The Senate just released the newest version of its health insurance bill last Thursday. The most current form of the bill has not done much to mitigate the drastic reductions in Medicaid spending seen in the original bill. Regardless of possible cuts, it is clear that the federal and state governments are not going to be able to maintain current spending levels for aging baby-boomers as they consume more health-related services. A common question for those concerned with coverage is: “How seriously should I consider getting some kind of insurance to cover my care in case big Medicaid cuts are on the horizon?” The insurance market for long-term coverage can be extremely expensive, if you can even qualify for coverage. There is a balancing act required that must consider high premiums and not using the insurance on one side, and not paying for insurance and needing it on the other.
Though the current, heavily regulated and subsidized healthcare market is costly and inefficient, some are hoping that Big Brother will deign to meddle in the long-term care sector as well. While the federal and state governments may be able to kick the can down the road for a bit longer, a call for additional subsidies in the face of desperately needed cuts seems like trying to remove the mote from your brother’s eye whilst ignoring the plank in thine own.
See Erik Jacobs, How the Medicaid Debate Affects Long-Term Care Insurance Decisions, The New York Times, July 14, 2017.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
