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January 29, 2011 Beginning this Spring, federal employees, retirees and their relatives, including same-sex domestic partners, will be able to apply for the government’s long-term care insurance option.
According to a Federal Register notice issued on Friday, the Office of Personnel Management (OPM) announced that open season for the Federal Long-Term Care Insurance Program will run from April 4 through May 27.
Active federal employees, their spouses and same-sex domestic partners who currently are not enrolled can apply under abbreviated underwriting rules and will have to provide only limited health information. Retirees and other qualified relatives will undergo a longer review of medical and health history in the application process.
“The federal long-term care insurance plan is excellent coverage and several hundred thousand individuals participate in the program,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance. The program does not offer certain discounts available from individual policies sold by insurance agents. “If you are married and in good health, you may be able to get more coverage for less cost,” Slome notes.
Same-sex domestic partners of federal workers for the first time will be able to enroll in the program, which helps pay for the cost of care when participants need help with daily activities, or have a severe cognitive illness such as Alzheimer’s disease.
OPM in June 2010 issued a final regulation broadening the definition of relatives qualified to participate in the long-term care insurance program to include the same-sex domestic partners of federal employees, U.S. Postal Service workers and retirees. Prior to the new rule, which took effect on July 1, 2010, only spouses, parents and adult children were eligible for coverage.
The expansion of coverage follows a June 2009 presidential memorandum asking that government do as much as it can legally to put same-sex domestic partners on equal footing with heterosexual married couples.
Coverage will begin on the first day of the month after an application is approved, and premiums will be based on the enrollee’s age and option selected, according to the notice.
Monday, January 31, 2011
Monday, January 24, 2011
Tests May Predict Alzheimer’s Disease
A scanning test that aims to reveal the presence of Alzheimer’s disease may allow doctors to try to treat the illness in its early stages.
According to researchers, another study found that blood tests could indicate higher risks of dementia later in life.
Alzheimer’s disease is not curable and existing treatments only have limited effects notes Jesse Slome, director of the American Association for Long-Term Care Insurance. Alzheimer’s is the leading cause of costly long-term care need among seniors.
The ability to precisely diagnose Alzheimer’s disease during life, which is now impossible, could lead to improved research.
The findings from the study were published Jan. 19 in the Journal of the American Medical Association. Currently, doctors correctly diagnose Alzheimer’s disease about 85 percent of the time. The illness can be confirmed only through brain analysis after death.
In one of the new studies, researchers led by a team from Avid Radiopharmaceuticals reported that they were able to find signs of Alzheimer’s disease by using PET scanning technology. They had scanned 35 people who appeared to have the disease before their deaths and looked for signs of beta amyloid, a kind of gunk that clogs the brain in people with the illness.
The other study attempted to measure levels of beta amyloid in the blood. It linked lower levels — a sign that the gunk is getting tied up in the brain — to higher cognitive problems in 997 elderly people over a nine-year period.
The researchers also found that people with higher levels of “cognitive reserve” — such as those with higher levels of education and literacy — seemed to be buffered against dementia, said the study’s lead author at the University of California, San Francisco.
According to researchers, another study found that blood tests could indicate higher risks of dementia later in life.
Alzheimer’s disease is not curable and existing treatments only have limited effects notes Jesse Slome, director of the American Association for Long-Term Care Insurance. Alzheimer’s is the leading cause of costly long-term care need among seniors.
The ability to precisely diagnose Alzheimer’s disease during life, which is now impossible, could lead to improved research.
The findings from the study were published Jan. 19 in the Journal of the American Medical Association. Currently, doctors correctly diagnose Alzheimer’s disease about 85 percent of the time. The illness can be confirmed only through brain analysis after death.
In one of the new studies, researchers led by a team from Avid Radiopharmaceuticals reported that they were able to find signs of Alzheimer’s disease by using PET scanning technology. They had scanned 35 people who appeared to have the disease before their deaths and looked for signs of beta amyloid, a kind of gunk that clogs the brain in people with the illness.
The other study attempted to measure levels of beta amyloid in the blood. It linked lower levels — a sign that the gunk is getting tied up in the brain — to higher cognitive problems in 997 elderly people over a nine-year period.
The researchers also found that people with higher levels of “cognitive reserve” — such as those with higher levels of education and literacy — seemed to be buffered against dementia, said the study’s lead author at the University of California, San Francisco.
Monday, January 17, 2011
Cancer Costs Will Soar
A new report predicts that by 2020, the annual cost of cancer care in the United States is expected to reach at least $158 billion.
According to the report from the U.S. National Cancer Institute that’s a 27 percent jump from 2010. The surge in cost will be largely driven by an aging population that is expected to develop more cases of cancer in the near-term.
Projected costs could go even higher if the price tag for care rises faster than expected. Experts described the 2020 cost estimate as “on the low side” according to the American Association for Long-Term Care Insurance which tracks medical and health issues impacting aging Americans.
