KOHL TO HOLD HEARING ON LONG-TERM CARE COST SAVINGS
April 13, 2012
WASHINGTON – On Wednesday, April 18, Senate Special Committee on Aging Chairman Herb Kohl (D-Wis.) will convene a hearing entitled, “The Future of Long-Term Care: Saving Money by Serving Seniors.”
Of the $2.1 trillion spent in 2009 on all U.S. personal health care services, $294.4 billion, or 14.1%, was spent on formal, or paid, long-term care. The bulk of these costs – 71% or $209 billion – were paid for by taxpayers, largely through Medicaid ($126.8 billion) and Medicare ($62.6 billion.) And, patients and their families paid $52.4 billion in out-of-pocket expenses.
The hearing will focus on the long-term care system and opportunities for improving the quality of care while at the same time achieving significant cost savings. The hearing will also highlight the need, risks and costs of long-term care insurance, especially for working Americans.
WHAT: Senate Special Committee on Aging Hearing – The Future of Long-Term Care: Saving Money by Serving Seniors
WHEN: Wednesday, April 18, 2 p.m.
WHERE: Hart 216
WHO: Douglas Holtz-Eakin, Ph.D, President, American Action Forum and former Director of the Congressional Budget Office (CBO)
John O’Brien, Director of Healthcare and Insurance, Office of Personnel Management (OPM), Washington, D.C.
Loren Colman, Assistant Commissioner, Continuing Care, Minnesota Department of Human Services, Saint Paul, Minn.
Judy Feder, Professor and Dean, Public Policy Institute, Georgetown University, Washington, D.C.
Dr. Bruce Chernof, President and CEO, The SCAN Foundation, Long Beach, Calif.
The hearing will be webcast live from the committee webpage: www.aging.senate.gov