“Something unusual happened last month: A good-size American insurer, Penn Treaty of Allentown, Pa., was ordered to liquidate and wind down its affairs. Its demise will orphan tens of thousands of policyholders — people who bought its long-term-care insurance to shield their families from crushing nursing home costs.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Not to beat a dead horse, but this story is in the New York Times so merits notice as so many will read it. Policyholders in Limbo After Rare Failure of Insurer #goldencareagent
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“A rose by any other name may smell just as sweet, but when it comes to a home equity loan, one that is labeled ‘reverse mortgage’ just plain stinks. That’s the conclusion of new research released Wednesday by the National Council on Aging (NCOA), a nonprofit advocacy group supporting older adults. Like it or not, finding ways to unlock home equity may hold the key to retirement security for many aging baby boomers.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): What a strange opening sentence for an article singing the praises of reverse mortgages. RMs
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“The U.S. nursing home business faces daunting economic and policy challenges as it moves toward a massive wave of baby boomers aging into infirmity, according to a gathering of industry executives at the University of Pennsylvania’s Leonard Davis Institute of Health Economics (LDI). Convened to gather raw material for a formal report on suggested reforms for the Centers for Medicare and Medicaid Services (CMS), the National Summit on the Future of America’s Nursing Home Industry focused on the changing demographics, reimbursement models, clinical practices, and government rules of elder care facilities. Keynote speaker and Summit organizer, John Whitman’s opening ‘State
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“The full dimensions of the GOP’s self-defeat on health care will emerge over time, but one immediate consequence is giving up block grants for Medicaid. This transformation would have put the program on a budget for the first time since it was created in 1965, and the bill’s opponents ought to be held accountable for the rising spending that they could have prevented.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Alas, this editorial in today’s WSJ print edition pretty much nails the most significant consequence of the American Health Care Act’s defeat. Medicaid will continue
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“Living alone can be tough for seniors. Some don’t have family nearby to check on them, and they worry that if they fall or suffer a medical emergency and can’t get to the phone to seek help, no one will know. That’s why hundreds of police agencies in small towns, suburbs and rural areas across the country are checking in on seniors who live alone by offering them a free automated phone call every day. . . . The check-in programs are less common in big cities, where large numbers of people might sign up, potentially straining budgets because more
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