Financing Long-Term Services and Supports: Seeking Bipartisan Solutions in Politically Challenging Times
Over 12 million adults in the United States rely on long-term services and supports and the need is expected to rise dramatically in the coming decades.
For those who lack sufficient personal resources to pay out-of-pocket, Medicaid is the primary payer of LTSS costs. Medicaid is expected to cover about 34 percent of average lifetime LTSS costs of people turning 65 today.
1 Melissa M. Favreault and Judith Dey, Long-Term Services and Supports for Older Americans: Risks and Financing Research Brief, ASPE, 2015. Available at: https://aspe.hhs.gov/basic-report/long-term-services-and-supports-older-americans-risks-and-financing-research-brief.
a BPC, LeadingAge, and The Long-Term Care Financing Collaborative issued separate recommendations outlining a public-private approach to financing LTSS. Additional information available online at: http://www.thescanfoundation.org/side-side-review-long-term-care-financing-policy-recommendations (Accessed June 19, 2017).
Milliman, Inc. conducted analysis at BPC’s direction in support of this report. The complete results of the Milliman analysis are available here.