Financing
Affordability of Private Pay Long Term Care Services and Supports
Source: AARP Public Policy Institute
Content Type: PDF
This paper presents data on private pay affordability for every state and more than 400 markets in the United States. It shows wide variation in affordability between states and markets. The report also shows that private pay nursing home care is not affordable for middle-income families anywhere. While less costly than nursing homes, home health care is still unaffordable for middle-income older people at typical levels of use.
LTC Insurance
Paying for Long Term Care- Private Financing
Source: National Clearinghouse for Long Term Care Information
Content Type: Webpage
The National Clearinghouse provides various ways of how people can finance any long term care issues that come up. There are many more options and resources available then people realize and the National Clearinghouse provides this information to anyone looking.
Health and Income Security Brief: Long Term Care Financing: Models from Abroad
Source: National Academy of Social Insurance (NASI)
Content Type: PDF
Provides reader with multiple models from other countries when it comes to developing and financing a long term care insurance system.
Financing Long Term Care for the Elderly
Source: Congressional Budget Office
Content Type: PDF
This 2004 report explains how seniors pay for long term care and related issues.
Who Buys LTC Insurance?
Source: Urban Institute
Content Type: Report in PDF format
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.
Long Term Care and the CLASS Act
Part1
Part 2
Source: New York Times
Content Type: News Article
Description of the Class act plan for long term care financing included in 2010 health care reform law
Spotlight on Long-Term Care Insurance: A Private Safety Net?
Source: National Consumer Law Center
Content Type: Article
The advantages and disadvantages of long-term care insurance.
Comparing Long-Term Care Insurance Policies: Bewildering Choices for Consumers
Source: American Association of Retired Persons
Content Type: Article
Bonnie Burns of California Health Advocates looks at the myriad decisions facing consumers considering the purchase of LTC insurance and makes recommendations designed to ease the process.
For More Information
More information on this topic might be found in the following areas of the Legal Issues library:
Medicare
Medicaid
Reverse Mortgages