The future looks terrible for nursing home costs
Article by Luke McGrath from Bloomberg News...
The results of a six-year study by Georgetown University Medical Center revealed just how fast U.S. nursing home prices have been increasing all across America. And the future looks just as grim.
Dr. Sean Huang, the study’s lead author, said the brutal dynamic governing long-term care in America—where many nursing home residents must spend down the bulk of their life savings before qualifying for federal assistance—is intensifying. California, Florida, New York and Texas all saw increases that far outstripped the 11.65% rise in inflation between 2005 and 2010, the period reviewed by Georgetown’s analysis of eight states. Additional data show the upward trend has continued in the years since. Read More..