Financial Preparedness for Long-Term Care Needs in Old Age (Research Report)
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There is little evidence that the first of the baby boom generation or the retirees to follow are financially prepared for the risk of potentially catastrophic costs of disability-related long-term care. Both the high cost of insurance and uncertainty about its value are widely thought to account for the lack of preparedness. This chapter reviews evidence on the risk of long-term care, types of long-term care, financial risks, and consumer knowledge of these risks. Common and not-so-common options for private financing of long-term care and barriers to their widespread adoption are discussed. A final section briefly reviews policies in place or proposed for increasing private preparation.
Housing as a Platform for Improving Outcomes for Older Renters (Series/What Works Collaborative)
|Posted to Web: October 31, 2012||Publication Date: October 31, 2012|
This policy framing paper is one of three that explores the potential for housing combined with support services to create better outcomes for vulnerable populations. The aging of the U.S. population will have profound implications for society, the economy, and the health care system. This paper focuses on mitigating the impacts on low-income older renters and on how housing can provide a platform for supporting their independence and well-being. The authors establish a theoretical basis and empirical evidence that shows a link between favorable housing and positive life outcomes. They propose research that can inform policymakers and practitioners in meeting the housing and service needs of this at-risk group. This framing paper is part of a series of field-building research agendas produced under the What Works Collaborative. More information can be found on the What Works Collaborative web page
Drivers of Housing Demand: Preparing for the Impending Elder Boom (Research Report)
|Posted to Web: May 07, 2012||Publication Date: May 07, 2012|
The aging of the baby boomers represents a demographic tidal wave that will profoundly affect housing needs and living arrangements in the coming years. The authors examine three possible scenarios for the projected number and mix of households in New Orleans in 2020. But regardless of the scenario, the increase in households headed by elderly will greatly surpass the increase in any other household type. This report concludes with strategies for attracting new residents to the city and ensuring we meet the housing needs of aging residents, including the desire of many seniors to stay in their homes as long as possible.
Refocusing Responsibility For Dual Eligibles: Why Medicare Should Take The Lead (Policy Briefs/Timely Analysis of Health Policy Issues)
|Posted to Web: November 23, 2011||Publication Date: November 16, 2011|
At 40 percent of Medicare's and of Medicaid's costs, the 9 million dual eligibles who receive benefits from both programs, are a focus of efforts to slow growth in entitlement spending. But, given the two programs' responsibilities, policy-makers are relying far too heavily on states to find the solution. Dollars spent on dual eligibles are overwhelmingly federal; potential savings come from better management of Medicare-financed acute care services; and enhanced state, rather than federal, responsibility for overall spending increases the risk of cost-shifting to Medicare and may undermine quality of care for vulnerable beneficiaries.
Improving Care for Dual Eligibles through Innovations in Financing (Commentary)
|Posted to Web: October 04, 2011||Publication Date: October 04, 2011|
Health care for over 9 million elderly and disabled people enrolled in both Medicare and Medicaid ("dual eligibles") is complicated by an inefficient and fragmented system. In each program, dual eligibles account for about one sixth of enrollment but almost 40% of spending. Despite health-care costs exceeding $315 billion in 2011, of which Medicare pays about 55%, both Medicaid and Medicare have shown a striking lack of leadership in coordinating care for dual eligibles. We suggest ways in which the CMS's recently proposed models could be modified to improve both the quality and cost-effectiveness of care for this population.
Who Purchases Long-Term Care Insurance? (Series/Older Americans' Economic Security)
|Posted to Web: August 31, 2011||Publication Date: August 31, 2011|
Most Americans will eventually need long-term care, which is often expensive and not usually covered by public programs until recipients have nearly exhausted their savings. In 2009, 5.2 million Americans age 65 and older not living in institutions had long-term care needs. Yet, only about 1 in 10 Americans age 55 and older had private long-term care insurance in 2008. Coverage rates were nearly twice as high among those with annual incomes in excess of $100,000. Private insurance covered only 7 percent of the $240 billion in U.S. long-term care costs in 2009. Nearly a fifth were paid out of pocket.
State Implementation of National Health Reform: Harnessing Federal Resources to Meet State Policy Goals (Research Report)
|Posted to Web: April 06, 2011||Publication Date: March 28, 2011|
This report for the State Coverage Initiatives program of AcademyHealth explores how states could use resources provided by the Patient Protection and Affordable Care Act to achieve five goals:
- Increasing coverage and access to care;
- Reforming health insurance to function more like a traditional market;
- Holding insurers accountable;
- Reforming health care delivery to slow cost growth and improve quality; and
- Reduce state budget deficits.
The paper, "State Implementation of National Health Reform: Harnessing Federal Resources to Meet State Policy Goals," concludes that federal legislation gives states powerful new tools for making progress towards longstanding policy objectives.
Living Up to Its Name: How to Fix the Class Act (Video / Event)
|Posted to Web: March 30, 2011||Publication Date: July 01, 2010|
The Community Living Assistance Services and Supports (CLASS) Act, a provision of the landmark 2010 health law, would create a government-run, voluntary long-term care insurance program. To its supporters, CLASS is a major step toward a sustainable financing system for the care of both the frail elderly and younger adults with disabilities. But many experts believe the act's design is deeply flawed. They fear that few consumers will buy the insurance and the program will fail. Can CLASS be fixed? What changes are needed? Our panel of experts will debate various proposals.
|Posted to Web: March 24, 2011||Publication Date: March 24, 2011|