For decades, seniors and others with chronic illness have had to scale a seemingly insurmountable barrier built by the health care system, aided and abetted by Medicare and Medicaid. On one side of the wall was medical care, mostly controlled by doctors, hospitals, drug companies, and skilled nursing facilities. Medicare paid them to do as many medical procedures as possible, and [...]
You are caring for a parent or spouse who is in the hospital. At 9:00 AM, your loved is told she’s being discharged by Noon. You had no idea this was coming. Worse, she’s going to have complex care needs—maybe wound care after surgery, or lots of medications to take on a complicated schedule. You have no idea what to [...]
For an important clue into the future of senior care in the U.S., watch Kindred Healthcare, a $5 billion company that operates in 47 states. As recently as 2010, half of Kindred’s business was generated by its skilled nursing facilities. This year, only one-fifth of its revenues will come from its nursing and rehab centers. In a major strategic shift, [...]
Americans 40 or older know they’ll need some personal care as they age and worry about losing their independence or having to rely on others. Yet, they are more likely to plan for their funerals than for their care needs, have no idea what such care costs, and more than 4 in 10 mistakenly believe Medicare will pay for their [...]
In a nice blog post the other day, AARP’s Lynn Friss Feinberg reminded me of one of my great pet peeves: The way some so-called experts describe the help family and friends provide loved ones with care needs. Lynn called them out for using the phrase “informal caregiving,” as if this were merely some sort of casual relationship. You know, [...]
Nearly all of us want to age in place. We want to grow old in a safe, comfortable, secure, affordable, and interesting community. But what the heck does that mean? As the U.S. (and the rest of the world) ages, governments, non-profits, think tanks, advocacy groups, and universities are trying to figure it out. It turns out to be not [...]
For decades, it’s been easy to answer the question of where we will live as we age. The options were few--our home or our children’s, a nursing home, or some form of large retirement community. Not any more. Unsatisfied with the limited choices of the past, seniors are creating an extraordinary brew of options, inventing new forms of community as [...]
Should you buy inflation protection for long-term care insurance? Absolutely. In fact, if you don’t think you can afford that extra coverage, you should probably rethink whether you should buy the insurance at all. The issue of inflation protection was just one of the subjects that I, along with financial adviser Michael Kitces and insurance industry spokesman Jesse Slome, discussed [...]
For the first time in years, there is hope that the U.S. can create a new model to help families finance long-term supports and services. The solution isn’t yet visible, and lawmakers won’t address the issue any time soon. But a wide range of private interests including long-term care providers, consumer groups, the insurance industry, and policy analysts seems to [...]
The loud debate over how many people have gotten health insurance under the Affordable Care Act misses the point. Yes, reducing the number of uninsured was one goal of the ACA. But only one. The law’s most enduring legacy will come from its historical—but largely unnoticed—changes in the way health care is delivered. Unlike the insurance expansion, which largely excludes Medicare, many [...]