Most people want to remain in their own homes as long as possible as they age. Yet the U.S. Department of Health and Human Services estimates more than half of Americans turning 85 or older will need some type of long-term services and supports.

In 2023, the annual median cost for long-term care in the U.S. ranged from $24,700 to $116,800. Medicare does not cover these costs, and many families are unprepared for them.

Reps. Tom Suozzi, D-N.Y., and John Moolenaar, R-Mich., have reintroduced the Well-Being Insurance for Seniors to be at Home (WISH) Act to address this issue. The bill would allow Social Security recipients to get a new benefit specifically to pay for long-term care costs at home. This support would not count against eligibility for other benefits programs, such as the Supplemental Nutrition Assistance Program (SNAP), which makes it more likely eligible older adults will have enough money to make ends meet.

The funding for this benefit would come from a new Long-Term Care Insurance Trust Fund. This model is similar to the Federal Old-Age Survivors Insurance Trust Fund and the Disability Insurance Trust Fund. The bill also includes public outreach, requiring the Social Security Administration to send eligible individuals a notice within the first month of their qualification for the long-term care benefit.

“Older adults deserve access to affordable care at home,” said Ramsey Alwin, NCOA President and CEO.

We hear stories every day of families devastated by the staggering costs of long-term care. Many caregivers must deplete their life savings or leave the workforce to care for family members.”

The results of our 2024 What Women Say™ Survey found 92% of respondents, regardless of political affiliation, support the creation of a new government program to help address the rapidly growing demand for long-term care and the costs that come with it.

By ensuring more older adults can afford the care they need, the WISH Act aims to improve overall health outcomes and further protect the options of older Americans who want to age in their home.

“We applaud Congressmen Tom Suozzi and John Moolenaar for taking this first step in giving our nation’s families the support they deserve,” Alwin said. “We look forward to working with them to enact the WISH Act.”