Long-Term-Care Insurance

Question: Discuss about long-Term-Care insurance and relation to nursing advocacy. Answer: Health care insurance policies are trends gaining popularity at high rates more so on the long term basis. Unfortunately, (Greenhalgh-Stanley, n.d.) says that the premium hiking trend is becoming a disadvantage because it seems to have no end shortly. As a matter of fact, the premiums did rise by 174 percent from what it was in June 2003. Only a small portion of the insured who manage the new rates. Consequently, some people have already called upon the state to curb the premiums (Greenhalgh-Stanley, n.d.). According to an article by Steve Jordon, the new premiums have great impacts on all the current policy holders which are both the new and old. Those who feel more of the burden are those on long-term-care policy. The insurance companies also make reducing plan sales at a range of between five to ten percent per year; this reduction is as a result of customers opting not to buy the premiums anymore. Relation to Nursing Advocacy The nursing advocacy fights for or struggles to foresee the implementation of quality services to the beneficiaries of the long-term care insurance policies. The nursing departments are mandated with the responsibility to fight for fair treatment to the recipients. For instance, it is their sole duty to fight for the stoppage or generally control of the manner in which the insurance premiums get hiked unevenly. It is unfair to the policyholders to finance the systems at the high rates which can rise to the extent of consuming the familys income, this trend losses the initial purpose from a nursing home policy to a financial planning move. The long-term care insurance has potential application to policy legislation because it will assist in cushioning the policyholders against the excessively overrated hikes of the premiums. Furthermore, it will provide solutions on how firms offering the policies can make arrangements to have an increase of the premiums over an extended period of two to three years instead of the one-time hike. The extended time allows the beneficiaries to adapt to new means of making payments towards the insurance policies. Nursing advocacy holds a similar principle as the long-term care system because they are both based on the principle of caring for the future by making preparations today. Advocating for the empowerment of nurses is highly beneficial for caring for the aged in their sunset years. It is nurses who care for the senior citizens in hospitals and at homes for the elderly. Similarly, these long-term care policies are plans for financial care in the future. As part of the nursing fraternity, nurses should care for this topic as it points to a matter that concerns medical practice in line with their medical practice. Everybody requires access to affordable medical care in their old age, this all important service is enabled by long-term health policies and health services from the nursing fraternity. References Greenhalgh-Stanley, N. Can the Government Incentivize the Purchase of Private Long-Term Care Insurance? Evidence from the Long-Term Care Partnership Program. SSRN Electronic Journal. https://dx.doi.org/10.2139/ssrn.2316849