Learning Plan 5AssignmentsLP5.1 Assignment: Aging ParentsPrepare a 3 page, double-spaced paper (cite...

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Learning Plan 5AssignmentsLP5.1 Assignment: Aging ParentsPrepare a 3 page, double-spaced paper (cite 3-4 reliable sources, make sure is APA format) that addresses the following scenario:You are helping your parents, ages 62 and 64, plan their retirement and financial future.• Research and discuss options for seniors' long-term care, including programs through Medicare, Medicaid, managed care, and other private insurance, etc.• What will you tell them about the potential need for, and costs of, long-term care? What about long-term care insurance?• How will you advise them to prepare financially to cover their health needs and related issues as they age, based on their income, current payer coverage and current and future needs? Be specific.• Detail trends affecting long-term care reimbursement and national spending from federal, state, and personal perspectives.

Robert · Accepted Answer

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1. Research and discuss options for seniors' long-term care, including 
programs through Medicare, Medicaid, managed care, and other private 
insurance, etc. 
There are several different options available for long-term care. These include: 
 Medicaid 
Medicaid is basically a multi-part initiative developed for providing a huge range of 
medical as well as custodial facilities to people who could not afford it (Altman and 
William, 2015). Medicaid LTC is considered as being a great advantage for those 
individuals who did not essentially hold the chance for accumulating much, and now 
requires LTC facilities beyond what their families would (or would) offer.  
 Medicare 
Medicare is essentially a single-payer, national social insurance initiative managed 
through the United States federal government ever since the year 1976, presently 
using around 30–50 private insurance corporations around the US under agreement 
for management (Altman and William, 2015). Medicare offers health insurance for 
people aged 65 years and above who have worked as well as paid into the system 
via payroll tax. Moreover, Medicare also offers health insurance to younger 
individuals facing disabilities status and individuals in last stage of renal disease as 
well as amyotrophic lateral sclerosis (Altman and William, 2015). Averagely, 
Medicare encompasses around half of the healthcare costs for people enrolled. 
People enrolled for Medicare need to pay the remaining expenses either through 
way of supplemental insurance, out-of-pocket or separate insurance.  
 Managed Care 
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Managed Care is basically a health care delivery concept planned for managing 
costs, quality and utilization. Managed care ensures delivery of health advantages 
along with additional provisions via contracted arrangements amid agencies and 
MCOs (managed care organizations) (Altman and William, 2015).

Learning Plan 5Assignments LP5.1 Assignment: Aging Parents Prepare a 3 page, double-spaced paper (cite 3-4 reliable sources, make sure is APA format) that addresses the following scenario: You are...

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