Agent

Reverse mortgages could solve long-term-care challenges

Task force proposes incentives for elderly homeowners

Should reverse mortgages become an official option for helping to solve a state's long-term-care challenges? Some states have already begun the research. For example, Washington state's Long-Term Care Task Force is hosting a series of community meetings aimed at exploring new funding solutions to the escalating health-care issue created by the rapidly accelerating growth of the state's senior population. Dr. Barbara Stucki, a Bend, Ore., researcher and consultant who recently completed a study on reverse mortgages for the National Council on the Aging, told the task force that one potential approach could be to create a system that more effectively manages long-term-care funding for community-based options. One component of the model would be for the state to offer incentives to encourage greater use of reverse mortgages among impaired elders. Stucki, former senior policy analyst for the American Council of Life Insurance and AARP employee, is the project manager and lead author of N...

Comments