LTC Bullet: LTCI News and Information

Tuesday, October 19, 2010

Seattle--

LTC Comment: Lots going on related to long-term care insurance and related subjects, so today's LTC Bullet is all ***news.***

*** STEVE MOSES will present a paper titled "The CLASS Act and the Future of Long-Term Care Financing" at the Society of Actuaries "Living to 100 Symposium" in Orlando, Florida on Wednesday, January 5, 2011. The conference runs from Jan. 5 to 7 and includes a wide range of presentations on all aspects of international aging. Find the details including how to register here. If you would like to book Steve immediately before or after this event, anywhere in the country, simply contact the Center at 206-283-7036 or info@centerltc.com. ***

*** SOA THINK TANK report published. Immediately after the most recent Intercompany LTC Insurance Conference (10th Annual, New Orleans, March 2010), the Society of Actuaries sponsored an invitation-only "Long Term Care Think Tank Session" they called "LTCi: from Hope to Change." Leading lights from the long-term care insurance industry convened and spent most of a day discussing challenges and issues. You can read the report here and view keynoter Anna Rappaport's slides here. ***

*** THE 11th ANNUAL ILTCI CONFERENCE will take place next year in Atlanta, Georgia, March 6 to 9, 2011 at the Marriott Marquis. Check here frequently as keynoter, agenda, and registration information are coming in November. For now, just get this important convocation on your calendar so you don't book over it. Unparalleled networking. ***

*** WSJ ARTICLE RE LTCI: "Facing the Future: When it comes to accepting the need for long-term care down the road, many opt for denial," by Russ Banham, October 14, 2010. This is actually a "special advertising section" by the Lincoln Financial Group with links to a "LTC Insurance Policy Checklist" and a frequently asked questions list "FAQ: Tax Benefits of LTC Insurance." Special thanks to Center member and supporter Patty Francisco of Strommen Francisco in Duluth, MN for this tip. ***

*** GAP INDEX published by the Centers for Strategic and International Studies. The "Global Aging Preparedness [GAP] Index" provides the first comprehensive quantitative assessment of the progress that countries worldwide are making to prepare for global aging, and particularly the old-age dependency dimension of the challenge. Details here. Read the authors' Op-Ed on the GAP Index that appeared October 13, 2010 in the International Herald Tribune here. Check both out. These authors invariably do excellent work. ***

*** MUCH LTCI MEDIA ADO ABOUT NOTHING. According to "LifePlans: LTC Carriers Botch Few Claim Denials" by Trevor Thomas in National Underwriter Online (10/11/2010): "Researchers say they could find few examples of private long term care (LTC) insurers wrongly denying claims. The researchers, at LifePlans Inc., Waltham, Mass., a unit of Munich American Reassurance Company, Atlanta, have reported that finding in an LTC insurance claim determination review that was delivered in April and commissioned by the U.S. Department of Health and Human Services (HHS)." So much for alleged abuses blown out of proportion by the New York Times and Congress some time ago. ***

*** LTCI PARTNERSHIPS. Want to know which states are doing what with LTC Partnerships? Check out "States That Offer Long-Term Care Partnerships," by Kimberly Lankford, Contributing Editor, Kiplinger's Personal Finance. You'll find links to information on 21 states' programs. Fair warning though, I checked the California link and found nothing about that state's LTC Partnership program's problems which were described to me thus in recent interviews for the Center's LTC financing study in the "Golden State": "Dead in the water and going to get deader. New companies can't get policies approved. With five percent compound inflation mandated, the product cannot be made affordable. The old structure of Partnership plans cannot be saved, but officials are afraid to change the rules. They've missed the market. Change or die." ***

*** PHYLLIS SHELTON NAILS CHRISTIANE AMANPOUR for the erroneous claim on an ABC Alzheimer's special that the USA has no long-term care insurance or strategy. Get the details and Shelton's rebuttal here. ***

LTC Comment: Momentum is building for a political sea change driven by the Age Wave, the entitlement crisis, and politico-economic malpractice. Get ready for a tumultuous period that will make the build up to DRA '05 look like child's play. This is America's last chance to fix LTC financing before the bottom falls out. Stay tuned. We'll keep you informed--in the front row and on the edge of your seat as the drama unfolds. And expect your Center for Long-Term Care Reform to be in the thick of things educating and advocating for rational LTC public policy.