WHAT YOU NEED TO KNOW - THIS IS NO JOKE
Long Term Care is the family crisis for the 21st century
3 out of 5 people will need LTC…2 out of 5 will require nursing home facilities
70-80% of nursing home residents deplete their assets within 12 months
Right now more than 12 million people need LTC
1,600,000 million people are in nursing homes
35 million people today are over 65 – or 13% of our population
By 2030…64.6 million people will be 65 or older
By 2040…there will be more people over 85 than there are today over 65
There are 72,000 people over 100 today and that sector will triple by 2020
Those of us born between 1946 and 1964 are BABY BOOMERS
1 out of 4 BABY BOOMERS are over 50 and soon will be SENIOR BOOMERS
Some of us are in the SANDWICH GENERATION…Caring for our kids…and caring for our parents
People are living longer…in 200 years we’ve doubled our life expectancy
Banking on Social Security?
Insolvency by 2019?
42 workers supporting each retiree in 1945
3.4 workers supporting each retiree today
By 2030…2 to 1
How about Medicare?
Payments exceded Medicare income in 2004 for the first time in history
Covers only 9.4% of all nursing home care expenses
How about Medicaid?
You have to be indigent…
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