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Rising cost of long-term care in USA
This article talks about the growing expenses with respect to the long-term care for the aged people. According to this article there has been an increase in the cost of home-based services. Further, the American healthcare industry is unable to efficiently meet the requirements of the aging Americans. As per a survey conducted by Genworth in 2021, it was reported that there was a huge rise in home-based expenses which consists of bathing, eating, cooking, cleaning and bathing of the aged person. Further, the expenses for treatment of aged people have nearly doubled in the nursing homes compared to the homecare services.
This results in a huge burden for the seniors as they have to pay from their savings or have to depend on their family for payment of high insurance premium. Further, long-term care policies...