“Bracing For The Coming Long-term Care Tsunami”

“Bracing For The Coming Long-term Care Tsunami,” by Jennifer Lang, Advisor Magazine

Quote:  “What Are Your Funding Options? There are many, however your primary choice is between two options: self insure or purchase long-term-care insurance. Let’s go through each.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

If those were the two “primary” choices, we wouldn’t have a problem. Unfortunately, the real choice most people make is to ignore long-term care until they need it and then get Medicaid to pay. If making that choice, or failure to choose, resulted in “impoverishment” as everyone says, the word would get out very quickly that it’s a poor way to go, no pun intended. But Medicaid’s financial eligibility criteria are so generous, as I’ve explained elsewhere, that generation after generation has been duped by government to ignore LTC and reply on public assistance. Until we change that, the whole system will remain a mess.