Financial services firms traditionally focus on how we save and invest our money or insure ourselves against risk. Now, happily, they are beginning to think about how we spend our assets, especially in old age. And that includes long-term care and health care costs. Their focus on what the biz calls “accumulation” is no surprise. After all, they get paid [...]
Life expectancy for older adults has increased dramatically in recent years. But do more years in old age mean more time struggling with serious illness and frailty? A new study by two highly respected health care economists comes up with a surprising answer: No. Even as seniors are living longer, their overall health in old age appears to be improving [...]
President Trump’s decision to revoke what’s known as Temporary Protective Status for immigrants from a dozen countries will severely damage health and long-term care in the US. More than 1 million people are at risk of being deported as a result of the move, including 350,000 from Haiti, many of whom work in health and long-term care. Trump cancelled TPS [...]
Besides helping protect millions of Americans from the costs of long-term services and supports, well-designed long-term care financing reform also could sharply lower Medicaid costs. Even better: One version of reform, public insurance, could give care recipients and their families significantly more flexibility in designing their own care. Over the long run, a public catastrophic long-term care insurance program could [...]
The nursing home business is tough. Few want to live in them It is hard to make money running a good one. Government regulations make creative care a huge challenge. And they have a reputation, too often deserved, of being unpleasant and even dangerous places to live and work. Yet, I sometimes come across a skilled nursing facility that trashes [...]
Many of the roughly 10-14 million middle-income older adults in the US are attracted to senior living communities and are prime candidates to move. And collectively they have hundreds of billions of dollars to spend. But they don’t relocate because they can’t afford it. The vast majority of these developments—whether stand-alone independent living or continuing care communities (known as CCRCs) [...]
Long-term care costs are rising even as families struggle to keep up with increases in their ordinary living expenses, making it tougher than ever to save for personal care needs in old age. That combination is raising interest in public long-term care insurance. But what would a public program cost? It all depends on the design, but we are learning [...]
In recent weeks, two bipartisan groups of lawmakers—one in the Senate and one in the House—proposed commissions aimed at addressing the impending insolvency of the Social Security Trust Fund. Both deserve credit for proposing something, since most of their colleagues are silent on Social Security reform. But unless carefully designed, these groups are more often excuses for inaction than prods [...]
Despite the potential value of new blood tests promoters say can identify Alzheimer’s disease long before symptoms arise, these tests raise many important issues that patients and their physicians should carefully consider before requesting or administering them. Because of those concerns, medical thought leaders are offering important guidance about how their colleagues should talk to their patients about the tests [...]
The Department of Justice’s decision to stop protecting the right of people with disabilities to remain in their homes will make it easier for states to slash home care benefits in response to deep federally-mandated cuts in Medicaid funding. The decision, effectively a federal get-out-of-jail-free card for states, will harm many vulnerable people, including older adults. The DOJ said it [...]