The Aging Boomer Chat Rotating Header Image

October, 2009:

Long Term Health Insurance must be considered in new health care legislation

According to Wbur.org (NPR), we have neglected to include Long Term Health Care (LTHC)in the health care reform debate. I know this is critical because I have examined my parents long term policies and they don’t cover as much as they thought they would when they first purchased it 30 years ago. My brother and I are not wealthy enough to support my mother if she uses up her funds if she must go into a home. Like health care insurance, there probably should be some sort of mandate that everyone purchase LTHC. However, like regular health insurance it is extremely pricey. The Alliance for Retired Americans’ fact sheet on a bill proposed the Community Living Assistance Services and Support Act by Senator Edward Kennedy and Frank Pallone in march 2009 outlines how people could get into a voluntary long term health insurance pool through payroll deductions to help provide services for people and their families who become functionally impaired. The pool would lower the costs to individuals for Long Term Health Care Insurance. Those of us that are baby boomers are at risk of spending our savings and retirement on our parents, leaving us at the mercy of the state when it gets to be our turn to need help to be as functionally independent and cared for as possible. I know that I have not purchased Long Term Health Insurance because it is so expensive.