Currently, 12 million Americans need long-term care<\/a> financing. By 2050, that number will reach a gaudy 27 million. Hundreds of long-term care experts gathered in Washington, D.C. at The Scan Foundation to discuss private and public options for the masses in need of a solution.<\/p>\n (Read more: Skilled Nursing Facilities Face Harsh Reality and Financial Pressures<\/a>)<\/p>\n Congress recently approved the formation of a bipartisan commission on long-term care, tasked with providing recommendations on meeting the nation\u2019s needs for affordable long-term care <\/a>services and support. Direct spending for long-term care services in the United States was $211 billion in 2011, with Medicaid covering more than 62 percent of the bill.<\/p>\n \u201cAmericans today are not prepared to finance their future care needs, and have few choices to adequately plan for this very likely time in their life,\u201d said Bruce Chernof, M.D., president & CEO of The <\/a>(more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Social Insurance is a Critical Base for Achieving Universality and Efficiency. Currently, 12 million Americans need long-term care financing. By 2050, that number will reach a gaudy 27 million. Hundreds of long-term care experts gathered in Washington, D.C. at The…<\/span><\/p>\n