(I posted this yesterday on my TaxVox blog, but those interested in long-term care may be interested as well) Long-term care insurance has been a model of market failure. The need for care in frail old age or disability seems to be the ideal insurable event. Two-thirds of those over 65 will need some assistance before they die and 20 percent will [...]
It was a good day for supporters of the CLASS Act, the national long-term care insurance program that has been on the edges of the health reform debate. A version of the measure was included in the House Democratic reform bill introduced today by Speaker Nancy Pelosi. The decison all but assures the long-term care proposal will be included in the [...]
Lots of buzz about the Oct. 20 Chapter 11 bankruptcy and sale of Erickson Retirement Communities, one of the nation's premier developers of Continuing Care Retirement Communites. CCRCs are campus-like settings that promise lifetime care for seniors, from independent living to assisted living to nursing home care. These facilities operate on several different business models but Erickson, like many others, requires a hefty, [...]
Elder abuse is one of those issues we prefer to not talk about. And, in truth, there is much we don't know about it. For instance, even the most basic data on how often abuse happens are notoriously unreliable. Yet, we know it occurs. And far too often. Financial scams, sometimes orchestrated by trusted advisers and friends; physical abuse by caregivers; physical abuse of caregivers (I [...]
I spent yesterday morning at a Kaiser Family Foundation panel discussion on the CLASS Act, the national long-term care insurance program being considered as part of health reform. The panelists, who included Senate Health Committee aide Connie Garner and a number of advocates for long-term care reform, were upbeat about the possibility that CLASS will be included in a final health [...]
When family caregivers are under a lot of stress, the chances increase that their loved ones will have to move to a nursing home. That's the conlusion of an important new study by my Urban Institute colleagues Brenda Spillman and Sharon Long. That conclusion may seem obvious to caregivers, but Spillman and Long back it up with some hard data. They found that [...]
The other day, long-term care insurance gadfly Stephen Moses called me "an advocate of more government financing and an enemy of private LTC financing alternatives." I assume he said this because I believe that reforms such as the CLASS Act, which would create a national long-term care insurance system, would be a far better way to pay for this assistance [...]
In a bit of surprising news, Senate Finance Committee Chair Max Baucus (D-Mont) added some key long-term care amendments to his health reform bill. The provisions, first proposed by senators John Kerry (D-Mass), Maria Cantwell (D-WA), and Chuck Schumer (D-N.Y.) would all make home and community based care more accessible under Medicaid. Currently, Medicaid is only required to provide long-term [...]
I am disappointed, but not surprised, that Congress' latest health reform effort does almost nothing to repair our tattered long-term care system. The massive health reform bill proposed today by Senate Finance Committee Chairman Max Baucus (D-Mont) touches nearly every part of the health system: Medicare, Medicaid, private insurance, hospitals, doctors, you name it. Except for one critical element. The proposal all [...]
I moderated two interesting panels today at a long-term care conference sponsored by Genworth, the big insurance company. The first panel included author and family caregiving expert Virginia Morris, National Family Caregivers Association president Suzanne Mintz, and Ancil Alexander, a home health aide who visits clients in the South Bronx. Virginia talked about the desperate need caregivers have for information, Suzanne discussed the [...]