Cancer is a disease of aging and the population of elderly Americans is expected to rise from 40 million in 2009 to 70 million by 2030 notes Jesse Slome, executive director for the trade group. Improvements in screening mean cancer is becoming more identifiable and treatable, but therapies are becoming increasingly expensive.
If the trend in survival and costs continue as they have been, then the estimates could be as high as $207 billion by 2020 one reseracher predicted. The report is published online Jan. 12 and in the Jan. 19 print issue of the Journal of the National Cancer Institute.
To estimate the cost of cancer treatment, the research team looked at data on 13 cancers in men and 16 in women. Tracking the rate of these cancers and the current costs to treat them in 2010, they were able to project costs in 2020.
In these calculations researchers assumed that costs would rise by only 2 percent a year. The largest increases in cost over the period will be for breast cancer at 32 percent and prostate cancer at 42 percent, simply because more people will be living longer with these diseases, the researchers noted.
For example, while the cost of treating breast cancer remains relatively low (compared to other tumor types), by 2020 this cancer will incur the highest costs — about $20.5 billion — since there are expected to be many more women living with the disease.
Commenting on the study, Elizabeth Ward, at the American Cancer Society, said that “a big component of the rise in cost is just the growth and aging of the population. We are just going to have more people developing cancer and under treatment for cancer,” she said.
According to the report from the U.S. National Cancer Institute that’s a 27 percent jump from 2010. The surge in cost will be largely driven by an aging population that is expected to develop more cases of cancer in the near-term.
Projected costs could go even higher if the price tag for care rises faster than expected. Experts described the 2020 cost estimate as “on the low side” according to the American Association for Long-Term Care Insurance which tracks medical and health issues impacting aging Americans.
Cancer is a disease of aging and the population of elderly Americans is expected to rise from 40 million in 2009 to 70 million by 2030 notes Jesse Slome, executive director for the trade group. Improvements in screening mean cancer is becoming more identifiable and treatable, but therapies are becoming increasingly expensive.
If the trend in survival and costs continue as they have been, then the estimates could be as high as $207 billion by 2020 one reseracher predicted. The report is published online Jan. 12 and in the Jan. 19 print issue of the Journal of the National Cancer Institute.
To estimate the cost of cancer treatment, the research team looked at data on 13 cancers in men and 16 in women. Tracking the rate of these cancers and the current costs to treat them in 2010, they were able to project costs in 2020.
In these calculations researchers assumed that costs would rise by only 2 percent a year. The largest increases in cost over the period will be for breast cancer at 32 percent and prostate cancer at 42 percent, simply because more people will be living longer with these diseases, the researchers noted.
For example, while the cost of treating breast cancer remains relatively low (compared to other tumor types), by 2020 this cancer will incur the highest costs — about $20.5 billion — since there are expected to be many more women living with the disease.
Commenting on the study, Elizabeth Ward, at the American Cancer Society, said that “a big component of the rise in cost is just the growth and aging of the population. We are just going to have more people developing cancer and under treatment for cancer,” she said.
Monday, January 10, 2011
Small Business Owners Unaware of Long-Term Care Tax Deductions
The majority of small and mid-sized business owners are not familiar with the tax deductible benefits available when offering long-term care insurance plan to employees. According to one insurance company executive, tax-deductible long-term care insurance remains the best-kept secret and employers are missing out on billions of dollars of potential tax savings.
Federal and a growing number of states now offer tax deductions and tax credits for the purchase of long-term care insurance. The cost of coverage may be fully tax deductible to the business and a great deal of flexibility can be offered when initiating a plan. In addition, corporate pricing breaks of 5 percent to 10 percent, in addition to substantial spousal or couples discounts, are the norm.
According to the 2009 edition of A Business Owner’s Guide To Long-Term Care Insurance, any form of business ownership can enjoy deductions for a long-term care insurance premium. Benefits received are, as a rule, always tax-free. Premiums might be considered imputed income to an employee depending on how the company is held.
Insurers offer various forms of long-term care insurance plans designed specifically to meet the needs of either small or large employers. Policies can be personally owned but company-paid, thus staying with the insured after he or she leaves a company or retires.
Long-term care insurance offers great design flexibility for employers. For example, employers can pick and choose who participates in a plan. Properly done, there are no ERISA issues, unlike group health insurance, according to tax experts. These plans are often called “carve-outs” which allow employers to be “selective” when determining who would be covered under a long-term care insurance benefit.
Policy design provisions enable employers to pay premiums for fixed periods of time, at which point the policy is paid up for life. One of the significant benefits is that policy benefit amounts keep increasing under inflation protection options with no risk of future long-term care insurance rate hikes.
According to American Association for Long Term Care Insurance experts, policies available to employers may allow two spouses to share one benefit pool. This has the potential to double the benefit any single insured might have and eliminates much of the problem as it pertains to the benefit period chosen. At the death of one spouse, the other typically inherits the other remaining benefits free of charge.
