Thursday, December 27, 2012
Medicaid to Remain Leading Payment Source
According to The Elder Care Services News letter by Freedonia Industries, Mediciad, which pays for adult day care, will continue to be the leading paument source for the elder care services industry despite efforts at the state and federal levels to curb expenditures. Medicare payments will experience the fastes annual growth, though furture legislative changes and fluctuating reimbursement rates have the potential to affect that outlook. Out-of-pocket expenditures continue to be important in the continuing care and assisted living industries, as many of the costs of these services are not covered by Medicare or Medicaid. Private insurance coverage will rise as the aged population grows and individuals who doubt the government's ability to provide future care purchase long term care insurance. Other payment sources include chairitable donations, private grants, and other government resources such as US veterans'Adminsitration.