Excerpt from: U.S. News (click for full article)
The elderly have always needed help in their later years. It has come mainly from family members, and this continues to be the case. But today's family is far smaller and more likely to be geographically scattered than in the past. These trends are expected to become more pronounced. Add in rising numbers of older Americans and the outlook is for a nation increasingly unable to have the time or money to take care of its older citizens.
Obamacare recognized this problem. Led by efforts of the late Sen. Ted Kennedy, the law included an employer-based long-term care insurance program. Employees would have paid the premiums and the level of coverage was modest. But it would have added a layer of protection that does not exist for most people.
To get votes to pass the program, however, it was approved as a voluntary benefit and not as coverage everyone had to get. This universal aspect of insurance is crucial to health care reform. If only sicker people had to get health insurance, their costs would be very high. Healthy people would not feel the need to buy it and would not offset the expenses incurred by those most likely to use the product.
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