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  • I’d like to start this morning with a quote from former First Lady Rosalynn Carter. She said, "There are only four kinds of people in this world, those who have been caregivers, those who are currently caregivers, those who will be caregivers, and those who will need caregivers."

Transcript

  • 1.  
  • 2. Making It Affordable for People to Care A Long-Term Care Solution from AAHSA
  • 3. From ABC’s World News Tonight
  • 4. What is Long-Term Care?
      • The broad array of services and supports that people of all ages need when they can no longer completely care for themselves.
      • Long-term care services and supports include: help with bathing, dressing, or with household tasks like cooking and cleaning.
      • These services and supports may be provided by a person’s family members or by paid caregivers.
  • 5. The Scope of the Challenge: Young and Old
  • 6. Where Is Care Provided? 80% at home 20% institutional setting
  • 7. 35.4 Hours Per Week Caregiving Commitment Family Caregivers – What They Spend, What They Sacrifice, November 2007
  • 8. Caregiving Commitment 5+ years 32% 52% 3+ years
  • 9. Who Pays? Private Insurance Public Funding 4% 28% Families and Unpaid Caregivers 68% Families/Unpaid Caregivers 68%
  • 10. $5,531 Annual cost of care Personal Financial Commitment Family Caregivers – What They Spend, What They Sacrifice, November 2007
  • 11. Cost Implications for Businesses Cost Implications for Government Source: Metlife Mature Market Institute and National Alliance for Caregiving, July 2006 Source: AAHSA estimate for 2007, based on data for 2006 in "Medicaid and long-term care" fact sheet, Georgetown University Long-Term Care Financing Project, January 2007 $2,000 per employee $100 billion
  • 12. Rose’s Story
  • 13.  
  • 14.  
  • 15. Number of Adults 65 and Older Requiring Assistance Number in millions Severely Disabled Moderate Disabilities 2010 2020 2030 2040 25 20 15 10 5 0 Source: The Retirement Project, 2007, by Johnson, Toohey and Wiener 7.7 8.9 6.3 13.0 3.3 3.7 5.0 14.5
  • 16. The Long-Term Care Solution A Framework for Financing Long-Term Care in America
  • 17. Who is AAHSA?
    • A non-partisan, non-profit advocacy group representing not-for-profit aging services providers
    • Members serve more than two million persons daily
    • Mission to create the future of aging services
  • 18. Widespread Concern About Long-Term Care Reform 74% Very Important 20% Somewhat Important 94% Very or Somewhat Important Source: National Commission for Quality Long-Term Care, 2007
  • 19. Widespread Support For A Voluntary Contribution System 46% 31% Source: National Commission for Quality Long-Term Care, 2007
  • 20.  
  • 21. The Long-Term Care Solution
    • National insurance trust
    • Broad-based consumer participation
    • Cash benefits optimize choice
    • No underwriting
    • Available to all adults regardless of age
    • Medicaid as safety net
  • 22. Premium Prices Example Plan: includes all age 21+, 5 year vesting, $75/day cash benefits for disability (2+ADLs) Source: “Modeling a New Long-Term Care Financing Plan,” The Moran Company, December 2007 Number of Years of Covered Benefits Annual Daily 1 $266 $0.73 2 $465 $1.27 3 $614 $1.68 5 $806 $2.21 Lifetime $1,048 $2.87
  • 23. Choice Responsibility Fairness
  • 24. 73¢/day = 1 year’s worth of benefits
  • 25. $1.68/day = 3 years’ worth of benefits
  • 26. $2.87/day = Lifetime benefits
  • 27. The Long-Term Care Solution The Choice is Ours
  • 28. Moral Imperative Fiscal Imperative Political Imperative
  • 29. The Time is Now
  • 30.