Long Term Care Insurance Association Praises Virginia LTC Vulnerability Report

Los Angeles; December 7, 2013 – Virginia, like many states, is faced with a serious problem as an aging population will be impacted by the need for long term care services.  A new report praised by the American Association for Long Term Care Insurance director  highlights some of the critical issues facing Virginia residents and taxpayers.

“The population of seniors age 85 and older is projected to more than quadruple between now and 2050,” explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, a national trade group based in Los Angeles, CA.  “Financing long term care in Virginia will become a huge problem and kicking the can down the road is fraught with enormous risk.”

The Association director praised a new report researched and written by Stephen Moses, president of the Center For Long-Term Care Reform and presented by the Thomas Jefferson Institute.  “This is a very well prepared look at the current environment that draws some very dire conclusions if we continue to hide our heads in the sand,” Slome explains.  “Kudos to Moses and the Center for another excellent look at the problem in an extremely fair and balanced way.”

“The cost for long term care paid by taxpayers through Medicaid programs are already straining budgets,” Slome notes.  “Medicaid consumes almost 17 percent of Virginia’s general fund expenditures, exceeding elementary and secondary education (15.8%).   And, it’s only going to get worse if nothing changes.”

The report outlines a number of recommendations designed to protect both the current welfare system for the state’s neediest as well as viable options that can assure individuals receive long term care services.  “Long term care insurance is definitely one of the options for those who can health qualify and can afford premiums,” Slome notes.  “Without it, you might just find yourself at the whim of whatever government programs may exist in the future or dependent on your family members to provide care.”

For additional information or for no obligation long term care insurance costs call the organization at (818) 597-3227 or visit their website at www.aaltci.org.

The full report can be accessed online at http://www.thomasjeffersoninst.org/files/3/LongTermCare.pdf

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