“Big 5 insurers depend on Medicare, Medicaid for growth in enrollment, profits,” by Susan Morse, HealthCareFinance   “The nation’s five largest insurers are increasingly dependent on government programs such as Medicare and Medicaid for growth in enrollment, revenue and profits, according to a new Health Affairs study. UnitedHealthcare, Anthem, Aetna, Cigna, and Humana collectively cover 43 percent of the total U.S. insured population, the report said. Due in large part to an aging baby boomer population, Medicare and Medicaid account for nearly 60 percent of the big five’s revenues and 20 percent of their plan membership. . . . Medicare
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“SUNY study: Nursing homes in minority neighborhoods provide poorer quality care,” Times Union   “Nursing homes located in minority neighborhoods and with more low-income patients have notably lower quality and worse fiscal stress, two State University of New York researchers have found. . . . The researchers found that: • Medicaid-dependent nursing homes have higher levels of fiscal stress than those that are paid with private funds; • A 1 percent increase in the number of neighborhood residents living in poverty was associated with a 1.2-point drop in ratings of quality; • A 1 percent increase in the number of
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“The cost of caregiving: ‘A sacrifice for our entire family’,” by Jonnelle Marte, The Washington Post “Alantris Muhammad says there was no question that she would leave her job after her mother was in a car accident that left her unable to walk or eat on her own. “Once they become caregivers, adult children are likely to commit a substantial amount of time — about 77 hours on average each month — to looking after their relatives, the researchers found. For people who provide round-the-clock care, the commitment is even greater. “But the true financial toll can be difficult to
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“What if the elderly could swap home equity for long-term care?,” The Times of Malta “Home equity release could be one way of helping to guarantee better living standards for the elderly, according to Mario Vella, the Governor of the Central Bank of Malta. Addressing the annual dinner of the Institute of Financial Services (IFS) Malta on Friday evening, Dr Vella said: ‘We have a situation where many elderly persons are asset rich but cash poor.  They live on relatively modest pensions while residing in large and relatively expensive homes. ‘This creates issues for financing long-term care, as many find
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“Seven tips on becoming a ‘financial’ caregiver,” by Robert Powell, USA Today “Millions of Americans, most of whom are women, are not only providing care to aging parents and loved ones, but they’re also serving as “financial” caregivers. In fact, some 92% of caregivers are paying bills from their care recipient’s accounts; monitoring bank accounts; handling insurance claims; filing taxes, and managing invested assets, according to a new Merrill Lynch study, conducted in partnership with Age Wave. And all that financial caregiving comes with a big price tag. Consider: Some 40 million family and friend caregivers in the U.S. collectively
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