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During his December 7, 1999 lecture at the Heritage Foundation in Washington, DC, Center for Long-Term Care Financing President Steve Moses introduced "The LTC Pledge for Baby Boomers." The pledge is a checklist of crucial facts people need to know and commitments they need to make regarding LTC planning. Moses expressed the hope that insurance agents, financial planners, accountants, attorneys and other professional advisers will use the pledge to focus their prospects' and clients' attention on the need for long-term care insurance protection. Formatted copies of the pledge in Word '97 are available for the asking to current financial supporters of the Center for Long-Term Care Financing. Others may obtain a copy for duplication and distribution in exchange for a $100 contribution to the Center. To order a formatted copy of the pledge, contact Nadia Morgen at info@centerltc.com 206-283-7036. To license an adaptation of The LTC Pledge with your own logo and company name, contact Center VP David Rosenfeld at david@centerltc.com or 206-283-7036.

The LTC Pledge for Baby Boomers

Check if Applicable

  • I am an American Baby Boomer (born between 1946 and 1964).

  • I know the aging of my generation will place great stress on America's social insurance programs including Social Security and Medicare.

  • I know that providing and paying for long-term care (LTC) for aged and disabled baby boomers will be especially difficult for the government and for individuals and their families.

  • I know that friends and families provide 80% of LTC in their homes, which places a huge emotional and financial burden on wives and daughters especially.

  • I know that the probability of needing 5 years or more of nursing home care after age 65 is almost 1 in 10 and that the need for care in an assisted living facility may be even higher.

  • I know that the average annual cost of nursing home care in the U.S. is over $50,000, that assisted living costs nearly $25,000 per year, and that these rates will undoubtedly increase.

  • I know that Medicaid pays for 3/4 of all nursing home patient days, but that it rarely funds the home and community-based care or assisted living which the elderly prefer.

  • I know that Medicaid is a means-tested public assistance program (welfare) that requires strict income and asset limits, and imposes severe penalties for transferring assets to qualify.

  • I know Medicaid is intended only for the needy and that people who shelter assets to qualify must repay the program from their estates (including the value of their homes) when they die.

  • I know that Medicaid's rules for LTC eligibility are elastic, however, and that the non-poor often qualify, especially with the aid of Medicaid estate planning lawyers.

  • I know that Medicaid-financed nursing home care has a reputation for serious problems of access, quality, reimbursement, discrimination, institutional bias, and welfare stigma.

  • I know that Medicaid faces severe funding deficiencies and that nursing homes across America are declaring bankruptcy for lack of adequate public financing.

  • I know that the likelihood of a new entitlement program to pay for quality LTC is nil, because the government must save the Social Security and Medicare programs first.

  • I know that people who pay privately for LTC command red-carpet access to top-quality care and they can choose between the best home care, assisted living, and nursing facilities.

  • I know that discussing the risk of LTC with parents is extremely difficult and that considering the possibility I may need such help someday myself is even tougher.

  • I know I want my family to be part of the LTC solution, not part of the problem.


  • I pledge that I will start working on the problem of paying for LTC no later than age 40 and that I will have a solution (LTC insurance or a very large, earmarked estate) by age 50.

  • I pledge that I will discuss the risks of needing LTC and the rewards of paying privately for care with my parents and with my siblings.

  • I pledge that I will explore the alternatives available to me for financing my family's LTC, including private insurance or self-insurance (by means of savings and investment).

  • I pledge that I will help my parents protect their nest egg (my inheritance) from the ravages of LTC by contributing to the cost of their insurance premiums or their long-term care.

  • I pledge that I will not retain a Medicaid planning attorney to impoverish my parents prematurely and put them in a nursing home on welfare, if and when they need LTC.


  • I already own private long-term care insurance.

This LTC Pledge for Baby Boomers was prepared by the Center for Long-Term Care Financing in Seattle, Washington. The Center's mission is to encourage private financing of long-term care and to reduce middle-class dependency on Medicaid.

We do not endorse particular LTC insurance carriers, but we will provide a list of leading companies and their phone numbers upon request. The Center also publishes a free online newsletter called "LTC Bullets" which anyone is welcome to receive.

For more information about the Center for Long-Term Care Financing, including our speakers' bureau, publications and online newsletter, please consult our web site at www.centerltc.org or call 425-467-6840.

Center for Long-Term Care Financing

Stephen Moses is President of the Center for Long-Term Care Financing in Seattle, Washington. The Center promotes universal access to top-quality long-term care by encouraging private financing and discouraging welfare financing of long-term care for most Americans. Previously, Mr. Moses was Director of Research for LTC, Inc., a Medicaid state representative for the Health Care Financing Administration and a  senior analyst for the Inspector General of the US Department of Health and Human Services.

Stephen A. Moses, President
Center for Long-Term Care Financing
2212 Queen Anne Avenue North, #110
Seattle, WA  98109
Office: 206-283-7036
Fax:    206-283-6536
E-mail:  info@centerltc.com
Web site:  www.centerltc.com

The Center for Long-Term Care Financing is a 501(c)(3) nonprofit and
nonpartisan charitable organization.  Contributions are tax deductible.  If
you get value from our LTC Bullets, our web site, our reports, our speeches
or our public policy advocacy, please consider making a donation.  Even
small contributions are very much appreciated.

Click here to read more about Stephen  Moses.

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