Thursday, November 17, 2011
Nursing Home Care --What will happen?
The Community Living Assistance Services and Supports (CLASS) program, a part of the health-reform law, established a national, voluntary insurance program for purchasing community living services. It was designed to expand options for people who require long-term help. But in mid-October, the Obama administration shut down the program, saying it was not financially feasible.
According to the Urban Institute, relatives of the aging struggle to balance their elder-care duties with employment and other family responsibilities, and the care they provide equates to some $375 billion a year. At the moment, the options for paying for long-term care are limited. Medicare doesn't cover all that much and just 12% of adults age 65 or older have private insurance, according to the Urban Institute. As a result, many families pay out of pocket until they exhaust their resources and turn to Medicaid.
Read about the problems in an article written by Robert Powell on yahoo at http://finance.yahoo.com/focus-retirement/article/113775/long-term-care-insurance-marketwatch?mod=fidelity-livingretirement&cat=fidelity_2010_living_in_retirement
William Wombacher, your Central Illinois Certified Elder law Attorney and Social Security Disability Specialist, I''ll help you!, www..wombacherlaw.com
Serving Peoria, East Peoria, Pekin, Dunlap, Chillicothe, Morton, Washington, Metamora, Canton and surrounding cites and counties in Central Illinois