“GE CEO Renews Pledge to Study Breakup After $6.2 Billion Stumble,” by Rick Clough, Bloomberg “Flannery renewed the discussion of a potential breakup after disclosing a $6.2 billion charge related to an old portfolio of long-term care insurance, another setback for a company already struggling with flagging demand in some key markets. The CEO, who took over for Jeffrey Immelt in August, is cutting costs and selling assets after GE posted last year’s biggest drop on the Dow Jones Industrial Average.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Blaming the breakup of General Electric on long-term care
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“Skilled Nursing Providers Sue Illinois Over Medicaid Rates,” by Alex Spanko, Skilled Nursing News “A group of five nursing home providers sued the state of Illinois late last week in federal court, claiming that low Medicaid reimbursement rates in the Land of Lincoln could force them to shut down.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): If this is happening already with the economy booming and state revenues way up, just imagine what’s going to happen when the next recession hits. One more reason to have LTCI and not rely on Medicaid. Skilled Nursing Providers
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“How Millionaires Collect Food Stamps,” by Kristina Rasmussen, Wall Street Journal “You probably assume that food stamps go to poor people only. But this policy, which the U.S. Department of Agriculture instituted during the Clinton administration, allows state food-stamp programs to grant benefits to anyone who has moderately low wage income, regardless of net worth. A family with a seven-figure bank account can be eligible for food stamps.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): To get Medicaid to pay for long-term care, you don’t even have to have low income. For details, see “How
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“Anxiety: An early indicator of Alzheimer’s disease?,” EurekAlert “From their research, the team found that higher brain amyloid beta burden was associated with increasing anxiety symptoms over time in cognitively normal older adults. The results suggest that worsening anxious-depressive symptoms may be an early predictor of elevated amyloid beta levels – and, in turn AD — and provide support for the hypothesis that emerging neuropsychiatric symptoms represent an early manifestation of preclinical Alzheimer’s disease.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Oh,oh! News like this makes me anxious. Anxiety: An early indicator of Alzheimer’s disease?
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