Brief Can Catastrophic Insurance Improve Financing for Long-Term Services and Supports?
Melissa M. Favreault, Howard Gleckman, Richard W. Johnson
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A catastrophic insurance program could improve the way long-term services and supports are financed. The program would require enrollees who need care to wait a few years before they could collect benefits, but then it would provide those benefits as long as necessary. Our modeling results show that such a program could reduce Medicaid spending and provide financial relief to hard-pressed states. It could also reduce out-of-pocket spending for families facing catastrophic costs and fund new services and supports. By setting aside funds to cover future spending, a catastrophic insurance program could also raise national saving.
Research and Evidence Health Policy Tax and Income Supports Technology and Data
Expertise Medicare and Medicaid Taxes and the Economy Microsimulation Modeling Aging and Retirement
Research Methods Dynamic Simulation of Income Model 4 (DYNASIM4)
Tags Medicaid and the Children’s Health Insurance Program  Long-term services and support Retirement policy