certified homes located in New Mexico, inspectors reported serious deficiencies in 36 of them between 2015 and April 2018. … A spokesman for the New Mexico Department of Health’s Division of Health Improvement said in a statement that the department “take(s) seriously our role to protect New Mexico’s elderly population.” LTC Comment (from Stephen
Read More

“How to Age Well and Stay in Your Home,” by Jane E. Brody, New York Times Quote: “I recommend a very helpful, comprehensive yet not overwhelming book, ‘Age in Place: A Guide to Modifying, Organizing, and Decluttering Mom and Dad’s Home,’ by Lynda G. Shrager, an occupational therapist for the last 37 years who has worked with seniors in their homes for more than 13 years. Ms. Shrager has good reasons to believe that addressing the challenges of independent living can help keep seniors safe and their kids sane.” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term
Read More