Translating high quality research specific to better design and building practice

Research Library

The HMinfo Research Library contains an in-depth collection of materials on home modifications and related subjects.

The Research Library does not lend books and other items. Under special circumstances, requests to use the library may be made by emailing .

Library Search

 

Long term care financial strategies for the elderly.

The CPA Journal

Author: Clapp, A. C.
Type: Journal Article
Year: 1993

Abstract:

More than half of the 31 million Americans over the age of 65 will need long-term-care (LTC) services, but very few of them have adequate LTC financial plans. Medicaid was established in the 1960s to help the poor and, later on, the middle class who cannot pay for their own medical expenses. Aside from Medicaid, another option for financing elder care is becoming a member of the Continuing Care Retirement Community or of other housing or hospital programs. About 2.4 million elderly Americans have chosen to purchase long-term-care insurance (LTCI) policies to fund LTC services. Most people buy LTCI in the hope that premium costs will be considerably less than the cost of LTC services that may be required in the future. LTCI is also cheaper than private medical insurance. The design standard provisions, terms and provisions, and taxation of LTCI are discussed. Other LTC funding strategies are also described.

Further Details

Pages: 20-29
Volume: 63
Issue: 3
Accession Number: August, 2010
Keywords: North America, older, health improvement
Reads: 195
Back