Tag: long-term care
Most people think of Medicare – not Medicaid – when considering government health care for older Americans. However, Medicaid, the program that covers the medical expenses of the poor, spends over $132 billion a year – 20 percent of its budget – on individuals ages 65 and over. Elderly beneficiaries include both those with low…
Long-term care is the major uninsured expense for most retirees. Neither private health insurance nor Medicare covers long-term care expenses, although Medicare provides for care in a skilled nursing facility for up to 100 days following hospitalization. Long-term care insurance is available in the private market, but less than 5 percent of people purchase plans. …
