Analysis: Most Americans Who Will Need Long-Term Care In 2029 Will Not Be Able To Afford It.

May 10, 2019

The New York Times (5/10, Span) reported a new analysis in Health Affairs determined that in a decade, “most middle-income seniors will not be able to pay the rising costs of independent or assisted living.” The analysis suggested the middle-income cohort in 2029 would need “access to about $25,000 to $74,000 a year in current dollars” for those aged 75 to 84. The article indicated nearly “14.4 million people will fall into the middle-income category, almost double the current number,” and that while they are “less likely to experience poverty...80 percent of middle-income seniors will have less than $60,000 a year in income and assets,” while the “estimated cost of assisted living plus out-of-pocket medical expenses will hit $62,000.”

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Last modified on 05/13/2019

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