U.S. Rep. Thomas Suozzi (D-Ny.) has introduced the Well-Being Insurance for Seniors to be at Home (WISH) Act, to help seniors fund their long-term care.
“We have a storm coming, with the number of disabled elders expected to double in the coming years,” Suozzi said in a statement. “Fewer family caregivers are available for these aging Americans and the market for long-term care insurance is not currently sufficient to address these demographic challenges.”
According to research by the Urban Institute, approximately 70% of seniors will require a high level of long-term care, yet most cannot afford the home-based care they will need.
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