“The head of the Long Term Care Innovation Subgroup says creating a savings mentality has to be part of improving the U.S. long-term care planning system. Teresa Miller, the Pennsylvania insurance commissioner, talked about an effort to shift the country to a long-term care savings mentality in a document prepared for a subgroup meeting held in December.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Worth a look, but the “document” overlooks the reason an LTC “savings mentality” is missing in the first place: Medicaid desensitizes the public to LTC risk and cost by paying for most expensive long-term care after the insurable event occurs while allowing most assets to be protected. Failure to address that key fact dooms all such projects to failure.