“Back in October, Society of Actuaries held a Long-Term Care Think Tank workshop near Chicago. … The goal was to come up with original, potentially practical ideas for improving the quality of long-term care (LTC) services, increasing the supply and, if possible, doing a better job of paying for services. Maddock Douglas consultants recently posted a report based on the workshop brainstorming. The two top ideas in the paying for care, or “pay-fors,” category were creating a ‘flex 401(k)’ that could be used to pay for LTC services and a family LTC account. In the category of service evolution and expansion, the workshop participants came up with the idea of developing a long-term care insurance (LTCI) policy that would look much more like an ordinary acute medical policy, and the idea of ‘Uberification.'”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
We’ll have more in a forthcoming LTC Bullet about the report and ideas summarized in this article.