Long-term care insurance has been a favored topic of the press for the past few years, and for good reason: It’s evident that Medicare will not come close to covering the enormous encroaching medical needs of aging Baby Boomers.
Obama’s CLASS Act, a provision of the PPACA, was designed to help meet this need by setting up a federally-funded program, much like Social Security. But the program wasn’t actuarially sound, and was recently scrapped by the Administration.
On the heels of the announcement, Jane Gross recently published an essay in the Sunday Review section of the times, illuminating the very real failures of Medicare.
What can be done to solve the problem of funding our future care? Now is the time to weigh in on the conversation.