Joint Committee on Elder Affairs FY24 Budget Highlights
The FY24 final state budget has emerged as a beacon of hope for the Commonwealth’s most vulnerable aging residents, shining light on the essential Elder Affairs programs that provide unwavering support to them and their dedicated caregivers. Representative Stanley extends heartfelt gratitude to Vice Chair State Representative Kate Lipper-Garabedian and Senate Chair Senator Pat Jehlen, whose steadfast leadership and tireless advocacy have been instrumental in championing the cause of our seniors, particularly those within the expansive scope of the Commonwealth’s Continuum of Care.
Of notable significance are the appropriations earmarked for the SHINE program, an invaluable initiative that empowers older residents to decipher their health insurance options and achieve savings on prescription medications. For further insights into the SHINE program, click here.
It’s a striking revelation that 7 out of 10 individuals will require long-term care (LTC) at some juncture in their lives, while merely 8% of Massachusetts residents possess LTC insurance. The FY24 final budget takes a proactive step by allocating funds for an actuarial study aimed at exploring accessible payment alternatives for LTC. This comprehensive study will also lend robust support to the Special Commission set forth in Representative Stanley’s H.652 bill. If enacted, this Commission will be entrusted with the vital task of evaluating a range of LTC financing policies, contributing to the holistic welfare of our aging population.