Long Term Care Insurance

832 Words2 Pages

Today, world’s population is aging at a very fast pace and United States is no exception to this demographic change. According to the U.S Census Bureau, senior citizens will be accounted for 21% of the American population in 2050 (Older Americans, 2012). Although living longer lives may not seem like a negative sign, living longer does not necessarily mean living healthier. Older adults of today are in need of long-term and health care services more than any generation before them (Older Americans, 2012). Because of the growing need for senior care, millions of families are facing critical decisions on how to provide care for their parents. In addition, declining birthrates may cause people to have less familial care and support as they age. To be able to provide the necessary care for senior citizens government funded long term care insurance program is needed. Medicare is the federal program that provides health coverage for people who are 65 and older (Green, 2003). Although many assume that Medicare provides long-term care, these benefits are very limited and are not efficient enough to accommodate the much needed care services for older adults. For example, Medicare programs do not help to pay for personal care services such as eating, dressing or using the bathroom even though these “activities of daily life” are the most needed services for most seniors (Green, 2003). These care services can be provided to seniors by the long term care insurance program. According to the national survey that was conducted among people who are 55 and older, just 36% believed that they would need long term insurance (Carter, 2008). However, it's estimated that at least 60% of people over age of 65 will require some long-term care services at... ... middle of paper ... ...These services can be a key to improve health of many citizens and keep rising health costs under control. Preventive screenings and counseling on topics such as losing weight, treating depression and alcohol consumption can make it possible to detect many diseases in the early stages, when it is treatable, and reduce health care costs in a long run (America’s Health Insurance Plans, 2007). Currently, voters may be unenthusiastic to accept tax increases to fund social long term care insurance program. Moreover, private long term care insurance is only able to serve a small fraction of the aging population because of the cost. However, the government funded long term care insurance program can relieve pressure on family caregivers, improve the quality of life for some elderly, and put in place a framework for addressing the nation’s severe demographic challenges.

More about Long Term Care Insurance

Open Document