OK, so it’s my birthday. Perhaps it’s because of all the attention (and presents) I’ve been getting, but I sense some good things on the horizon—at least in Washington.
I’m speaking specifically of the economic stimulus package. While nothing has been passed, it appears that nursing homes may come out relatively well in this deal.
What seems to be sure is there will be an increase in the Federal Medical Assistance Percentage—a long fought-for provision by the nursing home industry. The House version includes an $87 billion increase in FMAP funding. This is the federal government’s share of a state’s expenditures for Medicaid.
And today, Sen. Herb Kohl (D-WI), chair of the Senate Special Committee on Aging, amended the Senate stimulus package to ensure that long-term care facilities are eligible for health information technology funding.
Still other provisions that may make it to the deal’s end include an extension of a moratorium on six onerous Medicaid rules and an amendment to ensure that no reductions could be made to Medicaid reimbursements for long-term care facilities. All are positive developments.
Of course, an economic stimulus package—no matter how loaded with goodies—will not solve the mess around us. You just have to look at the layoff numbers from various industries this week to recognize that. Even the most optimistic person has to feel a little disturbed by the number of jobs being shed.
Also worrisome is a report today from the National Investment Center for the Seniors Housing & Care stating that seniors housing is beginning to feel the effects of the financial crisis in the areas of loan performance and capitalization rates.
In light of this disturbing news, some much-deserved help for long-term care from Washington is all the more appreciated.
