As we look to the New Year, I can’t help but consider the ways in which a Biden administration could impact community-based, long-term care facilities come January 2021. Based on what we’ve heard, the Biden initiative on Medicare would look to expand the program to provide more funding to long-term care services.
According to Forbes columnist and leading observer Howard Gleckman, when it comes to long-term care, Biden plans to spend $450 billion over the next 10 years in order to reduce states’ waiting lists for Medicaid home- and community-based services.
In addition, we know that Biden has also proposed increased survey frequency aimed at helping consumer decision-making, reinstating the ban on forced arbitration agreement, ensuring adequate staffing and training and requiring audits of nursing home cost reports and ownership data.
Biden will also have to perform a balancing act between financing of long-term care facilities with a post-virus strategy to re-open facilities to family members who have been unable to visit family members, which will involve providing access to quick, cheap and accurate virus testing and personal protective equipment.
According to Gleckman, “Once [the Biden administration] implements a [2020 virus] strategy, the administration will need to find a way to get facilities the resources they need, but also to create workable financial incentives that encourage them to improve quality in exchange for additional funding.”
Biden is also contemplating a roll back of several Trump administration temporary regulations, one of which being, “a waiver of the co-called three day rule that allows Medicare to shift costs for post-acute rehab and other care to beneficiaries if they had not been admitted to a hospital for at least three days before being transferred to a skilled nursing Facility.”
In another article entitled “4 Ways a Biden Administration Could Affect Senior Housing Businesses” by Tim Mullaney for Senior Housing News, those four ways include major investment in home care changes to real estate programs and policies, and pledges related to the caregiver and workforce.
According to Debra Cafar, CEO of Ventas, “With a moderate Democratic president, a Democratic House, and what will certainly be a closely divided senate, that will push us toward more consistency in policy, more moderation in policy, more likely to be steady as she goes – and that’s quite a favorable backdrop for Ventas, and hopefully for the country as well.” This article is in its entirety here.
With the election behind us, the hope is that all governmental bodies can find common ground and work together for post-virus relief and do so with the health of all Americans at the forefront.
As we continue to navigate the upcoming changes, please let us know if there is anything we can do to assist.
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