Increasing Costs of Long Term Care

According to a study conducted by America's Health Insurance Plans, it's projected that the money spent on long term care through Medicaid will be over $3.7 trillion between the years 2008 and 2028.  It is expected to increase at a speedier rate than the America's gross domestic product and America's overall health care spending, combined.

In America, financing mostly relies on the combined state-federal Medicaid program, which pays for over 40% of the total money spent on long term care. 

If this current trend continues, states will have to allocate over 35% of their budgets to pay for Medicaid by the year 2030, with half of that being spent on long term care. 

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