Everett Herald: Providing care for elderly parents July 29, 2016
The Everett Herald writes:
There is some understanding among most for the challenges that face Social Security and Medicare as boomers age and leave the workforce. There seems less realization of the lack of adequate guidance and financial help available when aging is complicated by the need for long-term care services and supports, such as those offered through in-home care, assisted living centers and nursing homes.
About 70 percent of those 65 or older will need some level of long-term services and supports, the costs of which are significant and average about $260,000 per person over a lifetime, compared to the median retirement savings of $148,000, reports Washingtonians for a Responsible Future, an effort by AARP, the Alzheimer’s Association, the state’s Long-Term Care Ombudsman and other groups who are seeking solutions to the developing crisis.