Reports, House Hearing Discuss Financing of Long-Term Services and Supports
March 11, 2016 | Aging Services Risk Management
Three groups recently issued policy recommendations for financing long-term services and supports based on models run by the Urban Institute and Milliman, Inc., and jointly funded by the SCAN Foundation, LeadingAge, and AARP. A side-by-side review published in February 2016 compares the three reports, which were released by LeadingAge, the Bipartisan Policy Center, and the Long-Term Care Financing Collaborative, respectively. The review notes common themes among the reports. The reports noted that "older adults and their families are unprepared for the risk of needing long-term services and supports, both in terms of high out-of-pocket spending and the resulting need for Medicaid," the review states. Many rely on unpaid care by family caregivers and pay high out-of-pocket costs, and needs for long-term services and supports often go unmet, illustrating the unsustainability of the system.