long-term care financing

Interest Grows In Social Insurance For Long-Term Care. But What Should It Look Like?

Federal and state policymakers increasingly are interested in creating a public social insurance program for long-term care in the US. Even some Democratic presidential hopefuls have raised the issue, though still only in general terms. That growing interest is great news, and long past due. But what should such a model look like? Designers face a handful of critical high-level [...]

By |2019-09-04T13:27:55-04:00September 4th, 2019|long-term care financing, Uncategorized|0 Comments

The Trump Administration Is Looking At Tax Breaks And Other Ways To Boost Private Long-Term Care Insurance

The Trump Administration is (very quietly) looking at ways to reinvigorate the flagging private long-term care (LTC) insurance market. The recommendations are expected to surface later this year. And they likely will be very modest. The ideas being considered would make some regulatory changes and create new tax subsidies to encourage consumers to purchase private LTC insurance. They would send [...]

It’s Official: Washington Will Be The First State With Public Long-Term Care Insurance

Washington Governor Jay Inslee has signed into law the nation’s first public state-operated long-term care insurance program. The Long-Term Care Trust Act will pay benefits of up to $36,500 for those who need assistance with regular daily activities such as eating, bathing, or help with medications. The benefits initially will be funded with a payroll tax of 0.58 percent on [...]

By |2019-05-15T14:06:44-04:00May 15th, 2019|long-term care financing|1 Comment

How To Help Middle-Income Seniors Pay For Their Long-Term Care Needs

Recent articles in the journal Health Affairs attempted to attach numbers to a problem that millions of American families are intimately aware of: Many middle-income older adults cannot afford to pay their out-of-pocket costs for health care and senior housing. And the problem is going to get worse once the Baby Boomers begin to hit their late 70s and early [...]

By |2019-05-10T16:20:20-04:00May 10th, 2019|long-term care financing|0 Comments

Washington State’s Public Long-Term Care Insurance Program Is On The Verge Of Becoming Law

A first-in-the-nation state long-term care insurance program is likely to become law within a few weeks. In Washington State, both houses of the legislature have approved the measure, though they must resolve relatively minor differences between the two bills. Gov. Jay Inslee has promised to sign it. Washington would be the first state in the US to enact a public [...]

Minnesota Considers Two New Ways To Pay For Long-Term Care

Would you buy a term life insurance policy that automatically converts to long-term care coverage once you reach retirement age?  How about paying a modest additional premium to add some home care benefits to your Medicare Supplemental (Medigap) insurance or your Medicare Advantage plan? Minnesota, a state that has been a leader in long-term care delivery reform, may soon experiment [...]

A New Congressional Proposal For Public Long-Term Care Insurance

Representative Frank Pallone (D-NJ), the senior Democrat on the House Energy and Commerce Committee, is proposing a new universal Medicare long-term care benefit. His bill, still in draft form, initially would provide a daily cash benefit of about $100 after a two-year waiting period. As an alternative to the waiting period, Pallone is also considering a cash deductible that would [...]

By |2018-06-13T15:55:43-04:00June 13th, 2018|long-term care financing|0 Comments

A New Public/Private Long-Term Care Financing Plan

Two years ago, the Long-Term Care Financing Collaborative proposed a public catastrophic long-term care insurance program. In effect, people would use private insurance, savings, or home equity to pay for the first few years of their care needs, then the government would pick up costs for people with true catastrophic needs. Today, two highly-respected long-term care experts offered an important [...]

By |2018-02-14T12:43:53-05:00January 31st, 2018|long-term care financing|1 Comment

A Bipartisan Group Proposes A Package of Modest, But Important Long-Term Care Financing Reforms

The Bipartisan Policy Center, a Washington (DC) based group that develops consensus policy solutions,  has proposed a series of reforms aimed at helping families finance long-term care for themselves and their loved ones. The proposal aims to encourage more people to buy private long-term care insurance, including through Medicare,  and would provide a new Medicare respite benefit for family caregivers. [...]

By |2017-07-12T16:38:29-04:00July 12th, 2017|long-term care financing|0 Comments

Americans Remain Baffled By Long-Term Care Financing, But Would Like A Medicare Benefit.

Americans age 40 and older continued to be flummoxed by the challenges of long-term care financing, but increasingly believe that Medicare ought to provide such supports and services. According to a new poll by the Associated Press-University of Chicago NORC Center for Public Affairs Research (AP-NORC), support for a Medicare long-term care benefit has grown significantly over the past five [...]

By |2017-05-30T19:37:33-04:00May 30th, 2017|long-term care financing, Medicare|0 Comments