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More Than Half of Americans Between the Ages of 57 and 61 Spend Time in a Nursing Home

September 7, 2017

 

You might assume that you are still in relatively good health and facing low chances of being put inside a nursing or retirement home. However, new information shows that more than 50% of Americans between the ages of 57 and 61 will spend some time in a nursing home.

That’s according to the RAND Center for the Study of Aging. According to that study, the reason for the increase in the number of people in nursing homes has to do with hospitals discharging people faster and increasing the stays in post hospital rehabilitation centers. nursing home care

Once someone has been in the hospital for 3 days, Medicare will cover the cost of post hospitalization rehab for up to 20 days and then a portion of the cost for up to 100 days. With more than 56% of people between the ages of 57 and 61 spending a minimum of one night in a nursing home during their lifetime, this study found that 32% of them will pay anything out of pocket.

Anyone with 4 or more children spent about 38% less in nursing home costs than those without children and having daughters was also linked to a decrease in the nursing home cost overall. If you have questions about how long term care, estate planning, and retirement planning work together to help you accomplish your goals, contact an experienced New Jersey estate planning lawyer today.


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Recent Posts
Do You Owe The AMT?

American educational reformer Horace Mann called education “the great equalizer.” In football, it’s been said ...

See more
What is the Value of Your Business?

In the second quarter of 2023, more than 2,300 small businesses were sold. The median ...

See more
Immediate vs. Deferred Annuities

Despite not being as well known as some other retirement tools, annuities account for 6.5% ...

See more