Seniors May Face A Grim Financial Future

May 15, 2019 by Herald-Tribune, The (Sarasota, FL)

More than half of middle-income seniors 75 years or older won’t have enough money to cover assisted living rent and other out-of-pocket medical costs a decade from now, even if they were to sell their homes and use all other financial resources.

That number will sharply rise to 81% if tomorrow’s seniors choose to keep their home but commit the rest of their annual financial resources to cover the nearly $62,000 annual cost associated with senior housing and supportive personal care services.

That’s according to a new study published this month in Health Affairs by the National Investment Center for Seniors Housing and Care at the University of Chicago.

Click HERE to read the full story via INN.

Originally Posted at InsuranceNewsNet on May 13, 2019 by Herald-Tribune, The (Sarasota, FL).