States Looking To Hold Down Medicaid Costs Encourage Residents To Purchase Private Long-Term Care Insurance
States increasingly are encouraging residents to purchase private long-term care insurance as a way to reduce Medicaid costs, the Wall Street Journal reports. In 2007, Medicaid spending for older adults’ nursing facilities and other long-term care reached $100 billion. As a result, 15 states are promoting LTC policies under marketing partnerships with the insurance industry, and more than a dozen other states are starting such partnerships.
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