By: Matt Sussman, CLTC Senior Director of Business Development November has been declared Long Term Care Awareness month by the U.S. Congress. As an individual who can make a difference in how a family prepares for a long term care event, this month should be professionally meaningful to you. It should also give you additional reasons to bring up the topic of long term care planning. According to the International Journal of Epidemiology; from 2000 to 2050, the senior population is projected to grow by 135 percent; therefore the potential prospects are certainly available. People aged 85 and over are
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“Predicted Retirement Wave of Baby-Boomer Nurses Has Hit, AMN Healthcare Survey Shows,” PRNewswire “The long-predicted wave of retirements among Baby-Boomer nurses is already underway, new data suggests from the 2017 AMN Healthcare Survey of Registered Nurses released today. This news intensifies the growing crisis of healthcare workforce shortages, forewarned by recent projections from the US Bureau of Labor Statistics that there will be more than 600,000 job openings per year for healthcare practitioners and technical occupations over the next decade. ” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): A downside of anguishing over the oncoming age
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“Consider $2M: The Cost of Long Term Care For One Aging Parent,” by Carolyn Rosenblatt, Forbes “The Genworth study is a wake-up call that many people ignore, based on the difficulty of facing what no one likes to face: a lot of our body parts wear out over time and dementia can creep up and destroy our ability to manage our lives for good. This is not to suggest that everyone has to buy long term care insurance. That is a complex decision best made with competent professional advice (not from a sales person) and comparison of the numerous products
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“CMS overhaul of Medicaid may face legal challenges,” by Virgil Dickson, Modern Healthcare “The CMS will approve requests coming in from various states to impose work requirements on Medicaid enrollees, according to CMS Administrator Seema Verma. While only a handful of states have asked for waivers for the requirement, others could follow.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): If CMS will approve waivers to require the able-bodied to work to receive Medicaid, then it’s hopeful waivers to reduce the LTC home equity exemption or close other eligibility loopholes would pass muster too. CMS overhaul
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“‘Financial Caregiving’ Is Widespread and Expensive,” by Emily Zulz, ThinkAdvisor “While many aspects of caregiving have been previously studied, financial caregiving remains largely unexamined. A Merrill Lynch study, conducted in partnership with Age Wave — “The Journey of Caregiving: Honor, Responsibility and Financial Complexity” — finds that 92% of caregivers say they are also financial caregivers, performing at least one aspect of financial caregiving during their caregiving journey. . . . In fact, according to the report, after two years of receiving care, 88% of care recipients are no longer managing their finances independently.” LTC Comment (from Stephen A. Moses, President, Center
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