Last week, Rep. Thomas Suozzi (D-NY) introduced a new bill in Congress—the Well-Being Insurance for Seniors to be at Home (WISH) Act. The proposed bill would consist of a public-private partnership using funds from Social Security contributions as well as affordable plan options from insurance companies to cover catastrophic care for those who need it.
The main objective of the WISH Act is to preserve the Medicaid program and protect millions of U.S. citizens from financial devastation in the face of long-term care. The plan would allow older Americans to age with dignity at home while also creating millions of jobs in the home health care field.
According to a recent study by the National Investment Center for Seniors Housing & Care (NIC), millions of middle-class seniors in the U.S. in 2029 will not have enough funds to cover senior housing or at-home care. The WISH Act is intended to address these forthcoming financial and long-term care needs.
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