Harris to propose Medicare to cover home care for more seniors, WSJ reports

Vice President Kamala Harris is proposing a new Medicare benefit for in-home eldercare that would cover long-term home care services, including health aides, allowing many seniors to get the support they need without going to a nursing home, The Wall Street Journal’s Andrew Restuccia and Jennifer Calfas report. The benefit, which would require congressional approval, will be paid for from the savings from a series of proposals Harris has made to lower prescription drug costs, according to Harris campaign officials. Medicare currently covers home health services such as care from nurses and physical therapy if seniors meet certain eligibility criteria, including being homebound, but does not cover 24-hour care at home. The Harris campaign says the added coverage would be funded in part by continued drug price negotiations with pharmaceutical companies. The vice president will discuss her new plan during a Tuesday morning interview on ABC’s “The View.” Publicly traded companies in the space include Cigna (CI), CVS Health (CVS), Humana (HUM), Centene (CNC), UnitedHealth (UNH), Alignment Healthcare (ALHC), Elevance Health (ELV), and Molina Healthcare (MOH).