Long-Term Care Use Expected to Double by 2065
As the population continues to age, the number of seniors in nursing homes and other long-term care facilities is projected to increase rapidly over the next 40 years. According to a new analysis from MedicareGuide, an expected 95 million Americans will turn 65 by the year 2065. Similarly, the number of individuals who require long-term care services is projected to double from 7 million to more than 14 million by 2065.
In the shorter term, men who turn 65 between 2020 and 2024 are expected to need long-term care for an average of 2.3 years, while women turning 65 in the same timeframe will likely need care for an average of 3.2 years. Like today, most of this care will be provided by family members and other loved ones. However, it will also promote a greater need for long-term care facilities. Along with the increased need for long-term care over the next four years, the industry can expect a boost in cash.
Read the full article from McKnight’s Long-Term Care News.Read More