Ron Leiber, Money columnist for the NY Times writes about how the Medicaid debate impacts decisions regarding long term care insurance. His article begins as follows:
The latest version of the Senate’s health insurance bill appeared on Thursday, and it didn’t do much to change the drastic reductions in Medicaid spending that were in the original legislation. Here’s why that’s important to nearly everyone, even people who are reasonably affluent for now: As I’ve explained in two recent columns, Medicaid is the backstop for retirees who run out of money but still need home-based care or must move into a nursing home. Medicare generally doesn’t cover those costs, and they
See full article at: How the Medicaid Debate Affects Long-Term Care Insurance Decisions – NYTimes.com
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.