“More older people in America are embracing a new relationship style called ‘living apart together’,” by Sheena Rice, Next Avenue

“Since 1990, the divorce rate among adults 50 years and older has doubled. This trend, along with longer life expectancy, has resulted in many adults forming new partnerships later in life. A new phenomenon called ‘Living Apart Together’ (LAT) — an intimate relationship without a shared residence — is gaining popularity as an alternative form of commitment among both older and younger adults.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): “Friends with benefits” for the older set, but not likely to be much help with long-term caregiving. More older people in America are embracing a
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Categories: Industry News and Long-Term Care.

Millennials, don’t forget estate planning

It’s not a surprise that people in their 20s and 30s wouldn’t have estate planning at the top of their mind. After all, the creation of legal documents such as living wills, last wills and testaments, powers of attorney for medical and financial well-being, and potential trusts is a foreign concept to many people, especially those who aren’t married or don’t have children. Many people assume you don’t need to work on those plans until your 50s or 60s. That’s a big mistake. The reality is that everyone needs to be thinking about estate planning. Here is why millennials should
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Categories: Long-Term Care and National Guardian Life.

“Seniors’ use of technology is growing, survey finds,” by Lois A. Bowers, McKnight’s Senior Living

“The most common technology used by survey participants older than 70 was a cell phone, although the percentage of users dropped when they were asked whether they used a smartphone. Ninety-three percent of those 70 to 74 reported owning a cell phone, whereas 49% said they had a smartphone. Similarly, 63% of those aged 75 to 79 said they own a cell phone, whereas 31% had a smartphone. And 58% of those aged 80 or more years reported owning a cell phone, whereas 17% said they had a smartphone. The next most frequently used technology was the internet, with 75%
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Categories: Industry News and Long-Term Care.

“Home Health vs. Seniors Housing,” The SeniorCare Investor Dealmakers Forum

“There has been a tremendous push for home health-based supports and services for the elderly, including allocating state and federal funds to allow more elderly to remain in their homes rather than moving to a more institutional setting. How will it impact the value and demand for seniors housing and care settings? . . . The topics discussed include what the true cost of home health is relative to the all-in cost of an assisted living community, how technology will change the future of these markets, and if assisted living providers are pursuing the home health business to complement their
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Categories: Industry News and Long-Term Care.

“Planning to Age in Place? Find a Contractor Now,” by Paula Span, New York Times

“Older people have the highest rate of homeownership in the country — about 80 percent, according to a 2016 report by the Joint Center for Housing Studies at Harvard. The great majority live in single-family homes, most of them poorly suited for the disabilities common in later life.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): How ironic that seniors have so much home equity that could help them age in place, but government policy, in the form of huge exemptions for home equity, divert them to nursing homes under-funded by Medicaid. Planning to Age in
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Categories: Industry News and Long-Term Care.

“5 New Facts About Retirees’ Real Health Care Bills,” by Allison Bel, ThinkAdvisor

“The authors of the new paper don’t break catastrophic risk down by income level, but they note that Medicare enrollees in the top 5% in terms of out-of-pocket spending probably spent an average of $19,009 out of pocket in 2016. . . . In 2016, high-income Medicare enrollees spent an average of $564 on dental care, $820 on audiologists and other providers not paid by Medicare, and $913 on prescription drug co-payments and coinsurance bills. . . . The new out-of-pocket spending analysis shows that, for the 2016 Medicare enrollees in the top 5% in terms of out-of-pocketing spending, long-term
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Categories: Industry News and Long-Term Care.

“Thinking Gen X: An Overdue Look at an Overlooked Generation,” by Olivia Mellan and Sherry Christie, ThinkAdvisor

“It may be fitting that the group nestled between baby boomers and millennials is labeled “Generation X,” since its members are more of an unknown than the generations before and after. Their elders, the boomers, have virtually owned popular culture since the Beatles landed in the U.S. in 1964. Their kid brothers and sisters, the millennials, are applauded for their tech use, social consciousness and entrepreneurial gusto.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): It behooves LTCI producers to understand Generation X, born between 1961 and 1981, as they’re entering their peak-earnings and LTCI prospect
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Categories: Industry News and Long-Term Care.

“Assisted living is 16% of elder housing market: report,” by Lois A. Bowers, McKnight’s Senior Living

“Assisted living comes in second to skilled nursing in housing the elderly outside of traditional homes, according to the latest ‘SK&A U.S. Elder Care Market Summary.’ Skilled nursing centers represent 67% of the market, whereas assisted living has 16% of the market, according to the report. The SK&A report lists assisted living separately from personal care and board-and-care facilities, each of which it said represents approximately 1% of the market.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Very interesting data. Medicaid now spends more than half of its LTC expenditures on home and community-based care
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Categories: Industry News and Long-Term Care.

Rate Adjustments Effective August 1, 2017 – OH & SC

Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective August 1, 2017: Block of Business Impacted States NHA, LTA, HCA, LT50, NH50 Ohio, South Carolina     For a
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Omaha: How Your LTCi Policies Get Issued

Wednesday, May 24th 2:00 p.m. CT LTC Operations: How Policies Get Issued… a Behind-the-Scenes Look What happens after your client agrees to purchase a policy? Learn what items you should include with the app, what you can expect from the underwriting team and key milestones in the underwriting process. You can register for the webinar, add it to your calendar or both. On the day of the webinar, simply click the link from the confirmation email or calendar entry. There is no number to dial, just listen through your laptop or PC speakers or headphones. Add to calendar: Outlook  |
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).