It's still all, a pay-as-you-go, with the younger generations of workers, paying into the accounts, to go into helping the elderly in the population, and as these younger generations are ready for retirement, the money's, run, out! Off of the Front Page Sections, translated…
Starting last year, the birthrate in Taiwan is less than the number of deaths. Based off of the statistical measures conducted by the Offices of Internal Affairs, the average age of people is 81.3 years, with the male at 78.1 years, and females at 84.7 years, both were at record highs. The reductions in birth rate, the advances in medicine, causing the problem of the aging population, by 2026, there would be more than twenty-percent of the total population which is made up by elderly sixty-five and up, exceeding, and we'd, entered into the super elderly society.
Started back in 2017, Taiwan had started the "Long-Term Care 2.0 ten-year-plan", other than expanding the original long-term care provisions, the breather programs, the homecare, a total of eight service provisions, it's also added the Alzheimer's care, the primary caretaker support, and pushed forth the community-oriented care programs; and, the increases in the contents of these had, helped the families, which is to be, commended.
We hope that in the future, the systems of long-term care will be more complete, and continual, and so, there's this need to get to understand where the source of money comes from for the syst4ems. Based off of the fifteenth of the "Long-Term Care Regulations": the central unit (the Department of Sanitation & Welfare) need to set aside a fund, to ensure the stability of the funds in the system. The fund's sources may include: increases of inheritance taxes, the taxes of endowment, cigarette taxes; the government with enough in the budgets, the donations of health taxes from cigarette sales, the donated incomes, the interests from the various foundations, and other extra incomes.
And all of these funding, may be enough for now, but would it be a stable source, it's still, worth our time to look into. Like the inheritance taxes, the cigarette taxes, the taxes on the endowments of assets, they will change with the economics of the society, less stable. If the long-term-care is fueled by taxes, then, the more ideal would be taxing the incomes.
If we don't add in the extra long-term care tax in the income taxes, then, social insurances can also be a direction to consider. There's a forced policy of social insurances, that can ensure the nonstop flow of funding. Comparing to the source of long-term care being funded by the taxes, it's more fitting to the long-term need of the programs.
I'm not advising that the taxes get changed to social insurances in sum, but to provide the current provisions of long-term care to those who are not as economically well-to-do, as the basis for the citizens long-term care. As for the rest of the population, then, the social insurances programs can be, employed, with the people, the workplace, and government, paying for the insurances.
Naturally, as the insurance programs of long-term care provision gets implemented, there are still going to be the lacking. The members of the public who needed the more delicate cares, would have to buy the specialized insurance plans. The government should encourage the insurance agencies to add more long-term care insurances that of a business type, especially the pay-and-receive, that, is what the people needed most in their long-term care needs. The provisions of long-term care by the government, if some of it turns into the social security programs, I'm sure, it would elevate the awareness of the members of the public on the risks of long-term care, and, through the private insurance companies in long-term care. That way, government would have a lighter burden to shoulder.
So, this is on a program of combination of publicly funded and privatized insurance policy or elderly care provisions, and, it's still, workable in theory, but, not in reality, because you're asking the younger generations of workers, to pay into an account, that's keeping the retired population now in good care, and, who's to guarantee, that as this next generation of younger workers age, and became elderly, the money won't run out? There's no guarantees of it, and government funded social security program is pay-as-you-go, and that only means, that you will get cared for (we hope!), as you'd paid into your insurance programs right now, but there's no guarantees of that there would be enough money WHEN you're actually, ready, to retire, so this is still workable, only in theory, but NOWHERE near, realistic, it's way too, ideal.
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