“The 37 States That Don’t Tax Social Security Benefits,” Fox Business Quote:  “When you think of double taxation, you might think of dividends. After all, they’re paid to you out of the funds that remain after a company has been taxed on its earnings — and then they typically become taxable income for you. You might also be subject to another kind of double taxation, though — taxation of your Social Security benefits. Social Security benefits paid to you are not necessarily taxable, but they can be subject to federal tax if they exceed a certain level. On top of
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“The Long-Term Care Insurance Market Evolves,” by Mark Miller, Morningstar Quote:  “It’s a paradox: More Americans are worried about the risk that long-term care expenses can pose for their retirement plans, but few take action to protect themselves. The commercial long-term care insurance industry has never achieved mass market penetration levels, and sales have been falling steadily over the past five years. Chalk it up, in part, to consumer resistance. People are reluctant to spend thousands of dollars annually on insurance premiums for a long-term care need that might come far down the road, or not at all.” LTC Comment
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“How Many Seniors Are Living in Poverty? National and State Estimates Under the Official and Supplemental Poverty Measures in 2016,” by Juliette Cubanski, Kendal Orgera, Anthony Damico, and Tricia Neuman, Kaiser Family Foundation Quote:   “Payments from Social Security and Supplemental Security Income have played a critical role in enhancing economic security and reducing poverty rates among people ages 65 and older. Yet many older adults live on limited incomes and have modest savings. In 2016, half of all people on Medicare had incomes less than $26,200. This analysis provides current data on poverty rates among the 49.3 million seniors in
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“These 5 defensive moves can protect your money and wealth,” by Liz Miller, MarketWatch Quote:  “Every well-considered wealth-management plan includes an assessment of personal, property, and financial risk. Investments have risks that can’t readily be insured, so other risks must be managed in order to minimize threats to overall wealth goals. Fortunately, many of the personal risks that can threaten one’s wealth can be managed with proper insurance. Consider these five ways to reduce your exposure to risk: “2. Consider long-term care insurance: Studies indicate that at least one member of every couple living today is likely to need some
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“Why the daunting economics of elder care are about to get much worse,” by Patricia Smith, The Conversation Quote: “When no relative steps up to serve as an unpaid caregiver when the need arises, families hire paid caregivers or move their loved one into a nursing home, where a private room may cost $100,000 or more per year. Medicare rarely covers nursing home stays, and eligibility for Medicaid coverage is limited, so institutional care like that is generally out of reach for all but the wealthiest Americans or those with long-term care insurance – which also costs a lot. … In
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“Good data source referenced by Stephen D. Forman in the “LTCA Weekly Reader” Quote: “RBC Wealth Management did a bang-up job on their new report, “Taking Control of Healthcare in Retirement.” It’s a readable mix of text, graphs and well-sourced information that points frequently toward long-term care. Pre-retirees reading its 20-pages will not only get a better handle on the magnitude of the challenges they face, but also an encouraging tour of the manageable steps they can take.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):  We thank Center friend and Corporate member Steve Forman of
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“When is the Skilled Nursing Wave Coming? Depends Who You Ask,” by Alex Spanko, Skilled Nursing News Quote: “Depending on whose earnings call you happened to catch this season, the predicted surge in demand for skilled nursing services is just around the corner — or it isn’t coming at all.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):  Who’s right? Click through to the article. When is the Skilled Nursing Wave Coming? Depends Who You Ask #nursing #goldencareagent
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“Minnesota LTC pros apologize to public after abuse claims,” by Marty Stempniak, McKnight’s LTC News Quote: “Long-term care professionals in Minnesota are apologizing to the public this week, following abuse allegations against them in the Gopher State. Local press detailed some of those allegations in a report last week, calling conditions that seniors experienced ‘horrific’ and worse than a ‘doggy day care.’ Gayle Kvenvold, CEO of LeadingAge Minnesota, apologized to the public for past incidents, according to TwinCites.com.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):  Minnesota, along with Washington and Oregon, has one of the
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