Tag Archives: baby boomers
July 24th, 2013 | 1
The U.S. is running out of time to remedy its long-term health care crisis, Dr. Bruce Chernof, chairman of the Federal Commission on Long-term Care, told Chicago’s NPR affiliate. As long-term care insurance dries up and becomes more expensive, millions of baby boomers must begin planning now for uncertain futures.
“It’s important to recognize that we are going to age differently than our grandparents did,” Chernof said, “because 70 percent of folks over the age of 65 will need, on average, about three years of long-term services and support.” Twenty percent will need five years or more. Planning is vital because federal benefits will most likely be scarce; such care is not covered through standard health insurance and is not a prominent portion of Medicare or Medicaid.Continue Reading
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