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A New Report Highlights the Escalating Cost of Long-Term Care
Fully produced report in MP3 format:
48 kbps |
96 kbps
(65 seconds)
-- How Will You Use This Story? --
(OPEN):
THE AMERICAN COUNCIL OF LIFE INSURERS RELEASED A REPORT
THIS WEEK [THE WEEK OF DECEMBER 5TH] THAT SOUNDS THE ALARM ON THE
NATION'S GROWING LONG-TERM-CARE CRISIS. THE REPORT HIGHLIGHTS THE
ESCALATING COST OF LONG-TERM CARE TO BOTH INDIVIDUALS AND THE MEDICAID
SYSTEM. A-C-L-I PRESIDENT AND C-E-O, FRANK
KEATING, EXPLAINS...
(KEATING):
"TODAY, A ONE-YEAR STAY IN A NURSING HOME, WITH A PRIVATE ROOM,
AVERAGES NEARLY 70-THOUSAND DOLLARS. AND, COSTS ARE RISING.
OUR NEW REPORT--'LONG-TERM-CARE INSURANCE OR MEDICAID: WHO WILL PAY
FOR BABY-BOOMERS' LONG-TERM CARE?'--ESTIMATES THAT, BY THE YEAR
20-30, THE SAME STAY WILL COST ABOUT 190-THOUSAND DOLLARS. THAT'S
TOO MUCH FOR MOST AMERICANS."
(CLOSE):
THE A-C-L-I REPORT POINTS OUT THAT MEDICAID--WHICH FUNDS LONG-TERM-CARE
EXPENSES FOR MILLIONS OF RETIREES--ALREADY IS OVERWHELMED.
A-C-L-I BELIEVES THAT WORKERS TODAY ARE MAKING A MISTAKE IF THEY ARE
RELYING ON MEDICAID TO ADDRESS THEIR FUTURE LONG-TERM-CARE NEEDS; THE
BEST WAY TO PROTECT RETIREMENT SAVINGS--AND MAINTAIN INDEPENDENCE IN
LATER LIFE--IS THROUGH THE PURCHASE OF LONG-TERM-CARE INSURANCE.
FOR MORE INFORMATION, VISIT
W-W-W-DOT-"A-C-L-I"-DOT-COM.
