Long-term care financing is an issue that affects a lot more than just people planning or paying for care. It is a huge issue for the federal and state governments who foot the bill through Medicare and Medicaid. LTC financing is also a big deal for providers of care - home health care firms, assisted living communities and nursing homes.
No one disagrees the current system is a mess, with a lack of understanding of who will pay for what. It's not surprising that more people don't buy long-term care Insurance or properly plan. But what is the answer? Two organizations have recently issued reports which give some ideas on reforming LTC. Sure, we've seen these types of proposals in the past but what is striking is how the diverse stakeholders seem to be working together to solve problems - despite the popular view that we are completely divided on policy questions and unable to come to a consensus.