Why America’s Long-Term Care Crisis Is A Chronic Issue?
Why America’s Long-Term Care Crisis Is A Chronic Issue? This year, we will be fortunate if Grandma and Grandpa can join us at our holiday tables. Perhaps unspoken during the meal is how frightening and costly it can be for older Americans to consider paying for long-term care services when independent living becomes too difficult, and how difficult it can become for the following generation to make sure their parents are taken care of in America. Now is the time to begin dispelling rumours and embracing the new normal. Contrary to popular belief, Medicare or health insurance do not cover long-term care expenses in the United States. In actuality, about one-third of long-term care costs in the United States are covered out of pocket; over 60% are covered by the public sector (mostly through Medicaid), but only if the patient has less than $3,000 in assets; and just roughly 4% are covered by private insurance. In 2020, 7.5 million Americans possessed long-ter...