MHA520 CASE 2 Management Essay Research Paper Coursework

Healthcare Finance Policy in the US
Name
Institutional Affiliation
Long-term Health Care
Introduction
Unlike in the past, where humans had a short life span, the struggle to increase one’s life period is ongoing in this 21st generation. Considering the fact that people’s body immune and functionalities keep on declining with an increase in age, there reaches a moment when long-term health care becomes the only living hope for the aged (Bahr, Spiro, & Calsyn). Admittedly, this is due to the recommended services that entail long-term care to the aged who cannot perform some daily activities. By the fact that many people seem to be busy, some homes and organizations have been formed with specialists in looking after the aged and ensuring they live longer than expected (Fong, Ng, & Yuen, 2017). Notably, some aged people hire the long term care service providers to their homes, while other aged are transferred to nursing homes. In the bid to the subject, this essay explores the mechanism of paying for long term care, financial and social differences of aging in place versus nursing homes, and finally gives a policy recommendation that best meets the needs of the aging population.
Mechanism for Paying for Long-Term Care
Paying for long term care, which costs within the range of $225 to $253 per day, may seem to be among the most expensive and stressful aspects in the lives of the aged. Notably, there are various mechanisms that one can follow to pay for care services. For non-insured adults, they can use their funds to have an opportunity of being eligible for long term care. In most cases, personal funding is acquired from savings, pensions, and retirements. In clearing personal funds for long term care, either credit cards, or hard cash is used. For those who pay in cash in a nursing home, the recommended amount is registered and when it should be added for the vulnerable person to find room in the nursing home (Fong, Ng, & Yuen, 2017). However, some people use credit cards to pay their bills and necessities for attaining long term care. In other words, they are given all the required care, and money is transferred from the bank accounts to the care takers' accounts through the means of credit cards. Therefore, this means the quantity of finance in the credit cards, determines how long the vulnerable person will be getting long-term care, hence making it inadequate.
Alternatively, some people are chanced to be paid for long term care by the responsible initiated government programs. Some of these programs include; National Council on Aging (NCOA), State Health Insurance Assistance Program (SHIP), Center for Medicare and Medicaid Services, and Program of All-Inclusive Care for the Elderly (PACE), which are highly supported by set by the government to deal with the handling the vulnerable. Getting assistance from these government organizations requires one to be a member with attachment to various terms and conditions (Fong, Ng, & Yuen, 2017). Ideally, the government provides such bodies with finance by their respective budgets and operations to serve the incapable people in society. It is then from that point that these bodies begin to register the eligible people for the lo...