Who Should Pay for Long Term Care?
By jana on Jan 16, 2008 in Long Term Care
Reading up yesterday on New York’s Compact for Long Term Care got me thinking about personal responsibility and retirement. Much of the criticism of government aid (as well as the Compact) revolves around personal responsibility versus public responsibility.
The argument is that the current system of the government’s response to long term care encourages irresponsible spending behavior prior to retirement, transferring of wealth, and general misuse.
From my understanding, even if I don’t plan now for the worst case long term care scenarios before I retire, I can just use the government “safety net.” This thinking discourages me from purchasing long term insurance, building enough personal wealth, or talking to my family about taking care of me when I need it. My spending now outweighs society’s future wealth.
If it is true that you can tell a lot about a society by the way they treat their elders, does that include long term care?
Who should pay for my long term care? Me now or everyone else later?
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