Articles

Medicaid and long-term care planning

Posted by on Jun 27, 2014 in Long-Term Care Insurance, Long-Term Care Planning | 0 comments

Many advisors when discussing long-term care insurance will get the push back from clients of, “I plan to go on Medicaid”. While that seems like a good money saving option while clients are healthy and working it could be a decision that clients may later regret. Many states are looking at cutting Medicaid all together because of the cost and budgetary constraints. “One-third of elderly Medicaid enrollees used long-term care services, but they accounted for 86 percent of all Medicaid spending on the elderly”  (Sadler, 2014). With the uncertainty of Medicaid and the fact that it puts clients at the will of the “system” many of their decision making opportunities such as which facility they would like care from and if they would like a roommate or not will be stripped. Jeff Sadler wrote, 4 things to know about Medicaid, long-term care. This is a great article to begin discussion with any client, employer or individual about the importance of long-term care planning and the potential future of...

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A refresher on using a HSA to pay for LTCi premium

Posted by on Jun 27, 2014 in Long-Term Care Insurance, Long-Term Care Planning | 0 comments

Do your clients offer HSAs to their employees? If so, the IRS considers tax-qualified LTCI premiums a qualified medical expense That means that an individual (W2 employee) may withdraw money tax-free from their HSA to pay for standalone LTC Insurance. To learn more vist these resources: Resource #1 – Using HSA to pay for LTCi premium (Genworth) Resource #2 – Using HSA to pay for LTCi premium...

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The Sandwich Generation

Posted by on Jun 27, 2014 in Articles | 0 comments

The sandwich generation currently has increasing responsibilities at home which could be a cause for a decrease in productivity at the workplace. In fact, according to a 2013 research study conducted by Pew Research, they found that “Nearly half (47%) of adults in their 40s and 50s have a parent age 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older)” (Pew Research 2013). This sandwich generation is currently working and because of their unique situation they understand the importance of long-term care insurance. Since this is such a large part of the employer population, long-term care insurance is a beneficial benefit to offer employees because their education process has already begun first hand. Pew Research put together and infographic with addtional information about the sandwich generation View the...

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Winter 2012 Newsletter

Posted by on Mar 6, 2012 in Newsletter | 0 comments

Download our Winter 2012 newsletter here – MS Consulting Winter 2012 Newsletter

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The Phony CLASS Act Scandal

Posted by on Sep 19, 2011 in Employee Benefit | 0 comments

Forbes — http://www.forbes.com/sites/howardgleckman/2011/09/16/the-phony-class-act-scandal/

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How the Bay Area can afford old age

Posted by on Sep 19, 2011 in Employee Benefit | 0 comments

San Francisco Bay Area — http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/15/EDQD1L44TR.DTL

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Health-Care Law’s LTC Program Unsustainable, Republicans Say

Posted by on Sep 19, 2011 in Employee Benefit | 0 comments

AdvisorOne — http://www.advisorone.com/2011/09/15/health-care-laws-ltc-program-unsustainable-republi

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Few Texans Getting Long-Term Care Insurance

Posted by on Sep 19, 2011 in Employee Benefit | 0 comments

In a column in the Fort Worth Star Telegram (9/16), Teresa Mcusic writes Texas “is having a tough time” on enrolling people in its three year old “long-term care insurance partnership program that help buyers protect assets if they need to apply for Medicaid,” with only 10,443 partnership policies sold through the end of last year. “Texans are not generally buying policies with this benefit in mind.” At issue can be the premium costs, which “aren’t cheap,” or “finding coverage” due to “aggressive underwriting health qualifications that can be difficult for many to meet.” Full article...

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Report Elicits Renewed Criticism Of CLASS Program

Posted by on Sep 19, 2011 in Employee Benefit | 0 comments

Politico (9/16, Kenen) says, “A new report adds fresh details to the conventional wisdom that a new long-term care insurance program is fiscally out of whack — but there’s also widespread agreement among experts that there are lots of ways to try to fix it.” The data, released by congressional Republicans, “lambasted” the Community Living Assistance Support and Stability (CLASS) “program as a boondoggle that Democrats rammed through Congress during health reform while knowing full well it would be a fiscal time bomb.” Politico notes that HHS Secretary Kathleen Sebelius has stated that “the law — modified after the summer of 2009, the starting point for the Republican report — gives HHS the power to make changes, and set premiums, so that the program can be made to work.” The Washington Post (9/16, Kliff) “Wonk Blog” reports that recently released emails show the concern “over the CLASS Act’s financial stability. The long-term insurance program relies on voluntary enrollment.” Should “only a small group of unhealthy people — those who anticipate using the services — sign up, the program could quickly destabilize.” Full Article...

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CLASS Act Report

Posted by on Sep 19, 2011 in Employee Benefit | 0 comments

http://energycommerce.house.gov/media/file/pdfs/class/classuntoldstoryreport.pdf

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