Where the presidential candidates stand when it comes to elder care
With just over two weeks to go until Election Day, the policy positions of the major political parties’ nominees for president – Democrat Kamala Harris and Republican Donald Trump – have come under scrutiny.
Each of their potential policies regarding the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program has already been documented by HousingWire‘s Reverse Mortgage Daily (RMD). But a different set of positions on the overarching issues surrounding senior care could also impact the reverse mortgage industry next year and beyond.
ElderLawAnswersan online resource recently designed to clarify some legal issues and realities of laws regarding older Americans compiled a profile of the perspectives of both candidates about elderly care. It found, unsurprisingly, major differences in the approach each would take if elected.
The outlet identified four key differences between their approaches, with the first focusing on the role government should play in elder care issues.
“The main difference between the two candidates is their view on the role of government in healthcare provision,” the newspaper said. “Harris envisions an expanded federal role, with significant government investments in health care infrastructure, financial support for families, and direct services. In contrast, Trump’s approach is based more on market-based solutions and state-level governance, with the goal of reducing federal involvement and regulation.”
There is also a difference in the way the candidates focus on the source of care: direct employees or informal caregivers.
“Harris is placing a stronger emphasis on improving conditions for paid caregivers, including home health aides and nurses,” the article said. “Her proposals include increasing wages and providing better training for these workers. While Trump’s platform supports family caregivers through tax breaks, it does not provide the same focus on the healthcare professional workforce.”
The paper also compared the policies each candidate has outlined for paid family leave, a cornerstone of Harris’ labor-oriented campaign plans. While the first Trump administration offered this a limited parental leave plan for federal employees, this is not a permanent part of the 2024 campaign platform, according to the newspaper. It characterizes Harris’ approach as “broader, and includes not only parental leave, but also leave to care for elderly relatives.”
The last important difference concerns the affordability of care.
Harris’ platform emphasizes making these healthcare services more cost-effective for a wider variety of families and individuals. Trump’s plan is more focused on providing various economic tools to make such care more accessible to people through the use of tax credits, access to private insurance coverage for some of these costs and providing the ability to purchase health care services on an individual basis. to manage.
Harris recently spoke about her plan in an appearance on “The View,” a daytime TV talk show, in which she said she would seek to have Medicare cover more costs for home care.
Trump’s public comments on such plans have been limited, though his campaign has focused more on private solutions and reducing regulatory barriers that the campaign says could hinder personal management of such care.
