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How Medicaid Compromised Long-Term Care (Guest: Stephen Moses)

November 1, 2022

Medicaid is no longer a government program to benefit the poor. It’s a system people abuse to the detriment of the long-term care market.

Poverty is no longer a requirement to qualify for long-term care under Medicaid. An entire industry has cropped up over the years instructing families on how to maximize Medicaid’s loose financial guidelines.  While families save a bundle of money by having the government now pay for this care, the system has had a negative impact on the long-term care market. Reimbursement rates under Medicaid do not cover the actual cost of care which impacts quality and supply.  Families no longer save for long term care knowing that Medicaid can come to the rescue.  Stephen Moses, president of the Center for Long-Term Care Reform, has studied long-term care for decades. He joins the show to discuss the first segment of his new report with the Paragon Institute, ”Long Term Care: The Problem.”

Read the report: https://paragoninstitute.org/wp-content/uploads/2022/10/202208_Moses_LongTermCareTheProblem_FINAL_2.pdf

Seventy percent of people who reach age 65 today will require a severe need for long-term care. Long-term care provides medical and social services for those who are unable to care for themselves. 48 percent will receive paid care.  The need spikes after age 85. In ten years, the baby boomers will reach that threshold, causing demand for long-term care to soar.  Due to the loose financial guidelines, even well-off families can qualify for Medicaid coverage. This market manipulation crowds out private long-term care services. Our guest, Stephen Moses is about to release part two of a report which covers the solutions to this Medicaid problem.  His hope is that a new Congress will be open to better alternatives that improve care at more affordable prices.

In the interview, Moses discusses:

1.  How easy is it to get Medicaid to pay for long-term care?

2. How has this compromised the quality of long-term care over the decades?

3. Who will need long term care? Can any of us live independently until we die?

4. Baby boomers…most are now 65…what kind of pressure will that put on long-term care and Medicaid in 10, 20, and 30 years from now?

5. What about counting on family members to care for you? How about covering your care with your own wealth and investments?

Article Tags
Health Care
Author
AnneMarie Schieber is a research fellow at The Heartland Institute and managing editor of Health Care News, Heartland's monthly newspaper for health care reform.
amschieber@heartland.org @HCPolicy