Retirement Community Director Attacks Medicaid LTC Transfers
Asset manipulation by upper-income and middle-income seniors slows innovation at long term care service providers. [@@]
A senior housing executive made that assertion Wednesday at a Senate Finance Committee hearing on long term care issues.
Daniel O’Brien, senior vice president at Erickson Retirement Communities, Baltimore, said asset manipulation has contributed to the Medicaid LTC funding crisis.
“Despite rising enrollment and escalating costs, federal and state policy continues to permit middle-income and wealthy seniors, or their adult children, to manipulate complex eligibility rules and inappropriately shift the costs of their care to the American taxpayer,” O’Brien said.
Current law stifles innovation and interferes with efforts to create high-quality, affordable senior housing, O’Brien said.
“Health care providers are forced to chose between providing care on an exclusively private-pay basis to the wealthy, or be forced into the reality of virtually all residents becoming Medicaid-eligible,” O’Brien said.