Roll Call Newspaper features Phil’s op-ed on long-term care
In today’s Roll Call Newspaper, Phil opines on the long-term care crisis facing our nation - and what Congress can do to prevent it. Phil explains:
With the baby boomer generation set to retire, the U.S. is verging on a long-term care crisis. Millions who haven’t planned for this expensive stage in life are rapidly approaching it. Since Medicare doesn’t cover most long-term care, these costs can quickly bankrupt seniors whose assets preclude them from Medicaid coverage.
This has left many Americans with two unappetizing choices: to quickly burn through their savings paying for long-term care, or to hide their assets and get the government to pay for their care through Medicaid. The first is unfair to seniors who have worked hard to save for retirement. The second is unfair to taxpayers who don’t want to see skyrocketing Medicaid spending due to abuse in the system.
Phil also cautions that Congress take the right approach to reform:
As Congress looks for solutions, we must take care not to create more problems. Entitlement spending has ballooned over the past decade, rapidly engulfing a growing portion of our federal budget. To make our long-term care system sustainable and affordable, Congress needs to pass market-based reforms and encourage individuals to take responsibility for their long-term care needs.
Click HERE to read Phil’s recomendation for fixing this problem - and assuring seniors can better afford their long-term care needs.
