Trustmark Mutual Holding Co.
09/19/2024 | News release | Distributed by Public on 09/19/2024 08:47
Care takes: The Legislator
By: Frank Morang, Regional Sales Manager, Empire - Brett Daniel, Regional Sales Director, Mountain - Kelly Marcus, Regional Sales Director, Capital Region
Frank
Over the course of this series, Kelly, Brett, and I have discussed most of the primary perspectives on the care crisis (as it relates to the benefits industry). When discussing how we wanted to approach this series, we decided that it was only right to save the most impactful for last. That is why our final perspective considers the role of arguably the biggest current influencers in this conversation-the legislators.
When the WA Cares fund passed in Washington state, it caused a wave of interest across state lines. From California, to New York, red and blue states, it became apparent to many of us in the industry that the care crisis was on the minds of legislators across the country-and that the landscape of LTC benefits could quickly change. But it begged a few questions: Do legislators truly understand the details and impact of the care crisis to both their constituents and their state budgets? Are they well informed about the large Medicaid LTC spend that is soon to impact their state budgets? What do they think about the Medicaid spend on LTC in their state? Are they for (or against) legislation, public or private solutions, or a combination of both?
While we can't definitively answer these questions for you, we can certainly provide context that can help you draw your own conclusions about how state legislators are approaching the subject of LTC. First, I'll pass it off to Kelly to discuss what legislators do and what's driving LTC conversations.
Kelly
What is the legislator's role?
At a high level, the job of a state legislator is to create, debate, and pass laws at the state level to address a variety of state-specific issues (like education, public health and safety, transportation, etc.). Their other primary responsibilities include serving as members of select committees and budgeting for various programs and services they are looking to implement or repeal.
What's driving legislative conversations?
While some state legislators are aware of the growing need for LTC, many only have some awareness of the growing impact of LTC and the care crisis. In many states, including California, Michigan, and Texas, state legislators have been (or are in the process of) conducting LTC studies to which can help inform their decisions about how they can impact LTC solutions in their respective states. many legislators are looking to better understand the costs associated with implementing LTC related legislation (like the WA Cares Act). Through education and understanding of the care crisis, legislators can make informed and impactful decisions about potential solutions.
States and their decisionmakers are often balancing the many needs and priorities of their states which could include budgetary limitations or the impact of an upcoming election Or, if they have started, they'd likely be put on back burner for other legislative issues that are trendier than LTC and politically motivated.
You might be thinking, "shouldn't legislators be focused on the needs rather than what's trending?" Brett will help answer why it's a bit more complicated than that.
Brett
The industry will benefit from being PROACTIVE
Legislators are public figures often subject to feedback and even criticism about their effectiveness and are constantly faced with the challenge of balancing the many needs and priorities of the community that they serve. In the instance of Washington state, some legislators saw LTC and The WA Cares Act as an opportunity for their states to cut growing Medicaid spend.
I bring up The WA Cares Act again because-while we can't say for certain that legislators do or do not care about solving the care crisis-what we can say is that they care greatly about maintaining state budgets and are highly reactive to issues causing budgetary concerns.
In theory, legislators can be very effective if they can be equally reactive and proactive, but the legislative process itself is often slow and cumbersome. When immediate change is needed, it can create a legislative environment where immediate concerns overshadow proactive initiatives like LTC legislation.
Legislators are also often forced to focus on other state-wide issues that are impacting budgets and may not have the room to pursue LTC legislation as a priority, even if they do care about the issue. So, with all the issues and priorities that legislators are often juggling, we encourage you (brokers and producers) to be the proactive advocate when it comes to the care crisis-because waiting for legislation isn't the answer.
We've discussed in our previous blogs why there are wants and needs now from consumers and employers to have LTC protection (whether it's publicly or privately funded). And we've seen that the more proactive brokers are looking to get ahead of potential legislative decisions by helping consumers purchase policies that meet the needs of today and their future. So, it's critical that we collectively address those needs AND continue to educate others on the value of LTC solution in the market.
It's a win-win for everyone involved and eliminates the need for legislation to pass to make a difference in the lives of those we serve.
Frank
If there is anything you can take from this series, we hope it's that education can help spearhead conversations and encourage people to get the care solutions they need before it's too late. Acquiring more knowledge empowers all those impacted by the care crisis to make informed decisions, advocate for better policies, and ensure that resources available to consumers are used efficiently and effectively.
As we all continue to navigate the complexities of the LTC challenge, let's recognize that legislators are not able solve this issue on their own. Let's commit to continually educating ourselves and engage in meaningful dialogue with employers, legislatures, and industry experts to all play a part in transforming the LTC landscape.
Together, we can champion the cause of LTC education and make a meaningful difference in the lives of those we serve.
