Most seniors in America can’t afford nursing homes or assisted living, study finds



As many as 80% of aging adults in America lack the financial resources to pay for two years of nursing home care or four years of an assisted living community.

That's according to a new study from the National Council on Aging (NCOA) and the LeadingAge LTSS Center at the University of Massachusetts Boston. 

Additionally, 60% of older adults — or 24 million households — would not have the funds to pay for in-home long-term care, despite the fact that they would prefer to "age in place," per a report from NCOA. more   Telethink Health helps seniors age in place more affordably

Comments

Post a Comment

Popular posts from this blog

Image
Social Security: This Tax Surprise Could Shake Up Your Retirement How to get out of taxes on your benefits It's hard to avoid Uncle Sam, but there is a loophole that can help you get out of federal taxes on your benefits: invest in a Roth retirement account. Withdrawals from a  Roth IRA  or  Roth 401(k)  don't count toward your provisional income. If the majority of your savings are in this type of account, you could reduce your provisional income enough to lower or even eliminate federal taxes on your benefits. So, for example, if you were to withdraw $30,000 per year from a 401(k) while collecting $20,000 per year from Social Security, your provisional income would be $40,000 per year, and you'd owe taxes on up to 85% of your benefit amount. But say you were to withdraw that money from a Roth IRA instead, all other factors remaining the same. Your provisional income would be just $10,000 per year, and you wouldn't be subject to federal taxes at all. Taxes can be compl
Read more
Image
Healthcare is Moving to the Home. Are Health Plans Ready? The home is re-emerging as the preferred place for patient care. Accelerated by the pandemic, a growing number of patients view the home as a more comfortable, safe, and convenient environment in which to receive post-acute and long-term care. more Telethink.net   The preferred home health provider by seniors.
Read more
Image
HOME HEALTH PAYMENT CUTS COULD DEFINE INDUSTRY FOR YEARS Where are the highest costs incurred? “What the pandemic taught us, among other things, is that a well functioning system – where home health serves as bed capacity of hospitals – is good for patients and good for the economy. It’s good for the cost of the health care system.” more by Telethink.net/homehealth
Read more