The New York Times reports on October 14th that a long-term care insurance program called ‘the Class program’ in the new health care law intended to help those with severe disabilities would end. The New York Times reports that the law would have been under severe financial stress due to lack of support from young, healthy individuals whom would most likely opt out of paying premiums. This would in turn create an unsustainable cycle of rising premiums.
While there are many political issues at hand, many of them described in the article, it is a shame that such a program was hastily removed without any additional alternatives. Medicare, as well as, many Americans grossly under estimated the costs and need for long-term care in this country. It’s hard for young and healthy individuals to comprehend the basic needs they take for granted today can become a very real fight as they age. It’s even harder to imagine these needs can remove them from their homes at the cost of $75,000 a year! While the government’s attempt to design a program to help these needs may have failed this time, the New York Times quotes Kathleen Sebelius, the secretary of health and human services, as saying there is still an “enormous need” for long-term care insurance.
We believe she is absolutely right about this. What is your plan? Have you dealt with a loved one who needs nursing home care and were unprepared for the cost? Non-medical home care, such as what we provide here at Sevens Home Care, offers a very viable and affordable alternative for those in need. Home care options should be considered in everyone’s plan because home is where you want to be.