What can we understand long-term care models from home and abroad? – Retirement Research Center

My fascinating conversation with Ben Veghte, executive director of the Washington Nursing Foundation, covers innovative models of long-term care public financing and the Netherlands’ advanced nursing approach.

I asked Veghte that was an obvious problem for me in the plan – or maybe a flaw: $36,500 is not much given the high cost of care. He replied that the Washington program is a stepping stone in two ways to change social policies and beneficiaries for their care plans.

“This is the first step, the key first step. It is the building of universal reporting architecture, which is the basis for everything from now on.

He explained that the concept of universal reporting is a big change from the American perspective, and that everyone should take care of themselves until they are in trouble, only then, this is from a political culture perspective, bringing this from a private family problem to a common social problem to a common social problem. benefit. ”

Veghte recommends that even modest benefits can have a significant impact on informal home caregivers who need a breathing break. Additionally, by covering the first item of the cost, it can make private long-term care insurance more affordable. In fact, it allows people to buy private insurance and go through the massive deductions covered by the Washington Care Fund.

Washington is currently developing a nationally approved version of insurance. “For the first time since the 1990s, long-term care insurance can be used for teachers, firefighters, average people who want to buy an additional $50,000 or $100,000 coverage on top of the WA nursing benefits,” Veghte explained.

Dutch model

Veghte converts gears into other government models, describing how the Netherlands provides high-quality care at relatively low costs, partly because of the wider range of comfortable premium housing and the custom of older people leaving home to young families. Providing the care required in a congregation environment is much cheaper; these communities create social bonds and residents care for each other.

As Veghte further explained in a recent study, unlike the United States, the Netherlands has universal health coverage including long-term care. Veghte is also optimistic about other initiatives to increase housing options and services for older people. He suggested that through social investment, wealthy people may support housing cooperatives while still receiving moderate returns on investment, rather than the United States relying on tax credits to support the construction of low-income housing. The model has worked in the Netherlands and elsewhere in Europe.

Universal coverage

Veghte chose a program to recommend it to decision makers, returning to universal long-term care coverage. Medicaid is a zero-sum game, he explained. The only way federal and state governments can save money is by limiting eligibility or reimbursement rates. “The wave of age is increasing the number of cases we have. Every state in the country is currently dealing with this. However, with general reports, you have middle-income people and high-income people who all have stakes in the quality of care and they won’t endure the quality of services provided by Medicaid to their care providers.”

He believes most people will accept the necessary premiums. “Just like Social Security, if we ask parents, do you regret paying Social Security and Medicare?” You can’t find a single senior who said, “Yes, I really regret it.”

For more information about Harry Margolis, check out his risk in Senior Blog and Podcast in the United States. He also answers consumer real estate planning questions at Askharry.info. To stay up to date on the Squared Blog, join our free email list. You will only receive one email per week.