Posted on Sunday, June 9, 2019 11:50 PM
According to a new study published in the June issue of Health Affairs, seniors who need nonmedical home care the most are the least likely to be able to afford it. Approximately 57% of seniors over 65 with significant disabilities can pay for two years of moderate home care if they liquidate all their assets, only 40% could afford to pay for two years of extensive care.
“The bottom line is that paid home care and other types of long-term services and supports are generally not affordable for the people who need those services the most,” lead researcher Richard Johnson, who is a senior fellow at the Urban Institute’s Income and Benefits Policy Center, told Home Health Care News. “It’s just another indication that the prospect … of becoming frail at older ages poses an enormous financial risk for most older Americans.”
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