Looking at the imminent departure of the once baby boomer generation, it is critical the community be well-informed regarding development economically for possibility of long-term care and that the legislative policy creators offer motivation for this type of preparation. The private sector tax offer alternatives such as 401(k)’s and IRA’s are an sign of motivation to bank funds aside when able to, but other alternatives have to be developed if a person wants to be ready for the future demands on long-term care. This incredible boost will have needed to combine both public and private sector initiatives. Medicaid, Self-pay, or insurance companies could cover long-term care expenses.
The increasing life period of Americans offer added people the necessary long-term care and for a longer period of time are on the rise. "Medicare, as it is currently structured, cannot absorb 77 million new beneficiaries, much less begin to take care of the costs of the baby boomers' long-term care needs" (U.S. Special Committee, 2002). While traditionally, the popular Medicare expenses has been for nursing home care, the current change in financial support has been in the direction of home and community based care. The amount of home health visits increased immensely between the years of 1989 and 1996 (U.S. Special Committee, 2002). America now has an extremely developed health care system, which is accessible to every person who needs it. Even though it can be extremely difficult and annoying at various periods of time it has come a long way from the original health care organizations of the past. Before the majority of health care services were just a place where the ill were dwelling and cared for until someone death. Doctors rarely trained in hospitals and merely those who were lucky may possibly have enough money for appropriate care at home or in a private clinic. In the present day the intensity of health care needs has grown massively. Currently the objective of the...
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U.S. Special Committee on Aging. (2002) The Cash Crunch: The Financial Challenge of Long-Term Care for the Baby Boomer Generation. Washington Retrieved October 1, 2008
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