Journal Article The Financial Burden of Paid Home Care on Older Adults
Richard W. Johnson, Claire Xiaozhi Wang
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Paid home care can significantly improve the lives of older adults with disabilities and their families, but recipients often incur substantial out-of-pocket spending. This study simulates the financial burden of paid home care for a nationally representative sample of non-Medicaid community dwelling adults age 65 and older. The results show that 74 percent could fund at least two years of a moderate amount of paid home care if they liquidated all their assets. Among adults with significant disabilities, however, only 57 percent could fund at least two years of moderate paid home care by liquidating all their assets.

You can read the article on Health Affairs' website (clicking this link will take you to an external site).

Research Areas Health and health care Wealth and financial well-being Aging and retirement
Tags Economic well-being Health equity Long-term services and support Retirement Retirement policy
Policy Centers Income and Benefits Policy Center