I-2124 Will Kill Nation’s First Long-term Care PRogram
In a column published by the Everett Herald, MIT Professor Marc Cohen asks “If you needed long-term care, could you afford it? For many Americans, especially those with a middle-class income and little savings, the answer to that question is absolutely not.”
“Private long-term care insurance premiums for women in their mid-50s, for example, can cost nearly $1,500 a year. And that’s on top of what someone is already spending on their health insurance. For someone older, their premium would be higher; about $2,700 per year for a woman buying a policy at age 65.
That leaves out at least 43 million people over 65, about 75 percent of Americans in their golden years, who would be stuck footing the bill should they require assisted living, in-home nursing or round-the-clock care in a nursing home.
This system isn’t working for anyone. It provides low-quality care that’s delivered by low-paid workers, and it can put pressure on family caregivers to make do without outside help.”
He goes on to say:
“The group Let’s Go Washington, funded by hedge fund executive Brian Heywood, is trying to eliminate WA Cares by making it voluntary.
That would undermine the program’s financial stability, making it unworkable. And Washington state might have to start over.”
