As the baby boomer generation, born between 1946 and 1964, enters the period of life when, statistically, most people need some form of care, experts say that more millennials — as well as Gen X and Gen Z The baby boomers are a huge generation. By 2030, the US will for the first time have more residents over 65 than children.Medicare doesn’t cover most long-term care, and seniors only become eligible for care through Medicaid when they have almost no assets left.Paying for professional care out of pocket can be ruinously expensive — the median annual cost of a full-time home health aide was nearly $60,000 in 2021, while a semi-private room in a nursing home ran $94,000 per year or more. Those costs are out of reach for most boomers, more than 40 percent of whom have no retirement savings. |
West Philadelphia High School, Philadelphia, PA
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