Saturday, July 19, 2008

Let's Make It Affordable to Care

In the midst of all the political rhetoric and debate during this
presidential season, one critical issue seems to have been left out
-America's broken system for long-term care financing.

The current system, therefore, is simply unsustainable. So what is
the solution
? The American Association of Homes and Services for the
Aging (AAHSA), of which St. Andrew's is a member, commissioned an
in-depth study to develop a workable plan for future financing of
long-term care. Their recommendation calls for a broad-based
national insurance trust into which all Americans would be enrolled.
Among its features are:
  • Low overhead costs.

  • The insurance would be financed by premiums, not by general
    tax revenues.

  • Individuals could pre-fund their long-term care needs.

  • Benefits should be available regardless of setting and
    payable in cash.



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