Long-term care is expensive, and Americans can’t expect Medicare to pay for it. Given this, Medicaid has, unfortunately, become the long-term-care insurance of the middle class, with some people wiping out their savings and then relying on Medicaid for assistance in paying for their nursing-home stays.
In our last blog, we took a look at our increasing life expectancy and offered steps so you don’t outlive your money. Today we will take a look at how our longer lives affect not just our immediate family but multiple generations.
It may seem like a remote possibility, but the likelihood that you—or someone you love—will need long-term care is high. The Life Happens blog compiled a list of long-term-care statistics, some of which might surprise you: