I recently read an interesting article about PACE. Here is more information about the program.

PACE is an All-inclusive Care Program for the Elderly . The model is centered around the belief that it is better for the well-being of seniors with chronic care needs and their families to be served in the community whenever possible.

According to the National PACE Association, there are 16,000 participants in PACE nationwide. The average client is 80 and takes eight prescription medications. Participants have to be 55 or older, certified by their state to need nursing home care and be able to live safely in the community.

Each PACE program receives a fixed amount per person from a patient’s state Medicaid program — usually 85% to 90% of estimated nursing home costs. Medicare funds come through a risk-adjusted formula in which the program receives more for sicker enrollees. PACE becomes both the patient’s insurer and care provider and is obliged to pay for all of the patient’s medical care from the point of enrollment forward.

Services include:

Delivering all needed medical and supportive services, the program is able to provide the entire continuum of care and services to seniors with chronic care needs while maintaining their independence in their homes for as long as possible. 

Care and services include:

• Adult day care that offers nursing; physical, occupational and recreational therapies; meals; nutritional counseling; social work and personal care
• Medical care provided by a PACE physician familiar with the history, needs and preferences of each participant
• Home health care and personal care
• All necessary prescription drugs
• Social services
• Medical specialists such as audiology, dentistry, optometry, podiatry, and speech therapy
• Respite care
• Hospital and nursing home care when necessary

The benefits of PACE are that participants are supported by a coordinated medical team that the federal government hopes will cut costs and improve life for the elderly.

McCain’s top advisers this week said that as president, McCain would cut $1.3 trillion from Medicare and Medicaid. McCain adviser Douglas Holtz-Eakin told the Wall Street Journal, McCain would pay for the high costs of his health care proposal by taking a hatchet to health care coverage for the elderly, people with disabilities and lower-income families. A Center for American Progress study finds that McCain’s plan would force big cuts in benefits or eligibility for these vulnerable populations.

McCain’s call for radical cuts to Medicare and Medicaid will undermine their vital role in our health care system, putting affordable health care out of reach for millions of seniors, people with disabilities, and low-income families, and driving up the cost of health insurance for everyone else.

And why does the McCain campaign support undermining this pillar of retirement security? To pay for a “tax credit” in McCain’s health care plan that amounts to a subsidy for big insurance companies. (Maybe McCain thinks the $2 billion in tax cuts he would give the insurance companies isn’t enough.)

The Senate is likely to adopt a House version of an economic stimulus package that would infuse $14.7 billion into state Medicaid programs. 

While the House Friday passed its $60.8 billion stimulus bill, the Senate on Friday failed to pass its iteration, which would have given $19.6 billion in additional funds to state Medicaid programs. Still, even if the Senate approves the House bill, it may not pass. President Bush has vowed to veto the bills, saying they would do nothing to spur the economy and would only increase government spending.

Meanwhile, as of press time, the House failed to pass a $700 billion bailout package for the crippled financial sector. The House stimulus bill could actually become a “bargaining chip” between Congress and the president in negotiations over the bailout package, according to The New York Times.

Just when America was warming up to the idea of purchasing long-term care insurance to protect family assets from the devastating costs of custodial care, the three largest insurance companies have caused a stir in the market by raising prices on existing policies, not just on policies to be sold in the future.

Long-term care insurance policies are sold with the “assumption” of level premiums that won’t increase much over the years. That’s the incentive to buy when you are young, healthy, and prices are lower. Insurers have the right to go to state insurance commissioners to seek approval of a price increase on everyone who bought a certain policy, if claims significantly exceed expectations.

When insurers first created long-term care policies, it was hard to predict how their costs would turn out. But as insurers gained more experience in the last 10 years, it has been expected that the risk of price increases on the more recently issued policies would be slim and that any premium increases would be minimal.

Those who bought early to “lock in” lower prices are now being surprised by significant premium increases.

In the last year, Genworth requested increases ranging from 8 percent to 12 percent on some policies already owned by its customers. John Hancock announced a 14 percent increase in some policies in May. Nearly all of these policies were issued before 2000. But last week, MetLife announced it will raise annual premiums an average of 18 percent for policyholders who were younger than 70 when they purchased their policies from 1998 through 2005.

In effect, the insurers are admitting they made a pricing mistake. The only other explanation is that they priced policies artificially low to compete for business.

