Social Insurance: A Critical Base for Financing Long-Term Services and Supports

Source: Lee Goldberg and G. Lawrence Atkins, SCAN Foundation, March 2013

This series summarizes current issues in financing long-term care and outlines policy options for increasing affordable access to services….

…The challenge is to address the needs of the large group in the middle of the income distribution that faces a significant gap between the resources required to maintain their quality of life and what they can actually afford at the time they need care. … The issue with LTSS is not whether there should be government funding. In 2010, the federal government and the states spent more than $200 billion on LTSS, primarily through Medicaid. The state and federal partnership is a critical lifeline for millions of low-income people who cannot afford the LTSS they need, but it is only available after an individual becomes impoverished. Absent is a universally available insurance-based approach that would spread the financial risk of developing and living with a chronic illness or disability. Reform of our LTSS system may be on the horizon simply because the status quo will be increasingly difficult for governments to manage, especially state governments….
See also:
Shaping Affordable Pathways for Aging with Dignity: Current Issues and Potential Solutions for Addressing America’s Long-Term Care Financing Crisis
Overview of Current Long-Term Care Financing Options
Size of the Employer and Self-Employed Markets Without Access to Long-Term Care Coverage Options
Medicaid Spend Down: Implications for Long-Term Services and Supports and Aging Policy
RTI International: Medicaid Spend Down: New Estimates and Implications for Long-Term Services and Supports Financing Reform
Avalere: Insuring Americans for Long-Term Services and Supports: Challenges and Limitations of Voluntary Insurance
Why Long-Term Care for U.S. Seniors is Headed for ‘Crisis’
Source: Betty Ann Bowser, PBS Newshour, March 20, 2013