Good news for the state’s elder care system: the Department of Health Services (DHS) is sending more money to cover Medicaid costs.
Here’s Five Fast Facts about Wisconsin’s Elder Care Boost:
- 📈 Dollars and Cents - DHS is raising the reimbursement rate from 77% to a jaw-dropping 91% next year! The boost comes from recommendations made by the Governor’s Task Force on Caregiving. They’re putting more than $500M into nursing homes.
- 👩⚕️ More for Many - DHS said it’s doing this to help offset costs and to attract more staff in the face of an already dire statewide shortage. (The author of that article is a genius). Nursing homes can now afford to bump pay and benefits because they know they’ll get reimbursed for it.
- 🩺 Nosedive - Staff shortages have led to a loss of 27,000 beds since the start of the pandemic. That’s more than half of Miller Park’s capacity! There have also been more than 400 changes in administrator and director of nursing positions since January. Worse, 10 nursing homes across the state have closed for good in that same timeframe.
- 👴 Older, Faster - The Baby Boomers are compounding the situation, too. By 2040, the number of the state’s population that is 65 and older is going to be 72% higher than it was back in 2015.
- 👵 Post Haste - DHS expects the funding will make its way to facilities in the next six weeks.
🔥Bottom line: None of us can fight aging. Except Dolly Parton. Thankfully she’s immortal. More staff and more funding means more beds and more affordable care. A lot of our parents and grandparents are going to need this kind of care faster than we realize and this can help that transition.
Will this help someone in your family?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
