Last month, Genworth, the biggest seller of long-term care insurance policies in the US, announced it was being acquired by a Chinese investor, China Oceanwide Holdings. I spoke with Genworth CEO Tom McInerney about the deal, the future of long-term care insurance, and the role of government in covering true catastrophic risk. Here is an edited version of our conversation. [...]
An important new national study finds that, after adjusting for age, Americans 65 and older are less likely to get dementia than in the past. The report, published in the Journal of the American Medical Assn (JAMA) confirms previous regional studies in the US as well as recent research in Europe. The reasons for this decline in prevalence of the [...]
During his presidential campaign, Donald Trump was largely silent on Medicare, though he often suggested he’d leave the program untouched. Not any more. It now looks as if Trump may push for major changes in the principal health care program for older adults and some younger people with disabilities. But what will he do? He has not said, but House [...]
The election of Donald Trump, along with continued Republican majorities in the House and Senate, will likely result in major cuts in federal programs that benefit older adults and younger people with disabilities. Some of the programs that could be targeted: Medicaid, important reforms in the way health care is delivered through Medicare, and services funded through the Older Americans [...]
There is no doubt that the widespread over-use of opiods has become a serious public health problem in the US. But I worry that older adults with palliative care needs may become unintended casualties of efforts to reduce the use and accessibility of these powerful drugs. The opiod problem is real. Nearly 30,000 Americans died from use of these drugs [...]
Genworth Financial, the largest seller of long-term care (LTC) insurance policies, has agreed to be acquired by a privately-held Chinese investment firm. At the same time, it announced it will reserve an additional $400 million to $450 million against future long-term care claims. The twin Oct 23 announcements are further indication of just how brutal the long-term care insurance business [...]
Medicaid long-term care is rapidly changing, and some of those trends may eventually remake the way all of us receive personal assistance as we age or become disabled. Nearly half of all states are now providing Medicaid long-term care benefits through managed care, and 13 states are requiring older adults to receive care that way. At the same time, four [...]
I helped care for my dad, who was dying of heart disease, for about 18 months. I was not even his primary caregiver. My mother and a home health aide took care of most if his-day-to-day needs. Yet, after he died, I was exhausted--worn out like I had never been before. Caring for an aging parent can be among the [...]
My friend Dan Timmel died last week. You probably didn’t know him. But if you are a frail older adult or a younger person with disabilities who is a Medicaid recipient, a family member of someone on Medicaid, or a taxpayer, you owe Dan a great debt. Dan was a senior career official on the Medicaid side of the Centers [...]
For the first time in 25 years the federal government has completed a comprehensive revision of the way it regulates nursing homes, where 1 million older adults and younger people with disabilities reside. The new regulations—all 700 pages worth—govern everything from staffing and dispute resolution to enhancing the role of residents and families in designing care. They’ll take effect in [...]