Medicaid costs for long-term care on the rise
Contemporary Long-Term Care Weekly, October 2, 2008
A report released September 29 by industry group America’s Health Insurance Plans states that Medicaid spending for long-term care will dramatically increase, according to Reuters.
People today live longer and, as baby boomers reach retirement age, the elderly population is growing larger than it has ever been. Reuters reports that, under current trends, Medicaid spending for long-term care is predicted to grow from $51.5 billion in 2008 to $115.6 billion in 2027.
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