"For taxable years beginning in 2013, the term 'high deductible health plan' as defined in Section 220(c)(2)(A) means, for self-only coverage, a health plan that has an annual deductible that is not less than $2,150 and not more than $3,200, and under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits do not exceed $4,300."
"CalPERS counts about 150,000 state and local government workers in its long-term care insurance program, which pays for nursing and convalescent home stays.... Now CalPERS' staff has recommended a whopping rate hike of up to 85 percent and a lower-benefit, lower-cost alternative care plan."
"[A federal district judge in the Northern District of California], ruling in a state workers' lawsuit, said a federal statute outlawing gay marriage is unconstitutional to the extent that it bars same-sex spouses and domestic partners from enrolling in [the California Public Employees' Retirement System] Plan. The legislative record of the Defense of Marriage Act, which bars federal benefits to same-sex couples, shows evidence of anti-gay bias, and the act violates gay and lesbian couples'constitutional right to equal protection of the law, [the ruling states]. (Dragovich v. U.S. Treasury Department, 4:10-01564, N.D. Calif.)"
"Out of more than 313 million Americans, only about 8 million have any such protection, according to the American Association for Long-Term Care Insurance. The low participation rate largely reflects the high cost of long-term-care insurance.... Experts say the insurance can be a huge help, especially for people without children and relatively small retirement savings. But it's far from a perfect solution to all problems. For example, a policy typically covers three years of care, but many people live long beyond that cap. And the new policies are being written with more restrictions to limit insurers' risks." MORE >>
"While 45 percent expect health care to be their biggest expense throughout retirement, when asked to estimate how much they anticipate spending each year on health care, they said, on average, $5,621. This represents a drastic underestimation based on a 2010 study that estimates out-of-pocket health care expenses for a 65-year-old couple retiring today and living for 20 years to range from $250,000 to $430,000. That could mean as much as $10,750 a year per person in out-of-pocket health care expenses."
"Legislation that would allow a range of benefits for same-sex domestic partners of federal employees gained a boost last week with the announcement of 20 new Senate co-sponsors and the endorsement of 35 organizations.... In addition to health benefits, under the Lieberman/Collins Domestic Partnership Benefits and Obligations Act, same-sex domestic partners of federal workers living together in a committed relationship could get retirement, family and medical leave and long-term care benefits."
The question of whether to get long-term care insurance bedevils consumers and their advisers. Unlike medical insurance, it is intended primarily to cover people who need assistance with so-called activities of daily living[.]
According to Northwestern Mutual's 'Cost of Long-Term Care Study,' while the costs vary widely based on location and type of care, the study shows that the national average daily rate for a single occupancy, private nursing home room is $246.06 per day, or almost $90,000 for one year of care.
What can those who were likely to benefit from the CLASS Act do now to pay for their current or anticipated long-term-care needs? How can the country deliver and finance long-term-care for its rapidly aging population? What role will providers play as Medicare and Medicaid payments are cut?
This market survey, conducted in conjunction with LifePlans, Inc., contains daily private-pay rates for private and semi-private rooms in licensed nursing homes, monthly base rates for assisted living communities, hourly rates for home health aides from licensed agencies and agency-provided homemaker companion services, and daily rates for adult day services across the United States.
After looking at a variety of options, the Obama administration determined the CLASS Act program could not simultaneously meet three important criteria: be self-sustaining, financially sound for 75 years and affordable to consumers.
[HHS] has promised to release in mid-October a detailed analysis of what can be done to shore up the program's financial structure, based on a review of legal and actuarial reports.
The Repeal CLASS Working Group is comprised of Republican leadership in both the House and Senate charged with overseeing implementation of the new health care law. In mid-September, the group released a report apparently detailing the insolvency of the CLASS Act.
News outlets report on these health law implementation topics, including news that some advocates say the Obama administration's upcoming release of an analysis of the CLASS program is a positive sign. Meanwhile, the Institute of Medicine is expected to unveil its recommendations for medical coverage standards next week.
This round-up of health law implementation news also includes a report that the comment period for state health exchanges has been extended and news that Catholic organizations have stepped-up their opposition to the measure's requirement that contraceptive services be covered.
Long-term care expenditures constitute one of the largest uninsured financial risks facing the elderly in the United States. This paper provides an overview of the economic and policy issues surrounding insuring long-term care expenditure risk. Through this lens we also discuss the likely impact of recent long-term care public policy initiatives at both the state and federal level.
The health law's long-term care program, which has faced concerns about its fiscal sustainability, appears at risk following reports that the HHS office overseeing it faces a key staff reduction.
54 pages. "In this report, GAO describes [1] factors affecting carriers' interest in FLTCIP, [2] how the actuarial assumptions used to set FLTCIP premiums have changed since the program's inception, and [3] OPM's oversight of actuarial assumptions and experience and program communications." [GAO-11-630, published Jul. 11, 2011, released Aug. 10, 2011]
Modern medicine now allows people to manage chronic conditions for decades. But the AARP study finds increasingly complicated procedures are routinely expected of family caregivers.
HHS recently released FAQs relating to the CLASS program, a long-term care program established by PPACA. The FAQs address, in very general terms, who will be eligible to enroll in and receive benefits under the program, what benefits the program may or must offer, and the employer's role in the program.
Most Americans will eventually need long-term care, which is often expensive and not usually covered by public programs until care recipients have nearly exhausted their savings. Yet, relatively few Americans purchase private long-term care insurance, exposing many families to potentially high out-ofpocket costs.
With October 1, 2012 as the 'go live' date set by [PPACA] for the new government-administered Community Living Assistance Services and Supports ... Program, a set of Frequently Asked Questions was released by [HHS], while hearings were held by a House of Representatives subcommittee regarding the sustainability of the program.
Specifically, the study measures attitudes towards and knowledge of long-term care insurance among Americans. The survey also explores concerns about needing extended care services, confidence in being able to pay for such services in the future, perceived methods of funding the expenses associated with long-term care, and the misperceptions about and barriers to purchasing long-term care insurance.
Excerpt: California is the only state in the U.S. that has gone the self-funded route for its public employee long-term care benefit plan. And that makes some officials very nervous. MORE >>
Excerpt: The Principal Financial Group presents the 2010 winners of The Principal 10 Best Companies for Employee Financial Security. The independent panel of judges -- all experts in employee benefits -- cited the winners for their level of commitment to strong benefits -- even during difficult economic times.
