“In these places, ‘residents want a nursing-home option for themselves in the future, and they’re willing to pay taxes to support that,’ he said. But government-owned and -run facilities often have deficits and have outdated institutional styles that don’t attract the wealthier private-pay customers that offset Medicaid patients, said Jeff Binder, managing director of Senior Living Investment Brokerage Inc. Medicaid payments also face uncertainty, with the new White House budget proposing heavy cuts to the federal-state health program for the poor.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Medicaid made nursing home care free in 1965 causing institutional bias and exploding budgets, the consequences of which are coming to bear now, but especially in 14 years when boomers start turning 85.
Reminder: The Wall Street Journal is gated.