Senior Care Costs Push Retirement Age to 80s for Some Seniors

Working til age 70 won’t be enough for people not yet prepared for retirement, according to the Employee Benefit Research Institute, contrary to a Center for Retirement Research study released in July which failed to factor in the high costs of long-term nursing home care. Instead, many Americans will have to work well into their […]

LTC Insurance Coverage Among Nursing Home Residents Rises to 12.5%

With unpredictable Medicare reimbursement rates and constricted Medicaid budgets at a state level, senior care providers are welcoming a less common, but slowly growing, form of payment: long-term care insurance. This product allows policyholders to make claims to their insurance company to pay for their health care costs, whether it’s received at home, in a […]

EBRI: Extended Nursing Home Stays Send Retirees to the Poor House

More Americans aged 65 and older have been entering nursing homes or other long-term care facilities in the past decade, and those who do experience a fast and steady decline in household wealth, according to an Employee Benefit Research Institute (EBRI) issue brief on the Effects of Nursing Home Stays on Household Portfolios.  Nursing home […]

EBRI: Poverty Rates Rising Among Retirees; Nursing Homes Draining Assets

The percentage of older Americans living below the poverty line has been growing steadily since 2005, and many are falling into poverty as they age and spend down their savings, especially on healthcare costs and nursing homes, according to an April 2012 EBRI (Employee Benefit Research Institute) analysis of a health and retirement study.  Between […]