“An Alaska man developed gangrenous toes. A Philadelphia woman froze to death on the street. An Illinois woman died emaciated, covered in excrement. These patients suffered as their government-paid caretakers neglected them, collecting paychecks under a Medicaid program that gives elderly and disabled people non-medical assistance at home. In some cases, the caretakers convicted of neglect were the victims’ own family members. The Personal Care Services program, which exceeded $14.5 billion in fiscal year 2014, is rife with financial scams, some of which threaten patient safety, according to a recent report from the Office of lnspector General at the U.S.
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“Senate Finance Committee staff have issued a draft of legislation to address chronic care issues (PDF), which includes asking for a report to Congress to inform the development of a Medicare payment code for creating a long-term care plan for a beneficiary diagnosed with a life-threatening illness such as Alzheimer’s disease.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): One more step in the direction of expanding Medicare to cover long-term care. Senate Committee Floats Idea of New Medicare Code for Alzheimer’s Planning #goldencareagent
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“There are some useful tips in Painter’s report. Check them out.  Because many people think their long-term care plan is just having money or a long-term care insurance policy. But who will manage getting the benefits under the insurance plan if you can’t? Who do you trust to help with your finances? Who will oversee both your money and care if you’re incapacitated?” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Does LTCI have your six? Aging alone: If you’re a single, childless senior who has your back? #goldencareagent
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“One insurer with an active long-term care insurance unit and one with a large closed block of long-term care insurance business have given a little information about their operations in recent earnings reports.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Some interesting tidbits. CNO and CNA open blinds on LTCI performance #goldencareagent
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“The Lincoln study surveyed 500 people between the ages of 40-70, and found that of those with a financial advisor, only 45 percent have discussed long-term care with their advisor, and only few were aware of the wide range of solutions available to help address the potential financial impact of long-term care.  …  For additional findings from Lincoln’s “2016 Long-Term Awareness Study,” please view this presentation at Lincoln’s website.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Not exactly news, but further evidence of financial advisors’ remissness regarding LTC risk and cost. Majority of Consumers Nearing
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