Federal and a growing number of states now offer tax deductions and tax credits for the purchase of long-term care insurance. The cost of coverage may be fully tax deductible to the business and a great deal of flexibility can be offered when initiating a plan. In addition, corporate pricing breaks of 5 percent to 10 percent, in addition to substantial spousal or couples discounts, are the norm.
According to the 2009 edition of A Business Owner’s Guide To Long-Term Care Insurance, any form of business ownership can enjoy deductions for a long-term care insurance premium. Benefits received are, as a rule, always tax-free. Premiums might be considered imputed income to an employee depending on how the company is held.
Insurers offer various forms of long-term care insurance plans designed specifically to meet the needs of either small or large employers. Policies can be personally owned but company-paid, thus staying with the insured after he or she leaves a company or retires.
Long-term care insurance offers great design flexibility for employers. For example, employers can pick and choose who participates in a plan. Properly done, there are no ERISA issues, unlike group health insurance, according to tax experts. These plans are often called “carve-outs” which allow employers to be “selective” when determining who would be covered under a long-term care insurance benefit.
Policy design provisions enable employers to pay premiums for fixed periods of time, at which point the policy is paid up for life. One of the significant benefits is that policy benefit amounts keep increasing under inflation protection options with no risk of future long-term care insurance rate hikes.
According to American Association for Long Term Care Insurance experts, policies available to employers may allow two spouses to share one benefit pool. This has the potential to double the benefit any single insured might have and eliminates much of the problem as it pertains to the benefit period chosen. At the death of one spouse, the other typically inherits the other remaining benefits free of charge.
Monday, January 3, 2011
New Study Ties Diet To Longer Life
According to medical researchers, today’s leading causes of death have shifted from infectious diseases to chronic diseases. These include cardiovascular disease and cancer.
Both of these illnesses may be affected by diet a study published in the January 2011issue of the Journal of the American Dietetic Association reveals.
Researchers examined data regarding the associations of dietary patterns with mortality through analysis of the eating patterns of over 2500 adults between the ages of 70 and 79 over a ten-year period. They found that diets favoring certain foods were associated with reduced mortality.
By 2030, an estimated 973 million adults will be aged 65 or older worldwide according to the American Association for Long-Term Care Insurance. This study sought to determine the dietary patterns of a large and diverse group of older adults, and to explore connections between these dietary patterns with survival over a 10-year period.
Researchers were able to group the participants into six different clusters according to predominant food choices including healthy foods, high-fat dairy products, meat, fried foods, and alcohol and sweets and desserts.
The “Healthy foods” cluster was characterized by relatively higher intake of low-fat dairy products, fruit, whole grains, poultry, fish, and vegetables, and lower consumption of meat, fried foods, sweets, high-calorie drinks, and added fat. The “High fat dairy products” cluster had higher intake of foods such as ice cream, cheese, and 2% and whole milk and yogurt, and lower intake of poultry, low-fat dairy products, rice, and pasta.
The study was unique in that it evaluated participants’ quality of life and nutritional status, through detailed biochemical measures, according to their dietary patterns.
After controlling for gender, age, race, clinical site, education, physical activity, smoking, and total calorie intake, the “High-fat dairy products” cluster had a 40% higher risk of mortality than the “Healthy foods” cluster. The “Sweets and desserts” cluster had a 37% higher risk. No significant differences in risk of mortality were seen between the “Healthy foods” cluster and the “Breakfast cereal” or “Refined grains” clusters.
Both of these illnesses may be affected by diet a study published in the January 2011issue of the Journal of the American Dietetic Association reveals.
Researchers examined data regarding the associations of dietary patterns with mortality through analysis of the eating patterns of over 2500 adults between the ages of 70 and 79 over a ten-year period. They found that diets favoring certain foods were associated with reduced mortality.
By 2030, an estimated 973 million adults will be aged 65 or older worldwide according to the American Association for Long-Term Care Insurance. This study sought to determine the dietary patterns of a large and diverse group of older adults, and to explore connections between these dietary patterns with survival over a 10-year period.
Researchers were able to group the participants into six different clusters according to predominant food choices including healthy foods, high-fat dairy products, meat, fried foods, and alcohol and sweets and desserts.
The “Healthy foods” cluster was characterized by relatively higher intake of low-fat dairy products, fruit, whole grains, poultry, fish, and vegetables, and lower consumption of meat, fried foods, sweets, high-calorie drinks, and added fat. The “High fat dairy products” cluster had higher intake of foods such as ice cream, cheese, and 2% and whole milk and yogurt, and lower intake of poultry, low-fat dairy products, rice, and pasta.
The study was unique in that it evaluated participants’ quality of life and nutritional status, through detailed biochemical measures, according to their dietary patterns.
After controlling for gender, age, race, clinical site, education, physical activity, smoking, and total calorie intake, the “High-fat dairy products” cluster had a 40% higher risk of mortality than the “Healthy foods” cluster. The “Sweets and desserts” cluster had a 37% higher risk. No significant differences in risk of mortality were seen between the “Healthy foods” cluster and the “Breakfast cereal” or “Refined grains” clusters.
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