Long-Term
Medical Expenses
The
Need for a New Business Model
Research
is needed to discover and evaluate different business models for
financing long-term medical expenses. These expenses, also known as
independent living services, include
personal assistant services, durable medical equipment, long term
therapies, and maintenance drugs.
The
federal government grants more than $100 million per year to academic
and professional research centers to study issues that affect the
population of people living with disabilities, primarily focused on
policy-related issues There is an enormous amount of data and
information about people living with disabilities, particularly
related to demographics; barriers and facilitators to employment; the
relationship between disability benefits policy, work and economic
well-being; and the costs of living with a disability. Despite
wonderful laws including Americans with Disability Act that have
significantly improved the lives of people with disabilities, the
economic well being of most people with disabilities continues to be
dismal.
I'm
thrilled that many agencies and an increasing number of financial
institutions offer services that provide customers with disabilities
and their support community with information, advice and guidance
that aims to improve their financial health. Expanded use of ABLE
accounts and Special Needs Trusts will positively impact the people
with disabilities' economic conditions. I'm also thrilled that there
is a renewed focus on job development and employment for people with
disabilities. However, I do not expect that any of these efforts
will significantly 'move the needle' re people with disabilities'
financial health.
There
is an underlying prevalent paradigm and business model that inhibits
significant improvements in the financial health of people with
disabilities from occurring. Too many agencies, including Social
Security, still defines disability as an inability to work. Too often
financing independent living services is only available to people
living in poverty. These services must be viewed as investments and
not just expenses. These goods and services must be viewed as
enablers rather than just ways people with disabilities sustain
themselves. Investment in technology that can enable remote
assistance and robotic assistance must be viewed as ways of providing
better goods and services as well as cutting costs. Provider's
advancement should be tied to the advancement of their clients.
There
should be many ways to achieve the goals stated above. One
possibility may be an Independent Living Services Plan (ILSP) that is
a cross between an insurance plan and a retirement plan. Premiums may
be paid based on a percentage of a household's annual income. If/When
long-term medical goods and services are needed, the ILSP would pay
for the services and seek reimbursement to itself from the varied
agencies that should be providing the service. Clients would be
shielded from the myriad of complexities required to finance services
they need. Client's co-pay may also be capped based on a percentage
of a household's annual income.
My
experience is that the business community is best able to develop
innovative, sustainable, scalable and maintainable systems and
business models that truly meets and exceeds the needs of its
customers. How can we engage experienced business people,
entrepreneurs and creative young people to suggest new ways of
financing independent living services? What research is needed to
prove the viability of any new strategies?
Hi Denise Jacobsen I was trying to respond to Neil’s post in August about disability and employment but my post vanished
ReplyDeleteThe circumstances around the chronic recurring unemployment of our community may mostly due to the economic system we live in with rewards profits and efficiencies that companies need to stay competitive in the world .
The other factors include (beside our individual attitudes toward work )are the unwillingness of business to adequately take into consideration when paying us a salary the additional costs associated with our disabilities from the getgo and expecting us to pay for those costs out of our disposable income which an able bodied person does not need to consider , the cost in making the workplace accessible and inviting for us to consider working therearry
Many of our people including some members of this list are trained in liberal arts and while many are talented and willing to work under favorable conditions for themselves are as in the walking people community just not being hired. This is because business always want to incentivize profits and cheap labor and automate everything first as opposed to puttingthe social well being of the people who help the business make the profits first
Most folks did not have the combinations of being at the right place at the right historical moment and the aptitude’s and abilities Neil has to become a mathematics scholar and business master that Neil was nor have the drive to become Senior Vice President of a prominent and well known bank. I don’t underestimate the hard struggles he had and has and the conditions that Neil endured . I don’t know what those were and are.
I also know many of us could not have started the Center for Independent Living Computer Training Project as Neil and Scott Luebking were able to do and give Glen Vinton and Ralph Boemio amongst others I don’t know or can’t remember an opportunity to earn a modest income. I took the test for that program in 1978 and I was told you are smart enough but don’t have the right brain to do the 9 month program
No it’s more complicated than what Neil suggests although he is correct in saying that many of us do not go to work because the cost of losing our benefits is too high. There is also the stress and risk to our fragile health
Until the relationship and balance of power shifts in the favor of us as potential laborers as with all labor and business as well as the society pus the masses first and sees the masses as worthwhile investments rather than the profit margin and I don’t know if and when supply side economics will change ,we are stuck whatever other solutions are offered.
L
Sent from my iPad
I ask permission to copy and post the above opinion piece by Neil as I have made mention of it and responded to it publicly.
ReplyDeleteThank you
The circumstances around the chronic recurring unemployment of our community may mostly due to the economic system we live in with rewards profits and efficiencies that companies need to stay competitive in the world .
ReplyDeleteThe other factors include (beside our individual attitudes toward work )are the unwillingness of business to adequately take into consideration when paying us a salary the additional costs associated with our disabilities from the getgo and expecting us to pay for those costs out of our disposable income which an able bodied person does not need to consider , the cost in making the workplace accessible and inviting for us to consider working therearry
Many of our people including some members of this list are trained in liberal arts and while many are talented and willing to work under favorable conditions for themselves are as in the walking people community just not being hired. This is because business always want to incentivize profits and cheap labor and automate everything first as opposed to puttingthe social well being of the people who help the business make the profits first
Most folks did not have the combinations of being at the right place at the right historical moment and the aptitude’s and abilities Neil has to become a mathematics scholar and business master that Neil was nor have the drive to become Senior Vice President of a prominent and well known bank. I don’t underestimate the hard struggles he had and has and the conditions that Neil endured . I don’t know what those were and are.
I also know many of us could not have started the Center for Independent Living Computer Training Project as Neil and Scott Luebking were able to do and give Glen Vinton and Ralph Boemio amongst others I don’t know or can’t remember an opportunity to earn a modest income. I took the test for that program in 1978 and I was told you are smart enough but don’t have the right brain to do the 9 month program
No it’s more complicated than what Neil suggests although he is correct in saying that many of us do not go to work because the cost of losing our benefits is too high. There is also the stress and risk to our fragile health
Until the relationship and balance of power shifts in the favor of us as potential laborers as with all labor and business as well as the society pus the masses first and sees the masses as worthwhile investments rather than the profit margin and I don’t know if and when supply side economics will change ,we are stuck whatever other solutions are offered.
Larry Buchalter