The ALS Group Risk Management Articles

Many Baby-Boomers have helped one or more of their parents with the difficult emotional and financial decisions related to long-term continuing care.  While Medicare covers skilled nursing care, it does not pay for continuing care in nursing homes or assisted-living facilities.  Nor does Medicare pay for home attendants, who provide personal care, such as bathing and dressing, which can easily cost $500 or more a day.  In response to their financial advisor’s recommendations and their involvement with their parent’s experience(s), many “Boomers” have purchased long-term care insurance to cover a significant percentage of these costs.

Many mid-market employers are becoming increasingly concerned regarding the rising costs of workers compensation coverage in the hardening insurance market.  These cost increases combined with uncertainty over the magnitude of cost increases related to implementation of the Patient Portability and Affordable Care Act (aka Obamacare) have employers scrambling to identify alternatives to reduce cost going forward.