David Acselrod, MetLife vice president, long-term care and critical illness insurance, said: “Quite simply, we expect to pay out substantially more in claims than we originally anticipated. Some of the assumptions that drive LTCi pricing include policy lapses, interest rates, the number of people requiring care and the duration of care, to name a few. Following a review of our experience, we concluded that we had to make changes to ensure that we are pricing the products appropriately on behalf of all of our policyholders.”

Source:suntimes.com

I recently posted information about Life Insurance for Seniors and the benefits of having a policy. Many are nervous about investigating the options that are available due to costs. Don’t be! There are inexpensive options. You may want to get in touch with an Insurance company that can shop around for the best prices for your age and health. There are so many plans available you should find one to choose from. Ask family and friends if they have an agent they are happy with. This can help stear you in the right directon.

Why Buy Life Insurance as a senior?
Life insurance could be a great investment for senior citizens. If you have little or no savings with which to cover funeral costs, the expense will left to your family. If you have outstanding debts at the time of your death it will be taken out of your estate, or passed on to your loved ones. A seniors’ life insurance policy offers seniors a way to cover these costs without putting financial pressures on their survivors.

If you are a recipient of social security, you should consider that your spouse will only be receiving a portion of your social security income after your death. This may affect his or her standard of living; something you can protect against by purchasing a seniors’ life insurance policy.
 

How to Choose the right Life Insurance Policy.

With so many options their comes more complexity. You may not want to spend too much time searching for the perfect insurance policy. Consulting an insurance broker will give you access to expert advice and a wide variety of policies to consider.

You can find more information online to help find the right policy that meets your needs. I recommend searching in google for life insurance polcies for seniors. beware of scams. Choose a well known name that you can trust. Good Luck!

Mercury News.com reported today that a coalition of health care groups have filed a lawsuit against the state of California to prevent 10 percent cuts to Medi-Cal and Denti-Cal payments scheduled to begin July 1, 2008. There are more than 6 million low-income Californians that use Medi-Cal for health care services. The class-action lawsuit has been filed in The Los Angeles Superior Court on behalf of California health care providers. The complaint includes the California Medical Association, the California Hospital Association and the California Dental Association.

With the 2008 tax season getting strted, AARP is providing a tax aide program across southwest Ohio for seniors until April 10.Volunteers from AARP will be available for one-hour sessions at various locations throughout Butler County. Hopefully we will see this help all over the United States.

For more information, call 888-687-2277 or visit www.aarp.org/taxaide.

Top 5 Questions to ask when visiting a nursing home. These are Tips to Help!

1. What types of insurance will cover my loved ones stay? Don’t forget to ask this question! Some skilled nursing homes only accept Medicare! If you or your loved one has and HMO make sure they know!

2. Do you bill secondary insurance? You may find that nursing homes DO NOT BILL secondary insurance carriers. Be sure to ask before you admit a loved one.

3. Are there additional costs for a private room? Typically the answer is YES. Be sure to ask what the rate difference is before requesting a private room; it could be a lot more than you think.

4. Can I see your state survey report? Did you know that the state surveys nursing homes frequently? Ask if they have any deficiencies and if they passed their survey!

5. Are there RN’s here 24 hours per day? Did you know that not all nursing homes are required to have a Registered Nurse’s scheduled round the clock? Be sure to ask this, it could be critical for your loved one.

Medicare is a Health Insurance Program for:

• People 65 years of age and older.
• Some people with disabilities under age 65.
• People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant).

Medicare has Two Parts:

• Part A (Hospital Insurance) Most people don’t have to pay for Part A.
• Part B (Medical Insurance) Most people pay monthly for Part B.

Medicare offers you the ability to choose different services. Depending on where you live, you could have different choices. In most cases, when you first get Medicare, you are in the Original Medicare Plan after that you may want to consider a Medicare Prescription Drug Plan to add drug coverage to your health plan. You may also want to consider a Medicare Advantage Plan (like an HMO or PPO) that provides all your Part A, Part B, and often Part D coverage. You make a choice when you are first eligible for Medicare. Each year you can review your health and prescription needs and switch to a different plan in the fall.

As long as you have both Part A and Part B, items covered by Part A and Part B are covered whether you have the Original Medicare Plan, or you belong to a Medicare Advantage Plan (like an HMO or PPO). For more information see the Your Medicare Coverage database.