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The paper looks at three methods of funding long-term healthcare, none of which are effective for those of middle and lower financial status. The paper researches what reform measures are required to achieve higher quality, cost efficiency and consumer satisfaction. The paper therefore examines the viable alternatives to long-term care financing by examining self-pay, private insurance and the Medicaid system. The paper provides a literature search and recommends alternative sources of funding.
From the Paper:"The financial ability to provide for long-term care (LTC) services comes from one of three sources: private pay, long-term care private insurance or from public programs such as Medicaid ("Insider's guide," 2001). LTC is a topic few aging adults want to think about, however, statistics state by 2030 70 million people will be 65 years of age or older, more than double the number of senior citizens in 1999 (Moses, 2002a). Other statistics state that if an individual lives to 65 years of age or older, a 48 percent probability exists the individual will be placed in a nursing home with a coexisting 71.8% risk for the need to utilize home health care (Health Insurance Association of America, 1997 as cited by "Insider's guide," 2001)."
Sample of Sources Used:
- Advocates urge reform in face of older adult care financial crisis, USA. (2005, March 14). Medical News Today. Retrieved on November 4, 2006 from http://www.medicalnewstoday.co/medicalnews.php?newsid=21212
- Duffy. B. (2005). Medicaid reform: The National Governors Association's bipartisan roadmap. Alzheimer's Association. Retrieved on November 4, 2006 from www.alz.org/Advocacy/downloads/MedicaidReform6152005.doc
- Durenberger, D. (2006). The U.S. Long-term care system: Ripe for reform. The Commonwealth Fund. Retrieved on November 4, 2006 from http://www.cmwf.org/publications/publications_show.htm?doc_id=331496
- Insiders guide to long-term care insurance. (2001). LTCInsurance.com Holdings. Retrieved on November 6, 2006 from http://www.click-trak.com/guides/ig-ltc.pdf
- Lawson, J. (2005, August 11). White House Conference on Aging Long-Term Care mini conference releases final conference recommendations. US Newswire. Retrieved on November 4, 2006 from http://www.highbeam.com/doc/1G1:135050384
Cite this Research Paper:
Long-Term Care (2007, December 18) Retrieved October 03, 2022, from https://www.academon.com/research-paper/long-term-care-100199/
"Long-Term Care" 18 December 2007. Web. 03 October. 2022. <https://www.academon.com/research-paper/long-term-care-100199/>