As aging baby boomers swell the ranks of elderly Americans, we’re nowhere near a solution to providing the long-term care services many of them will need. Researchers at the Urban Institute have been examining the spending tradeoffs between two public long-term care insurance programs: a catastrophic plan and a short-term plan that would pay benefits up front. Both would be financed through a payroll tax. They also explored how differences in the timing of payouts would affect consumers’ and government spending.
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