UPDATE: The Long-Term Care Financing Collaborative released its final report in February 2016! For more information, please click here.
Watch highlights from their press conference.
What is the Long-Term Care Financing Collaborative?
The Collaborative brings together national experts and stakeholders who cross ideological divides in pursuit of a common goal: to improve the way Americans pay and prepare for the non-medical care needed by our frail elders and people living with disabilities to live with dignity and autonomy through consensus-based, concrete policy recommendations.
What are long-term supports and services?
Long-term supports and services are non-medical assistance, such as food preparation, personal hygiene, assistive devices and transportation, as well as help with activities such as bathing and eating. Today, 10-12 million adults require supports that help them maintain the best possible quality of life, a number that is expected to double by 2030.
Why is long-term care important?
As our nation’s 78 million baby boomers age, demographic trends show declining availability of family caregivers and increasing reliance on paid care, either at home or in residential facilities. The out-of-pocket costs of such assistance can be catastrophic, and few people have the necessary resources, through savings or private long-term care insurance, to meet this need.
How can the Collaborative create change?
Concerned by the urgency of the problem and the failure of policy makers to reach agreement on viable solutions, a small group of stakeholders and policy experts began meeting informally in 2012 to discuss long-term care financing. The founders realized that a broader, more inclusive, and more formal effort was needed to develop stronger relationships based on shared values across ideological and party lines and to generate consensus-based policy recommendations on long-term care financing.
The Collaborative’s focus on building trusting relationships, consensus, and producing far-reaching and innovative proposals to improve LTSS financing positions it to cross ideological and party lines, generate consensus-based policy and leverage constructive ideas. Over the course of the project, the Collaborative has engaged additional key stakeholders for maximum impact.
In February 2016, the Collaborative released its final recommendations for providing effective and efficient long-term care delivery and financing. The Collaborative expects these recommendations to inform legislative as well as organizational and private initiatives, and include efforts to expand public awareness and develop momentum for change.