One fairly substantial component of Biden’s plan is a boost in funding for at-home long-term care for the elderly and the disabled, with a price tag of $400 billion. Here are the (very limited) details of the proposal on the White House website:“President Biden’s plan will:Expand access to long-term care services under Medicaid. President Biden’s plan will expand access to home and community-based services (HCBS) and extend the longstanding Money Follows the Person program that supports innovations in the delivery of long-term care. Even though Medicaid has strict income and asset requirements for long-term care, it nonetheless covers about half of spending in the US on long-term care services, and those costs comprise 40% of all Medicaid spending. We will need solutions to the broader issue of Medicare funding, and the question of funding for long-term care for the elderly ought to be taken up as a part of this much bigger picture.

Source: Forbes April 16, 2021 21:56 UTC