Transforming the financing and delivery of long-term supports and services for older adults and disabled people.
Generously supported by:
Akin Gump Strauss Hauer & Feld LLP
American Health Care Association/ National Center for Assisted Living (AHCA/NCAL)
America’s Health Insurance Plans (AHIP)
Hedermand Consulting LLC
The Jewish Federations of North America (JFNA)
Jewish Healthcare Foundation
The John A. Hartford Foundation
Mt. Sinai Health Care Foundation
The SCAN Foundation
The Urban Institute
The Convergence Collaborative’s vision is that consumers, providers, insurers, government, and others can work together to design a sustainable and affordable system that delivers and finances higher-quality Long Term Support and Services (LTSS). The current system underfunds the services and supports people need to live a meaningful life, and any solution should, as much as possible, shift from the current welfare-based model to an insurance-based system.
At the time of the project, more than 6 million older adults needed a high level of care. That number was expected to increase to nearly 16 million within a half-century. Millions of middle-income Americans drain their financial resources, place enormous burdens on family caregivers, and eventually turn to Medicaid for assistance. We believe the United States can do far better.
Nearly half of older adults will have a high enough level of need that they would be eligible for private long-term care insurance or Medicaid.
Unpaid family caregivers lose an estimated $3 trillion in lost lifetime wages and benefits.
Advancing States & AARP
This program should provide financial support to those with high levels of care needs over a long period of time.
This includes efforts to encourage retirement savings and develop more efficient and innovative use of home equity to assist middle-and upper-income families finance LTSS needs for those risks that are not covered by catastrophic insurance benefits.
A modernized Medicaid LTSS safety net for those with limited lifetime incomes who are not able to save for these care needs, as well as for those who deplete their assets paying for medical and long-term care costs. This includes more flexible public programs that can deliver care in the setting most appropriate to the needs of individuals.
Families and communities that are the bedrock for people receiving care at home should receive stronger support and better integration of medical treatment and personal assistance.
Check out our donate page or contact our development team to learn more.
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