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In The News

"...In 2004, according to CBO, approximately $135 billion was spent on long term care for the elderly. Sixty percent of this amount was financed through Medicaid and Medicare, one third through out-of-pocket payments, and the remainder by other programs and private insurance. This funding excludes the significant resources devoted to long term care by informal caregivers (primarily spouses and children). The CBO estimates that informal care is the largest single component of long term care...."
According to an April 2005 congressional hearing press release from Congresswoman Nancy L. Johnson (R-CT), Chairman, Subcommittee on Health of the Committee on Ways and Means.

Did You Know?

nursing home articles

Over one half of women and nearly one third of men 65 and older will stay in a nursing home sometime during their lifetime (The Risk of Nursing Home Use Later in Life, Medical Care 28(10): 952-62).

The estimated risk of a 65 year old entering a nursing home at some point in his/her life is about 48.6% (Lewin-VHI, based on the Brookings-ICF Long-Term Care Financing Model, cited in HIAA, Long-Term Care: Knowing the Risk, Paying the Price, 1997, p. 132).