Session: State Capitol, Room 514 Juneau, AK 99801-1182 Forwarded from FBX: 451-5501 Juneau Phone: (907) 465-3709 Fax: (907) 465-4714 Personal Web Site: www.garywilken.com Interim: 1851 Fox Ave. Fairbanks, AK 99701 Phone: (907) 451-5501 Fax: (907) 456-4714

Sponsor Statement for SJR 28
Long-Term Care Insurance

Urging dissemination of information about the costs of long-term care services and the availability of long-term care insurance for individuals.

Senate Joint Resolution 28 directs appropriate state and federal agencies to inform the public about the high cost of long-term care services and the need for families to plan, in advance, for their long-term care needs.

The fastest growing population group in Alaska is people who are 65 years or older. The senior community is growing about 5 percent annually while the rest of the population is increasing but a slight 2 percent. This growth rate could almost triple to 12 percent by the year 2018. In less than 20 years, seniors will comprise a significant proportion of Alaska's total population.

These rapid growth rates are coupled with the high cost of providing long-term care in Alaska. At an average of over $210 per day, Alaska's nursing home costs rank Number 1 nationwide; twice the national average cost of $92 per day. This incredible expense can have a disastrous effect on families, wiping out a lifetime of savings before the elder becomes eligible for Medicaid.

Widespread use of private, long-term care insurance has the potential to protect families from the catastrophic costs of long-term care services while, at the same time, reduce the burden on Medicaid as Alaska ages. But most Americans, 76 percent, do not believe they will ever need long-term care and, therefore, do not explore the option of obtaining private, long-term care insurance.

Senate Joint Resolution 28 directs the beginning of an educational campaign to inform Alaskans about the realities of aging and how individuals can protect themselves for the future.

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