“OneAmerica Sees LTC Solutions Knowledge Gap,” by Allison Bell, ThinkAdvisor “Marketers at OneAmerica say they have new evidence that ignorance continues to be a barrier to use of insurance-based long-term care planning arrangements. . . . About 25% of the participants said they believe they have some kind of insurance that will help them pay for long-term care (LTC) services. But 13% of the participants said they have never heard of long-term care insurance (LTCI), and 9% said they don’t have any insured LTC planning products because they don’t know how to get the products. About 53% of the survey
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“Aging, the longevity economy and what it means to you,” by Robert Powell, USA Today “Joe Coughlin, the director of the MIT Age Lab, wants to help companies unlock the world’s fastest-growing, most misunderstood market — aging Boomers. In his new book, The Longevity Economy, describes how companies can prepare for the guaranteed — an aging world. Below he answered our questions about his book and an $8 trillion market.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Some new ideas on adapting commercially to the age wave. Aging, the longevity economy and what it means
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“State’s long-term care savings plan winding down,” by Don Walton, Scottsbluff Star Herald “Nebraska’s first-of-its kind long-term care savings plan, which was created by the Legislature in 2006, will come to an end on Jan. 1 due to a low level of participation. . . . Participants could deduct up to $1,000 from their federally adjusted gross income for Nebraska state income tax purposes by depositing an equal amount in a designated account. The program had 519 participants at the end of last year. . . . ‘The worthy goal was to reduce older Nebraskans’ dependency on Medicaid and promote personal
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“SNFs’ neighborhoods, Medicaid reliance linked to providers’ fiscal stress,” by Emily Mongan, McKnight’s LTC News “The economic and racial makeup of the neighborhood where a nursing home is located plays a big role in how financially stressed it is, a new study confirms. . . . The study’s State University of New York-based authors found skilled nursing facilities in neighborhoods with a higher concentration of minorities were more likely to be fiscally stressed and have lower quality ratings than other homes.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Why do you suppose that is? SNFs
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“Retirement planning should include long-term care costs,” by Alexandra Olson, AP “Many Americans have a blind spot when it comes to retirement planning: long-term care costs. Even though the majority of Americans will at some point need long-term care, few are planning for it. Many underestimate the costs and mistakenly believe health insurance can help cover it. . . . Here is some guidance on how you can get a jump-start on planning. . . . So it’s a good idea to take the time to research Medicaid rules, particularly what sorts of assets you might have to spend down
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“Confronting Retirement in a Low-Yield World,” by Christine Benz, Morningstar.com “One key risk factor for Stephen and Diane’s plan–as is the case with so many retirees today–is that they don’t have long-term care insurance. Unfortunately, purchasing insurance at their age can be extremely expensive; depending on their health, it may be unavailable. I’d recommend that they think through an action plan on this front–either carving out a long-term care fund and segregating it from the rest of their portfolio or investigating some type of long-term care coverage such as a hybrid annuity/long-term care policy. This article discusses the pros and
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“Medicaid is out of control and unsustainable. Work requirements could help,” by Nicholas Horton, National Review “The Medicaid program is at its breaking point. Even before Obamacare lured some states into expanding the program to non-disabled, working-age adults, Medicaid was growing at an alarming rate. Now, in the Obamacare era, the program is growing even faster, siphoning more and more resources away from folks who truly depend on Medicaid for survival. A new report, released this week by the Foundation for Government Accountability, gives a glimpse of just how serious the problem is.” LTC Comment (from Stephen A. Moses, President,
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