The Bipartisan Policy Center, a Washington (DC) based group that develops consensus policy solutions, has proposed a series of reforms aimed at helping families finance long-term care for themselves and their loved ones. The proposal aims to encourage more people to buy private long-term care insurance, including through Medicare, and would provide a new Medicare respite benefit for family caregivers.
BPC’s latest proposals come about 18 months after the group suggested a package of initial financing ideas, including better access to workplace-based long-term care insurance and general support for the concept of public catastrophic insurance. This week’s proposals were relatively modest. And the group failed to agree on the details of a catastrophic program. Still, while the new report falls well short of fixing the nation’s long-term care financing problem, it does address some key issues.