In response to:

Reject CLASS 2.0 and Address Medicaid’s Looming LTC Crisis

rgarrett24 Wrote: Apr 28, 2013 9:06 AM
I believe the income from a $900,000 annuity would be $89,000 per year, not per month.

Editor's Note: This column was co-authored by Rep. Marsha Blackburn and Rep. Phil Gingrey

As we work to reign in wasteful spending and improve retirement security, our nation cannot afford to overlook Medicaid’s long-term care (LTC) financing crisis.

We’re completely unprepared for the coming “age wave.” More than 15 million Americans will be 85 years or older in 2040. While 7 in 10 seniors will need some type of Long Term Care (LTC) during their lives, only 1 in 10 seniors has private LTC insurance coverage. Almost 14 million seniors could suffer from Alzheimer’s in 2040, and the annual rate for...