Universal Long Term Care Insurance Unlikely in U.S. Says AALTCI Director
A national long term care insurance program is not likely to occur anytime soon predicts the head of the American Association for Long-Term Care Insurance.
Los Angeles, CA, November 21, 2015 --(PR.com)-- A just-published research report explores the rationale for a new nationalized long term care benefits program but will Americans willingly pay more in taxes asks a leading national expert.
"Many serious people propose Medicare Part E, a new entitlement program that will pay for long term care services," explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). Slome was referring to a just published 80-page research report by the Urban Institute (Microsimulation Analysis of Financing Options for Long-Term Care Services and Supports).
"There's no question the nation's programs for dealing with long-term care services are in need of review. But are U.S. taxpayers ready to sign up and pay for another nationalized healthcare program?" asks Slome. "Heck. we are still debating and hearing calls for the repeal of ObamaCare so I see little chance of this happening in the next few years. I can't imagine any Presidential candidate suggesting an expanded government healthcare-related program."
Slome points out that the researchers project anywhere from a 0.6 to a 1.35 percent payroll tax to pay for what he calls a modest long-term care program (Table 1). "That's what they project but how many new government programs ever get their optimistic projections for costs even close to reality?" Slome adds.
AALTCI's director points to Congressional Budget Office studies following the implementation of Medicare Part D (Medicare drug benefit) enrollment. "Actual participation was 18-to-25 percent lower than estimated when Congress enacted Part D," Slome reports. "Lower enrollment accounted for 57 percent difference between CBO's projected costs and the program's actual costs between 2006 and 2010."
"Unfortunately studies like these generate optimistic headlines that result in a misguided sense that government programs will ultimately come to the rescue and pay for care," Slome declares. "There is a lot of money to be made in long-term care, ranging from from providers of home care workers to skilled care facilities and a new government program paying costs for tens of millions of people has the potential to benefit many."
A number of countries have taxpayer supported long term care programs Slome points out. "This is definitely a topic worth debating and the researchers provide a good starting point and they seem to have leading organizations willing to fund the effort," Slome concludes. "I just don't see U.S. taxpayers ready to accept such a plan anytime soon."
The American Association for Long-Term Care Insurance is a national organization supported by independent insurance professionals. Established in 1998, the organization is headquartered in Westlake Village, CA.
"Many serious people propose Medicare Part E, a new entitlement program that will pay for long term care services," explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). Slome was referring to a just published 80-page research report by the Urban Institute (Microsimulation Analysis of Financing Options for Long-Term Care Services and Supports).
"There's no question the nation's programs for dealing with long-term care services are in need of review. But are U.S. taxpayers ready to sign up and pay for another nationalized healthcare program?" asks Slome. "Heck. we are still debating and hearing calls for the repeal of ObamaCare so I see little chance of this happening in the next few years. I can't imagine any Presidential candidate suggesting an expanded government healthcare-related program."
Slome points out that the researchers project anywhere from a 0.6 to a 1.35 percent payroll tax to pay for what he calls a modest long-term care program (Table 1). "That's what they project but how many new government programs ever get their optimistic projections for costs even close to reality?" Slome adds.
AALTCI's director points to Congressional Budget Office studies following the implementation of Medicare Part D (Medicare drug benefit) enrollment. "Actual participation was 18-to-25 percent lower than estimated when Congress enacted Part D," Slome reports. "Lower enrollment accounted for 57 percent difference between CBO's projected costs and the program's actual costs between 2006 and 2010."
"Unfortunately studies like these generate optimistic headlines that result in a misguided sense that government programs will ultimately come to the rescue and pay for care," Slome declares. "There is a lot of money to be made in long-term care, ranging from from providers of home care workers to skilled care facilities and a new government program paying costs for tens of millions of people has the potential to benefit many."
A number of countries have taxpayer supported long term care programs Slome points out. "This is definitely a topic worth debating and the researchers provide a good starting point and they seem to have leading organizations willing to fund the effort," Slome concludes. "I just don't see U.S. taxpayers ready to accept such a plan anytime soon."
The American Association for Long-Term Care Insurance is a national organization supported by independent insurance professionals. Established in 1998, the organization is headquartered in Westlake Village, CA.
Contact
American Association for Long-Term Care Insurance
Jesse Slome
818-597-3205
www.aaltci.org
Jesse Slome
818-597-3205
www.aaltci.org
Contact
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