America is aging. Between now and 2050, the number of people older than 64 will increase by more than half, to 86 million. Nineteen million of those seniors will be older than 84.
That means demand for long-term care will grow. Residential care with nursing coverage can cost more than $100,000 a year. Not surprisingly, more than four in 10 Americans say they’re worried about affording long-term care.
They needn’t be. Many Americans have the money they may need for long-term care. They just don’t know it. The middle class has set aside huge sums for things like retirement, buying a home or paying for college. They have the capacity to do the same for long-term care — and Congress must make it worth their while to do so.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Medicaid should not be for middle class
Sally C. Pipes
America is aging. Between now and 2050, the number of people older than 64 will increase by more than half, to 86 million. Nineteen million of those seniors will be older than 84.
That means demand for long-term care will grow. Residential care with nursing coverage can cost more than $100,000 a year. Not surprisingly, more than four in 10 Americans say they’re worried about affording long-term care.
They needn’t be. Many Americans have the money they may need for long-term care. They just don’t know it. The middle class has set aside huge sums for things like retirement, buying a home or paying for college. They have the capacity to do the same for long-term care — and Congress must make it worth their while to do so.
Click to read the full article in the Pittsburgh Tribune-Review.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.