There Are More Older Americans Today.
25% of the population
By 2060, nearly one in every four Americans will be elderly.
Healthcare Costs Steadily Increase As We Age.
Healthcare, as a share of expenditures:
8.5% for people 55 to 64
12.2% for people 65 to 74
15.6% for people 75 and older
What Do Those Costs Look Like for Caregivers?
$138,000
The projected average lifetime cost of long-term services for more than half of the Americans who turned 65 in 2016.
$6,954
The average amount that 78% of family caregivers paid out of pocket for medical costs related to an elder relative in 2016.
$11,923
The average annual expenses of long-distance caregivers—defined as those living more than an hour away— in 2016.
What Does It cost for Professional Long-term Care?
$7,698 per month
Cost of a private room in a nursing home, on average, in 2016; a semi-private room costs, on average, $6,844 per month.
$3,628 per month
The cost of a one-bedroom unit in an assisted living facility in 2016.
$20.50 per hour
The average cost of an in-home aide in 2016.
You may also like
- http://crr.bc.edu/special-projects/national-retirement-risk-index/
- https://www.census.gov/library/stories/2018/03/graying-america.html
- https://www.census.gov/popclock/
- http://www.pewresearch.org/fact-tank/2018/01/31/more-adults-now-share-their-living-space-driven-in-part-by-parents-living-with-their-adult-children/
- https://www.census.gov/content/dam/Census/library/publications/2016/demo/p60-256.pdf
- https://www.aarp.org/content/dam/aarp/research/surveys_statistics/ltc/2016/family-caregiving-costs.doi.10.26419%2Fres.00138.001.pdf
- https://longtermcare.acl.gov/costs-how-to-pay/costs-of-care.html
- https://aspe.hhs.gov/basic-report/long-term-services-and-supports-older-americans-risks-and-financing-research-brief
- https://www.bls.gov/opub/btn/volume-5/spending-patterns-of-older-americans.htm