Joe Scarborough: “Mr. Speaker, under our current health care system, access to long-term care services in the home and communities is…”

“Mr. Speaker, under our current health care system, access to long-term care services in the home and communities is influenced not just by one's health status, but by their location, economic situation and the availability of family support. A recent study of American Council of Life Insurers highlighted the need for private long-term care insurance. The study found that baby boomers' chances of ending their lives in a nursing home are far higher than most imagined, and the costs are projected to quadruple by the year 2030. Mr. Speaker, for middle-income families, the likelihood of receiving government funded care at home or in an assisted living facility is likely to remain small. Federal employees who plan ahead for their long-term care needs can potentially postpone or avoid institutionalization. If a substantial number of baby boomers purchase long-term care insurance now, consumer out-of-pocket costs for services such as home health care and adult daycare can be cut in half by 2030. Encouraging Federal employees and others to buy private long-term care insurance is also a winner for taxpayers.”