AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
![]() One in seven people who live past 65 will need more than 5 years of long-term supportive care.Īt this point, salaries and benefits are not set up to make it possible to save to cover these costs. I have had nursing home residents whose stays started 30 years before I showed up to be their physician. And whatever you need might last for a very long time. The cost of a direct care aide for 9 hours per day, 5 days per week is around $50,000 per year. The cost of a nursing home is around half of that. ![]() The cost of around-the-clock care by a single caregiver for a person who has no family volunteer is around $250,000 per year. Since people move among the states, a federal insurance scheme is best, so benefits are not tied to the location where you worked. The WISH Act builds on the obvious strategy of pooling savings so that those among us who end up needing long periods of support get the needed finances – this is the core idea behind insurance for all our other risks (auto accident, home fires, floods, etc.). In addition to all the other reforms needed in eldercare, we need to set up social arrangements that make it possible for nearly all American workers to have a way to pay for long periods of long-term care (LTC), which is the aim of the WISH Act, now H.R. ![]()
0 Comments
Read More
Leave a Reply. |