Medical and Long-Term Care Costs When Older Persons Become More Dependent

Purpose Among the ten Canadian provinces, Quebec has experienced the most significant excess mortality of older persons during COVID-19. This practice paper aims to present the chronology of events leading to this excess mortality in long-term care facilities (LTCFs) and a comprehensive analysis of the phenomenon. Design/methodology/approach Documented content from three official sources: daily briefings by the Quebec Premier, a report from the Canadian Armed Forces and a report produced by Royal Society of Canada experts were analysed. Findings Two findings emerge: the lack of preparation in LTCFs and a critical shortage of staff. Indeed, the massive transfer of older persons from hospitals to LTCFs, combined with human resources management and a critical shortage of permanent staff before and during the crisis, generates unhealthy living conditions in LTCFs. Originality/value To our knowledge, this paper is the first to analyse official Quebec and Canadian statements concerning COVID-19 from the angle of quality of life and protection of older adults in LTCFs.

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Review on Pricing Models for Long-term Care Insurance

Malaysian Journal of Science Health & Technology ◽

10.33102/mjosht.v5i1.130 ◽

2021 ◽

Vol 5 (1) ◽

Author(s):

Muhammad Syakir Asrulsani ◽

Mazlynda Md Yusuf

Keyword(s):

Activities Of Daily Living ◽

Daily Living ◽

Long Term Care ◽

Financial Burden ◽

Term Care ◽

Protection Mechanism ◽

Long Term Care Insurance ◽

Risk Protection ◽

Care Costs

Funding for long-term care costs among elderly people is a critical matter, especially due to high costs and an unexpected length of time. Placement for long-term care that is funded under Jabatan Kebajikan Masyarakat (JKM) is very limited, hence, the next option is through private nursing homes. However, the cost could be up to RM 2,000 a month for each person. Therefore, Long- Term Care Insurance is an alternative to fund for Long-Term Care costs as it is expected to reduce financial burden during old age. It is a risk protection mechanism for an insured that needs health and financial protection when an individual is unable to do activities of daily living (ADL) or supports in instrumental activities of daily living (IADL). This paper reviews three models that have been used in pricing long-term care insurance. All three models use the equivalent principle of premium to price the insurance policy. However, the probability and assumptions used for each model differ, depending on the insured's needs and profile.

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Tax Relief, or Lack Thereof, for the Long-Term Care Costs of the Aging Population in America

The ATA Journal of Legal Tax Research ◽

10.2308/jltr.2009.7.1.99 ◽

2009 ◽

Vol 7 (1) ◽

pp. 99-120

Author(s):

Cynthia Blanthorne ◽

Mark M. Higgins

Keyword(s):

Long Term Care ◽

Aging Population ◽

The United States ◽

Term Care ◽

Adult Individual ◽

Raising Children ◽

Head Of Household ◽

Tax Relief ◽

Care Costs

ABSTRACT: As the health and longevity of Americans continue to improve, adult children caring for aging parents—possibly at the same time as raising children of their own—is becoming a national phenomenon. This paper examines current and proposed income tax relief for taxpayers who provide financial support for the long-term care of an adult individual (e.g., parent of taxpayer). Four specific tax relief options are evaluated: dependency exemption, head of household filing status, medical itemized deduction, and dependent care credit. The current tax law is not structured to encompass the unprecedented issue of the long-term care costs of the aging population in the United States. In response, various options are introduced to advance the discussion of tax policy alternatives.

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