On Thursday, September 21, the Assembly Aging and Long-Term Care Committee will be hosting an informational hearing on financing long-term services and supports.
The hearing, which will be held at the Santa Clara Board of Supervisors Chambers in San Jose, will discuss the current long-term care financing system, structural changes that need to be addressed, and the related efforts throughout the state to create a more equitable financing system for middle class Californians.
LeadingAge California, seen as a leader in this area among the Legislature, has been invited to provide comments at the hearing on our organization’s related efforts in California.
At the hearing, we will be stressing need for a fairer long-term services and supports (LTSS) system, due to both the greater need for these services, as well as the related caregiving needs that have increased with the aging of the population.
The cost of LTSS are expected to grow rapidly in the coming years, doubling by 2025 and multiplying five times by 2045. We believe that as people live longer and baby boomers grow older, the need for LTSS will increase significantly, both in numbers and as a percentage of the U.S. population, with its cost far surpassing the capacity of families to provide, depleting personal resources and outstripping public financial resources. Simply put, we believe that our state, and this country, cannot meet their long-term services and supports needs.