To stay up to date on other important LTC legislative updates from Trustmark Voluntary Benefits, be sure to follow us on our LinkedIn and X.
VIEW PREVIOUS INSTALLMENTS:
Frank
Over the course of this series, Kelly, Brett, and I have discussed most of the primary perspectives on the care crisis (as it relates to the benefits industry). When discussing how we wanted to approach this series, we decided that it was only right to save the most impactful for last. That is why our final perspective considers the role of arguably the biggest current influencers in this conversation-the legislators.
When the WA Cares fund passed in Washington state, it caused a wave of interest across state lines. From California, to New York, red and blue states, it became apparent to many of us in the industry that the care crisis was on the minds of legislators across the country-and that the landscape of LTC benefits could quickly change. But it begged a few questions: Do legislators truly understand the details and impact of the care crisis to both their constituents and their state budgets? Are they well informed about the large Medicaid LTC spend that is soon to impact their state budgets? What do they think about the Medicaid spend on LTC in their state? Are they for (or against) legislation, public or private solutions, or a combination of both?
While we can't definitively answer these questions for you, we can certainly provide context that can help you draw your own conclusions about how state legislators are approaching the subject of LTC. First, I'll pass it off to Kelly to discuss what legislators do and what's driving LTC conversations.
Kelly
What is the legislator's role?
At a high level, the job of a state legislator is to create, debate, and pass laws at the state level to address a variety of state-specific issues (like education, public health and safety, transportation, etc.). Their other primary responsibilities include serving as members of select committees and budgeting for various programs and services they are looking to implement or repeal.
What's driving legislative conversations?
While some state legislators are aware of the growing need for LTC, many only have some awareness of the growing impact of LTC and the care crisis. In many states, including California, Michigan, and Texas, state legislators have been (or are in the process of) conducting LTC studies to which can help inform their decisions about how they can impact LTC solutions in their respective states. many legislators are looking to better understand the costs associated with implementing LTC related legislation (like the WA Cares Act). Through education and understanding of the care crisis, legislators can make informed and impactful decisions about potential solutions.
States and their decisionmakers are often balancing the many needs and priorities of their states which could include budgetary limitations or the impact of an upcoming election Or, if they have started, they'd likely be put on back burner for other legislative issues that are trendier than LTC and politically motivated.
You might be thinking, "shouldn't legislators be focused on the needs rather than what's trending?" Brett will help answer why it's a bit more complicated than that.
Brett
The industry will benefit from being PROACTIVE
Legislators are public figures often subject to feedback and even criticism about their effectiveness and are constantly faced with the challenge of balancing the many needs and priorities of the community that they serve. In the instance of Washington state, some legislators saw LTC and The WA Cares Act as an opportunity for their states to cut growing Medicaid spend.
I bring up The WA Cares Act again because-while we can't say for certain that legislators do or do not care about solving the care crisis-what we can say is that they care greatly about maintaining state budgets and are highly reactive to issues causing budgetary concerns.
In theory, legislators can be very effective if they can be equally reactive and proactive, but the legislative process itself is often slow and cumbersome. When immediate change is needed, it can create a legislative environment where immediate concerns overshadow proactive initiatives like LTC legislation.
Legislators are also often forced to focus on other state-wide issues that are impacting budgets and may not have the room to pursue LTC legislation as a priority, even if they do care about the issue. So, with all the issues and priorities that legislators are often juggling, we encourage you (brokers and producers) to be the proactive advocate when it comes to the care crisis-because waiting for legislation isn't the answer.
We've discussed in our previous blogs why there are wants and needs now from consumers and employers to have LTC protection (whether it's publicly or privately funded). And we've seen that the more proactive brokers are looking to get ahead of potential legislative decisions by helping consumers purchase policies that meet the needs of today and their future. So, it's critical that we collectively address those needs AND continue to educate others on the value of LTC solution in the market.
It's a win-win for everyone involved and eliminates the need for legislation to pass to make a difference in the lives of those we serve.
Frank
If there is anything you can take from this series, we hope it's that education can help spearhead conversations and encourage people to get the care solutions they need before it's too late. Acquiring more knowledge empowers all those impacted by the care crisis to make informed decisions, advocate for better policies, and ensure that resources available to consumers are used efficiently and effectively.
As we all continue to navigate the complexities of the LTC challenge, let's recognize that legislators are not able solve this issue on their own. Let's commit to continually educating ourselves and engage in meaningful dialogue with employers, legislatures, and industry experts to all play a part in transforming the LTC landscape.
Together, we can champion the cause of LTC education and make a meaningful difference in the lives of those we serve.
To stay up to date on other important LTC legislative updates from Trustmark Voluntary Benefits, be sure to follow us on our LinkedIn and X.
VIEW PREVIOUS INSTALLMENTS: