The Advisor's View of Long-Term Care Planning

Senate appointed LTC commission votes on final report

Posted by LTCI Partners | Sep 13, 2013 10:56:00 AM

The Commission on Long-Term Care , created during the repeal of the CLASS Act on January of this year, has completed a final report.  The report summary includes the following discussion of finances:

FINANCE

VISION: A sustainable balance of public and private financing for long-term services and supports (LTSS) that enables individuals with functional limitations to remain in the workforce or in appropriate care settings of their choice. One that 1) provides the tools and protections to enable Americans to comprehend and better prepare for the financial risk of needing LTSS; and 2) ensures that individuals with limited financial resources or for whom the cost of their care exceeds their financial resources have access to needed high-quality services and supports. 
Alternative Approaches:
Approach A: Strengthen LTSS financing through private options for financial protection
Approach B: Strengthen LTSS financing through Social Insurance

No surprises there. 

Topics: For financial professionals

Written by LTCI Partners

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