“The Long-term Care Financing Collaborative, a group I helped create, recommended a public catastrophic insurance program. It would require older adults to pay for their care for the first few years but provide a lifetime benefit after that. People could fund their initial costs with savings, home equity, or private insurance.
While that idea was turned into legislation by then-Rep. Tom Suozzi (D-NY), so far it has gone nowhere.”
Read more from Howard Gleckman, Long-Term Care Financing Collaborative Founder and Member, on how recommendations from the Collaborative are making an impact on state-level policy.