Are We Facing a Long Term Care Crisis?

The cost of long term care is a top concern for plenty of retirees, but new research shows that we could be facing a potential crisis in the U.S. when it comes to providing it.

The oldest of the baby boomers will starting turning 80 in 2025, more people will need support for their healthcare concerns. Since most people have not planned for the possibility of long term care, this is likely to have the biggest impact on the adult children of those baby boomers.

Being a caregiver comes with many challenges. Most adult children have working lives and families of their own, and depending on their loved one’s caregiving requirements, this can be challenging. Most are not prepared and don’t have the time or the healthcare training needed to help with advanced situations. But family members are often a stopgap method of giving long term care support when a loved one cannot afford a nursing home yet.