“Why not make insurance for long-term care services and supports part of health care coverage?
It is a radical idea that turns the current model—which often treats long-term care insurance as an element of retirement planning—entirely on its head…”
Monday, April 16, 2012
Long-Term Care Insurance Reform
“I wanna be on the cover of Forbes magazine
Smiling next to Oprah and the Queen”
‘Billionaire’ by Travie McCoy
When Forbes Magazine turns its capitalist focused eye on Long Term Care reform it is worth noting.
“We have to try something new” concludes the article.
It’s been thousands of years of mythology plus thousands of years of knowledge since ol’ Oedipus solved the Riddle of the Sphinx, ‘What walks on four legs in the morning, two legs at noon, and three legs at night?’ Yet how many of us deny daily our own aging and eventual need for care.
Only a third of all adults say they have even talked with family or a friend about providing care to them in the future or had purchased disability income insurance or looked into independent or assisted living arrangements or purchased long-term care insurance.
Only 4 in 10 adults have set aside funds to cover additional expenses or signed a living will or healthcare power of attorney.
How many can even afford such options?
As a result … family caregivers provide about 80 percent of all long-term care services in the U.S; an estimated 120 million adult Americans (57 percent) are either providing unpaid care to an adult family member or friend or have provided this care in the past.
When the baby boomer generation starts walking on three legs, how long before this house of cards comes crashing down?
Yes! We need to try something new!
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