We recommend when planning for retirement that you include long term care. We aren't the only ones.....
The Bipartisan Policy Center issued its recommendations for less sweeping changes to combat long-term care cost issues. These were endorsed by former Senate majority leader Tom Daschle, former Congressional Budget Office director Alice Rivlin, and former Department of Health and Human Services secretary Tommy Thompson.
These recommendations include linking long-term care insurance to retirement benefits; limited long-term care benefits through Medigap and Medicare Advantage, a Medicare respite benefit for unpaid caregivers; and tax credits for paid long-term services.
The collaboratives new report also calls for major changes to Medicaid to protect both people with limited lifetime incomes and those who deplete their assets while paying medical bills and for long-term care. About half of all senior citizens will need about two years’ worth of intensive personal care before they die, which will cost an average of $140,000. For 15% of these people, the cost will top $250,000.