New Reports Focus Attention on LTSS Financing
A mandatory, universal insurance approach that covers catastrophic events is the most promising path to financing long term care. So suggests a new LeadingAge report, Perspectives on the Challenges of Financing Long Term Services and Supports, which describes the work of the Association's Pathways Task Force. Working with seven pathways developed through previous initiatives, LeadingAge NY, AARP and the Scan Foundation jointly funded economic and actuarial analyses by the Urban Insitite and Millima, Inc. to model three new insurance approaches. While the modeling did not provide a single solution, the work does point to some options that have greater impact than others. The report is available here.
At the same time, the Long Term Care Financing Collaborative, a coalition of various groups including LeadingAge, issued its final report building on their previous proposals to better integrate LTSS and medical care, provide greater support for paid caregivers and families, and enhance supports for communities and employers of caregivers. In their final report, the Collaborative also recommends a universal catastrophic insurance program, revitalization of long term care insurance and a modernized Medicaid Long Term Care Services and Supports (LTSS) safety net. That report is available here.
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