AARP: Long Term Medical Care
While the number of people needing long term care is expected to increase, most individuals, especially blacks, are not financially prepared for it, according to a an AARP survey. The survey finds that more than 64 percent of blacks are not prepared to handle the costs of nursing home care. AARP experts say the average cost for long term care can cost an estimated $60,000 a year. Long-term care is fast becoming a national problem. An aging population, longer life spans, fewer sudden deaths and a lack of informal caregivers are factors that are straining the current system of care. A national consensus is needed for a solution.
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