More Nursing Homes Should Provide Residents with I-SNP Option
The Medicare Modernization Act of 2003 established a Medicare Advantage Coordinated Care Plan intended for individuals with special care needs, including nursing home residents with lengths of stay over 90 days.
Specifically, to help improve care for these long-term nursing home residents, the new legislation called for the creation of Medicare Advantage Institutional Special Needs Plans (I-SNPs). The initial sponsors of I-SNPs were primarily large insurance companies, such as United Healthcare and Anthem.
However, nursing homes should become more interested in I-SNPs for two reasons. I-SNPs improve the quality of resident care and can help nursing leaders learn to manage financial risk.