“Here’s one more way getting old is getting more expensive. Long-term care insurance, which covers expenses like nursing home care, at-home nursing care and other late-life needs, is fast becoming too costly for many retirees to afford, according to a recent study from LifePlans, an industry research firm. The average annual premium was $2,727 in 2015, an increase of 42% from 2005 and of 19% from 2010. Of those surveyed who were over 50 years old, 55% said they opted not to purchase coverage because it was too expensive.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care
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“Finding a way for to pay for long-term services and supports through Medicare for some residents of independent and assisted living communities, older adults served by Programs for All-inclusive Care for the Elderly and seniors living at home ‘would not only improve care but also lower the beneficiaries’ medical costs while also slowing expenditures from the public purse,’ said Bill Hoagland, a senior vice president at Bipartisan Policy Center, at the Tuesday release of a new report from the center. . . . The full report can be downloaded on the BPC’s website.” LTC Comment (from Stephen A. Moses, President,
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“The general public may think the cost of health care—and, by extension, the cost of senior living—is rapidly increasing, but that’s not true. In fact, senior living costs are rising at a slower rate than health insurance premiums, hospital service costs and recent home sale prices, according to the 2017 National Senior Living Cost Index from Seattle-based senior living referral service A Place for Mom. . . . The median cost of assisted living and memory care in the U.S. in 2016 was $3,740 per month and $4,664 per month, respectively. New York, Boston and Washington, D.C., were the top-three
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“At the recent AARP Innovations@50+ sold-out gathering of entrepreneurs and investors, Ken Dychtwald offered a mind-stretching glimpse into the longevity-based future and explored which industries, products and services will dominate the longevity marketplace – most of which are currently hiding in plain sight. After a brief presentation, he was joined by NBC’s Jean Chatzky for a candid and illuminating fireside chat about ageism, longevity and personal ups and downs in life’s second half.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Watch this half hour video, especially the first half, and emerge re-motivated. 04 13 17
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“Long term care insurance holds the distinction of being so different from other voluntary benefits offered by employers that it requires a different approach to selling to the workplace – one centered around education, multiple touch-points and a dedicated enrollment period.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Pointers for workplace sales. LTCi: Not Your Average Voluntary Benefit #goldencareagent
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“Acute shortages of home health aides and nursing assistants are cropping up across the country, threatening care for people with serious disabilities and vulnerable older adults. . . . The emerging crisis is driven by low wages — around $10 an hour, mostly funded by state Medicaid programs — and a shrinking pool of workers willing to perform this physically and emotionally demanding work: helping people get into and out of bed, go to the bathroom, shower, eat and participate in routine activities, often while dealing with challenging behaviors.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care
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“Residing in a senior living community can be less expensive than aging in place in a traditional home when all costs are considered, according to a new analysis. . . . For an older adult living in a $500,000 condominium . . . aging in place there can cost almost twice as much as residing in independent living and 36% more than living in an assisted living community.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): It should come as no surprise that aging in place in one’s own home without the economy of scale of
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