22 research outputs found

    "Caring for a Large Geriatric Generation: The Coming Crisis in U.S. Health Care"

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    The time has more than come to begin planning seriously for the aging of the baby boom generation. The need for planning goes beyond concerns about the solvency of Social Security and Medicare. Another crisis looms in the form of a huge bill for the care of baby boomers who in their old age will need help dressing, eating, taking medication, and performing other daily tasks. Under the current system, most nursing home care is paid for by Medicaid-a program designed primarily to subsidize the acute care of indigent families. This arrangement diverts health care resources from their intended use, thwarts the development of a long-term-care insurance system, and provides meager resources to heavily burdened providers, forcing them to skimp on care needed by a vulnerable population.

    "Can The Expansion Be Sustained? A Minskian View"

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    Hyman P. Minsky's insights into the relationship between profits, economic growth, and the public and private financial balances are particularly relevant to today's conditions. How can a Minskian view be applied to explain the processes that brought the economy to its current state and to recommend a policy stance for the future?

    Financing Long-Term Care: Options for Policy

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    The nation is ill-prepared to finance the quantum jump in long-term care spending that is on its way as the baby boom ages. By default rather than by design, Medicaid has become the main source of funds for long- term care. But reliance on Medicaid has fostered the institutionalization of the disabled elderly, has given rise to a two- tier care system, and has yielded the bizarre outcome of use of limited welfare funds by middle- and even high-income Americans who have succeeded in sheltering assets from Medicaid's spend-down requirements. Insurance would be a greatly better answer to the nation's long-term care needs. But the market will remain small and underdeveloped as long as Americans can make easy claim on Medicaid. The paper puts forth a plan for universal long-term care insurance, supported by income-scaled tax credits, to replace Medicaid in its current role. That would make for "honest government"β€”one that not only does not fund inheritance protection but also genuinely protects those with greatest need.

    Financing Health Care: There is a Better Way

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    Caring for a Large Geriatric Generation

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