Long Term Care

1401 Words Nov 10th, 2008 6 Pages
Looking at the imminent departure of the once baby boomer generation, it is critical the community be well-informed regarding development economically for possibility of long-term care and that the legislative policy creators offer motivation for this type of preparation. The private sector tax offer alternatives such as 401(k)’s and IRA’s are an sign of motivation to bank funds aside when able to, but other alternatives have to be developed if a person wants to be ready for the future demands on long-term care. This incredible boost will have needed to combine both public and private sector initiatives. Medicaid, Self-pay, or insurance companies could cover long-term care expenses. The increasing life period of Americans offer added …show more content…
La Paloma advertises its recreational facilities for the elderly as its primary draw with the medical care being secondary. Both facilities operate on a non-profit basis and both provide independent apartment living, assisted care living, skilled nursing, and memory support facilities. La Paloma doesn't provide long-term care facilities, whereas Living Communities does (La Paloma, 2005).
There have been two main drivers to the factors that have influenced long-term care. The first driver is the exponential increase in medicine and pharmacology. This has allowed more people to live longer by not suffering an annual winter disease decimation of their numbers and enabled them to live longer with chronic diseases. The second driver is federal funding either directly via reimbursement for services or indirectly via pension payments as well as direct funding for construction. These all create demand for facilities and services. More than any other factors it was both the proprietary construction funding of 1959 and OBRA that have structured the current long-term care environment.
Very few people possess an ample enough financial position to afford long-term care from their own funds. A few have prepared by purchasing annuities or long-term care insurance, but these numbers are small. By the time that most people enter long-term care they have multiple chronic diseases and have exhausted their personal wealth on direct medical care. The great majority of people depend upon

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