It’s a retirement concern few of us want to face: At some point, four out of five older Americans will need help with daily needs like bathing, dressing, using the toilet or preparing meals.
Paying for such long-term care presents retirees with difficult choices. Medicare coverage is very limited. Private long-term care insurance policies are complicated and expensive. Medicaid, which insures low-income people, pays for long-term care only when a patient’s assets have been almost completely spent. And many will rely on family members for help.
In Washington, D.C., policymakers and lawmakers have long agreed on the need for a government-sponsored solution — but not how to pay for it
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Most people will require some assistance with daily living needs, but the intensity and duration are impossible to predict.
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The researchers found that one-fifth of retirees will need no support, but about one-quarter will have severe, and expensive, care needs.
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