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Income and Wealth of Older Adults Needing Long-Term Services and Supports

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Document date: August 01, 2013
Released online: August 21, 2013
In his testimony before the federal Commission on Long-Term Care, Richard Johnson reports that most older adults who receive Medicaid-financed nursing home care have low incomes and very little wealth, both while on the program and for at least a decade before entering a nursing home. These results suggest that efforts to promote individual saving for long-term care may not move many people off Medicaid or reduce program costs because most Medicaid nursing home residents haven’t had the means to save much.


Topics/Tags: | Health/Healthcare | Retirement and Older Americans


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