The New York Times (free registration) reports that Congress is putting the long term care insurance industry “under scrutiny.†The House Committee on Energy and Commerce is investigating long term care insurers Conseco and the Penn Treaty American Corporation. It seems that certain long term care insurers are making policyholders jump through hoops to have their claims paid. Congressman John Dingell of Michigan told the paper that “We have two companies that seem to be engaging in … [Read more...] about Congress Investigates Long Term Care Insurers
Search Results for: baby boom
Long Term Care Financing
The Kaiser Foundation has updated its issue module on financing long term care. According to Kaiser, about 9.5 million Americans need long term care, and with the first of the baby boomers ready to retire, the number will increase. By 2030, the number of long term care recipients will double. Kaiser estimates that over $158 billion was spent on long term care in 2004, and the average yearly cost of nursing home care is $74,000. Medicaid pays for most long term care, but recipients pay … [Read more...] about Long Term Care Financing
DOL Announces Grants for Long Term Care Industry
The Department of Labor (DOL) announced that it will spend more than $43 million dealing with shortages in the health care industry, including long term care. (Source) On several occasions, I’ve blogged about the shortage of nurses and geriatric physicians. As baby boomers retire and age, many will need long term care, which will put pressure on an industry already faced with worker shortages. Ironically, baby boomer retirement is linked to shortages among long term caregivers. DOL and … [Read more...] about DOL Announces Grants for Long Term Care Industry
Few Legal Protections for Home Health Workers
An Iowa University law professor conducted a study of home health care workers and found that they have few legal protections. (Medical News Today) It’s more difficult to regulate employment inside a private home, and home health care workers don’t seem to be a high priority for agencies like the Occupational Safety and Health Administration. Once again, soon-to-be retiring baby boomers will set the tone of the debate. According to the article, home health care is a fast growing … [Read more...] about Few Legal Protections for Home Health Workers
Medicaid Report and Issue Brief
Last month, a federal advisory panel called the Medicaid Commission released a report with recommendations to prevent Medicaid from going bankrupt. Once again, it’s all about the baby boomers, and once again, Republicans and Democrats are split on the issue. (The Kaiser Network) The Bush administration wants to implement changes intended to save money in the long run, while the new Democratic Congress likely will resist the recommended changes. The report has not been posted … [Read more...] about Medicaid Report and Issue Brief
‘Cultural Transformation’ in the Long Term Care Industry
I’ve blogged about the impending retirement of waves of baby boomers before. It’s a hot topic in the health care industry, which will need to adjust to the influx of Americans who’ll need long term, and sometimes specialized care. A bipartisan committee called The National Commission for Quality Long-Term Care, co-chaired by former U.S. Sen. Bob Kerrey and former House Speaker Newt Gingrich, will release a report that will guide the industry and help it prepare for new patients and new … [Read more...] about ‘Cultural Transformation’ in the Long Term Care Industry
More News About Nursing Shortage
The nursing shortage is so critical that someone graduating with only a two-year nursing degree has his/her choice of nursing jobs at relatively high salaries. The average starting salary for RNs is $56,000. The New York Daily News featured a story on the nursing job market and cited statistics from the Bureau of Labor Statistics and the American Nurses Association. The average nurse is 50 years old, and nursing schools have had to turn away students because there weren’t enough faculty to … [Read more...] about More News About Nursing Shortage
Medicaid News Roundup
In an effort to recoup money paid in Medicaid services, Tennessee’s Medicaid program will increase its efforts to go after beneficiaries’ estates. (Kaiser Network) As more retiring baby boomers start receiving Medicaid services, I suspect more states will follow Tennessee’s lead. In other Medicaid news, a radio program called Marketplace Morning Report examined Missouri’s Medicaid program and found that it went from being one of the best in the country to one of the worse. Over … [Read more...] about Medicaid News Roundup
Geriatric Doctors In Short Supply
The long term care insurance industry is not the only one that will feel the aging baby boomer surge. Geriatric physicians are in short supply, an imbalance that will become more obvious as baby boomers retire and require specialized treatment. (New York Times - free registration required) Geriatrics is not a popular specialty in medical schools, and the fact that geriatric medicine doesn’t pay as well as other specialties means there’s no economic incentive to choose to focus on … [Read more...] about Geriatric Doctors In Short Supply
Over 41,000 Qualified Nursing School Applicants Rejected in 2005
Nursing schools had to turn away over 41,000 qualified applicants in 2005 because there weren't enough faculty to teach. This is an unfortunate trend because of the overall nursing shortage nationwide. According to USA Today, 7.9 percent of faculty positions at nursing schools remain unfilled, and the Department of Health and Human Service reports that the 10 percent RN vacancy rate will increase to 36 percent by 2020. In July, I blogged about the high turnover rate in health care jobs and … [Read more...] about Over 41,000 Qualified Nursing School Applicants Rejected in 2005
