< Numbers needing long term care.
1999 ? 5 million
http://www.txinsure.com/new.asp
1997 ? 7 million
2005 ? 9 million
2018 ? 9.9 million
2030 ? 10.8 million (Source: National Academy for an Aging Population).
http://research.aarp.org/health/fs27r_care.pdf
People aged 85 or over are the heaviest users of long term care. The
elderly comprise 13% of the total population, by 2030 they will
comprise 20%.
http://www.uscare.com/whyltc.html
Care and insurance costs.
Cost of a nursing home.
The average nursing home stay is 2.6 years. The cost of a semi-private
room is $52,000. By 2030 the estimated cost is $190,600.
In 2000, the average cost for assisted living was $25,300, by 2030 it
will be an estimated $109,300.
Home care costs $20,000 and is estimated to be $68,000 by 2030.
Cost of long term care insurance premiums.
Purchasing at age 40 costs $20.05, at age 50 costs $43.06.
http://www.longterm-careinsurance.com/facts.html
By 2029 all 78 million boomers will be aged over 65.
http://www.tribnet.com/news/government/story/4445499p-4431579c.html
By 2030, the census bureau predicts there will be 69 million people
aged over 65. http://research.aarp.org/health/d17317_ats_ex.pdf
By 2030, 1 in 5 Americans will be a senior citizen.
http://www.longtermcareinsurance.org/
By 2030, 70 million people will be over 65 years.
The number of people over 85 will double to 7 million by 2020.
This report gives details of the healthcare work force and predicts a
shortage of healthcare workers by 2010. By 2050 there will be a 63%
drop in the number of family caregivers.
http://www.academyhealth.org/nhpc/2003/raphael.pdf
According to a report by David Stuart Koitz, social security funds
will be insolvent by 2029.
http://countingcalifornia.cdlib.org/crs/ascii/97-39
According to CNN.com, in 1945, there were 20 workers for every
retiree, now there are three, by 2029 there will be less than 2. By
2029, taxes from workers will fall $700 billion short of paying the
same benefits per person that people get now. Problems will begin in
2011 when boomers start retiring and more will need to be paid out
than is coming in.
http://www.cnn.com/US/9610/03/social.security/
Increases in life expectancy.
The population aged 65 and over will double by 2030.
The average worker pays $3,500 into retirement benefits, the average
retiree draws $11,300 in benefits.
http://www.concordcoalition.org/entitlements/sseligibilityage.html
According to this report from Georgetown University, almost 10 million
Americans need long term care.
http://ltc.georgetown.edu/pdfs/whopays.pdf
Social security and Medicare.
http://66.102.11.104/search?q=cache:ocUKEnt0ZH8J:www.cbo.gov/showdoc.cfm%3Findex%3D10%26sequence%3D3+%22need+long+term+care%22+%22+by+2029&hl=en&ie=UTF-8>
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