Does Long Term Care Fit into The Future of Medicare and Medicaid?
The New England Journal of Medicine recently released an article regarding the place that Long Term Care will play in the future. Because it affects such a large part of the population, it is an important topic to tackle.
The article brought out that there are serious flaws in the long term care system and that these flaws expose the people who need the care the most to serious financial risk. How will those who cannot afford the financial risk be able to be taken care of? That is an important question that has not been addressed enough – even by the candidates that are currently running for office.
For now, of the nearly 10 million individuals who need assistance with daily living, most live at home and receive assistance from their family and friends. Because most Americans enter retirement without large sums of money set aside, they must be quite frugal regarding day-to-day living, much less money for extras, including medical care – especially long-term care.
State governments are struggling with the funding of long-term care through Medicaid. As costs for long term care get higher, Medicaid works to keep up the best it can, but with current flaws and no definite solutions in sight, Medicaid could very likely buckle under the strain
In addition, when Baby Boomers are factored into the equation, the picture becomes even more abstract. The solution is not cut and dried, nor is it an easy one. As we look at the legislators who will take office after the elections, it will be important for them to look at the issue of long-term care and raise awareness about it. There has to be a long look at where Medicare and Medicaid fit into long term care and acute care, as well. New approaches must be explored.
Most importantly, though, the discussion needs to begin and the questions need to be asked This should all be done in earnest with open minds truly looking for realistic answers to this situation.
Keep your eyes on the news and check with www.medicare.com and www.medicaid.com and AARP. Make sure you know what your situation is with regard to long-term care and your Medicaid or Medicare benefits.
