These are common issues for older people. You may share the often-heard wish — “I want to stay in my own home!” The good news is that with the right help you might be able to do just that.
A healthy 65-year-old male has a 44% probability of needing some level of long-term care during his expected life span. For a woman, the odds are 56%.
As millions “age in place,” millions more must figure out how to provide their loved ones with increasingly complex care.
A congressionally mandated system designed to recoup the costs of long-term care can hit people with the crushing prospect of losing a home, posing a particularly insidious threat for low-income families and people of color.
Growing old is an increasingly expensive privilege often requiring supports and services that, whether provided at home or in a facility, can overwhelm all but the wealthiest seniors.
Most seniors simply can’t pay the average $100,000 a year for a nursing home, $50,000 for in-home care, or $45,000 for assisted living.