Course: HCA 621, Nursing Home Administration
Federal and state governments look for ways to reduce the cost of long term care (LTC). How do LTC insurance and managed LTC insurance programs potentially provide this reduction in cost?
Keep in mind that only five percent of those individuals over age 65 are in nursing homes. However, that percentage increases sharply over the age of 85, and the percentage of those in need of some long-term care service (home, community, or some institutionally based services) is much more than five percent after age 65. Insurance of any kind is a gamble and since only four percent of Americans have taken out LTC insurance, most do not want to take the risk. Managed LTC Insurance/Programs are the future of financing LTC. Facilities are being approached by MLTC organizations to contract for Medicaid Services. This is a new way of financing Medicaid individuals in nursing facilities. Some MLTC Programs such as PACE finance the Medicaid/Medicare eligible individuals. They have been successful for several years.
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