29
Sep

Medicaid long-term health care costs to soar

   Posted by: Joshuah   in Husbandry

The money will never be there in sufficient quantity to take care of all these elderly.  This is all the more reason to come together in a Biblically Patriarchal multi-generational family, where the needs of the elderly are met with the proper levels of love and commitment, and do not rely on the State to meet your needs at any age, as they will always let you down.

“Honor your father and your mother, that your days may be long in the land that the LORD your God is giving you.   Exodus 20:12

“But if anyone does not provide for his relatives, and especially for members of h peopleis household, he has denied the faith and is worse than an unbeliever.”  1Timothy 5:8 

Source: Reuters

Fueled by the needs of a growing elderly population, spending on long-term health care under the Medicaid program will soar in the next 20 years, a report released Monday predicted.

Spending for long-term care for elderly and disabled people under the Medicaid health insurance program for the poor will total $3.7 trillion in the next two decades, according to the report by America’s Health Insurance Plans, an industry group.

That includes $1.6 trillion projected to be spent by individual U.S. states and $2.1 trillion in federal money, according to the report. Long-term care includes nursing homes and in-home care for people unable to live independently.

“Medicaid’s position as the payer of last resort for long-term care — despite the presence of long-term care insurance available in the marketplace today — will continue to create budgetary difficulties for states and the federal government over the next two decades,” the report read.

Full Story…

This entry was posted on Monday, September 29th, 2008 at 4:33 pm and is filed under Husbandry. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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