What America Spends on Care for Aging Parents

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.