Failure to Thrive? Long-Term Care’s Tenuous Long-Term Future

Abstract

According to the U.S. Census, by 2030 there will be an estimated 3 million more 85-and-older residents than there were in 2012, and that growing demographic will have long-term care needs that states will struggle to meet, based upon current Medicaid funding challenges nationwide. There is no national strategy for addressing this "Silver Tsunami" of an age wave, as public policy debate instead focuses on the Affordable Care Act, opioid crisis, and other issues. As one policy expert states: "Long-term care is absolutely the stepchild of health care on multiple dimensions." This article addresses funding for the continuum of long-term care: nursing homes, assisted living facilities, and in-home care. It then offers some thoughts as to how we can address the governmental costs of long-term care and secure a more stable future.

Keywords: Long-term care, Medicaid, aging

JEL Classification: I13, I14, I18