Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Aïda Amer/Axios

Taking care of the aging population is a crisis in the making, and no one — not families, not government programs and not the health care workforce — is prepared for it.

The big picture: Providing health care to aging Baby Boomers will strain Medicare’s finances, but the problem is even bigger than that.

Long-term care — the kind of services typically performed in a nursing home or by a home health aide — largely falls through the cracks of both public and private health insurance, saddling seniors and their families with financial and emotional burdens they often didn’t anticipate or plan for.

  • “It’s a problem nobody’s talking about,” said David Grabowski, a health policy professor at Harvard who studies long-term care. “Part of that’s just, these are hard issues to think about. Nobody wants to think about getting old and needing care. But part of it is that these are really hard problems.”

By the numbers: Estimates differ on the specifics, but they generally agree that somewhere between half and two-thirds of seniors will need at least some long-term care.

  • Today’s seniors will incur an average of $138,000 in long-term care bills, according to one federal study.
  • Even middle-class seniors are largely unable to cover those costs, according to a study published earlier this year, which Grabowski co-wrote.

How it works: Medicare doesn’t cover most long-term care services. The market for private long-term care insurance is tiny and fraught with failure.

  • That leaves three real options: Be rich enough to pay out of pocket, be poor enough to quality for Medicaid, or lean on family and volunteer caregivers.
  • In many cases, seniors must do all three: They begin paying out of pocket, then quickly spend everything they have, making them Medicaid-eligible, but still rely on family members for at least some additional help.

Medicaid is already the biggest line item in most states’ budgets — so as the need for long-term care grows, it will cost seniors, families, states and the federal government all at the same time.

The intrigue: A lot of long-term care has recently shifted away from nursing homes and toward home care or community-based options like assisted-living facilities.

  • That’s a good thing for seniors, but “the challenge with it is it sort of widens this gap between the haves and the have-nots,” Grabowski said.
  • Medicaid is still structurally tilted toward nursing homes, and when it does pay for home care, it doesn’t pay home care workers very well.

That leads to yet another problem — high turnover among nurses and caregivers, which isn’t great for patients.

  • Home care workers are also predominantly immigrants, tying this issue up with yet another charged political debate.

The bottom line: I asked Richard Johnson, who leads the Urban Institute’s program on retirement, why there isn’t a bigger political constituency to change this system.

  • “If you provided this benefit, lets say you made paid home care more affordable, there’s always a concern that it could lead to less family care,” he said.
  • “Look at child care,” he said. “We don’t have much of that, either.”

Go deeper: The unofficial health care system

Go deeper

Updated 8 mins ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: Omicron fuels the case for COVID boosters — Omicron variant lifts Moderna's stock price — CDC strengthens COVID booster recommendation.
  2. Politics: Biden says fight against Omicron won't include "shutdowns or lockdowns."
  3. States: Federal court blocks Biden's vaccine mandate for health workers in 10 states — NYC urges masks indoors "at all times" regardless of vaccination status — New York declares state of emergency amid concerns over Omicron.
  4. World: Omicron adds urgency to vaccinating worldWHO warns against travel bans on southern African countries — First North American Omicron cases identified in Canada.
  5. Variant tracker: Where different strains are spreading.
Kendall Baker, author of Sports
Updated 17 mins ago - Sports

College football gone mad

Former Notre Dame coach Brian Kelly walks in front of his players. Photo: David Madison/Getty Images

In the span of two days, the head coaches of two of the biggest college football programs in America have jumped ship, wooed by even greater challenges — and the almighty dollar.

Driving the news: Lincoln Riley is ditching Oklahoma for USC in a deal reportedly worth $110 million. LSU poached Brian Kelly from Notre Dame with a reported 10-year, $100 million contract.

Media startups anxiously await BuzzFeed’s stock market debut

Illustration: Sarah Grillo/Axios

Digital media companies considering going public are watching BuzzFeed's expected stock market debut next week to see how investors will respond.

Why it matters: A slowdown in SPACs (special purpose acquisition companies) earlier this year pushed some digital media companies that were considering going public via SPAC IPOs away from the idea, such as Vice.