Posted on Sunday, September 9, 2018 8:22 PM
A new survey by AP NORC Center reveals that many young Americans are already taking care of an elderly family member, even though they feel unprepared for the task. The survey by AP-NORC Center, a collaboration of the Associated Press and an independent research group at the University of Chicago, also showed that Hispanics worried about finding a home health aide that they could afford and that spoke Spanish.
“Thirty-five percent of Americans under the age of 40 have provided caregiving to a loved one and another 34 percent expect to be doing so within five years, but 53 percent of those younger Americans feel unprepared for the role. Among Americans over the age of 40, only 37 percent feel unprepared to be a caregiver. More ominously, only 16 percent of Americans under 40 believe they will financially capable of taking care of themselves in their elder years. Relatedly, a mere 10 percent believe social safety programs like Social Security, Medicare, and Medicaid will provide them the same level of benefits as they do to beneficiaries today.”
The report goes on to mention that in 2017 the annual income from social security was $17,000 but a part time home health aide costs approximately $49,000.
Close to one third of Hispanics expect to need Medicare, Medicaid and Social Security to help cover the cost, but only 20% expect government programs to cover at the current level.
Source: NAHC Report
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