Paying for long-term care services in America.

摘要

The elderly in America now comprise 13% of the population. By the year 2030 this figure is expected to rise to 23%. Related to these figures are that the demand for long term care services will also increase. As yet, in America, there is no formal financing mechanism to pay for long term care services in an equitable manner to the elderly who need care. The current financing mechanisms available to help pay for long term care services were analysed. The financing mechanisms varied between public/private sources or a combination of both. The only public financing mechanism available to cover all costs associated with long term care is Medicaid. However, the access requirements are very stringent. The private financing mechanisms were considered to be too expensive for the majority of the elderly. In conclusion, it appears there will have to be a combination of both public and private financing mechanisms to pay for the expected increases in demand for services. This might be a public system to pay for care for those who simply cannot afford to pay and a combination of a private/public financing system for the elderly who do have sizeable incomes and assets.