Report: Medicaid long-term care spending to skyrocket over next 20 years
Long-term care providers are participating in 'most ambitious test' of bundled payments, CMS announc
Over the next 20 years, federal and state governments are expected to spend $3.7 trillion on long-term care expenses, the report said. Between 2008 and 2027, annual Medicaid long-term care expenditures are projected to grow by 124% from $51.5 billion to $115.6 billion. AHIP represents most of the nation's commercial insurers. Researchers at Strategic Affairs Forecasting and Paul A. London Associates conducted the report.
Too many people believe that Medicare will help pay for long-term care expenses, when actually it will provide only a limited amount of rehabilitative care, according to report authors. Up to two-thirds underestimate their potential need for long-term care, they note.
The report is available at http://www.ahip.org/content/default.aspx?docid=24597.