The Increasing Cost of Assisted Living

An interesting article, Why Aging Middle-class People Can’t Afford Assisted Living, recently appeared at Philly.com, the online site of the Philadelphia Inquirer. Writer Stacey Burling describes research published by the University of Chicago’s National Opinion Research Center (NORC), a project that examined the future challenges of paying for the costs of assisted living, especially for middle-class individuals with homes as a primary asset.

This is a must-read piece for adult children who are supporting elderly parents in some way and anticipate a future need for assisted living.

In her April 24, 2019 article, Burling also connects with various experts and assisted living administrators about the challenges of lowering cost and shares ideas about how to make assisted living more affordable.

One of the sponsors of the research is the nonprofit National Investment Center for Seniors Housing and Care helped to fund the project because of the need to draw attention and gain more information about the large numbers of people who will be unable to afford care — as many as 7.8 million people ten years from now in 2029.

 

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