“COVID-19 could lead to billions in long-term healthcare costs: experts”

COVID-19 could lead to billions in long-term healthcare costs: experts,” by Amy Novotney, McKnight’s Senior Living

Quote:
These experts point to the potential for billions of dollars in long-term healthcare expenses, as studies of patients with COVID-19 continue to uncover new complications associated with the disease. They say the costs stem from COVID-19’s toll on multiple organs, including heart, lung and kidney damage that likely will require costly care, such as regular scans and ultrasounds, as well as neurologic deficits that are not yet fully understood. The added costs likely will lead to increases in insurance premiums and long-term care costs.”

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

Covid-19 hit LTC when it was down already. The perfect storm of an oncoming economic catastrophe and growing long-term health care costs may finish the welfare-financed system at last. Will private financing markets including home equity conversion and private LTC insurance fill the breach?