Aging at Home is Expensive!

[Axtremus]

https://www.wsj.com/personal-finance/caregiving-aging-at-home-retirement-103520c7

... The 2023 national median cost of a home health aide, hired through an agency, stood at $33 an hour, up from $20 an hour in 2015, according to Genworth, a long-term-care insurance company. Those needing round-the-clock in-home care can expect a median cost of about $290,000, which is more than double the annual median cost of a private room in a nursing home facility and four times the annual median cost of a private room in assisted living, according to Genworth.

For comparison, the median hourly wage in the USA was just a bit over $18 in 2022, median household income is around $75k. It would take four median household incomes to afford one median round-the-clock in-home care.

And then there is all that stress and loss-of-freedom experienced by family members that cannot be easily translated into monetary terms.

[Jolly]

Welcome to the party.

[taiwan_girl]

Modern medicine can help extend your lifespan, but not necessaryily improve your quality of life during that time.

[Copper]

Tax the rich

[Jolly]

Jon needs to pay more taxes?

Heck, he lives in New Yawk. Isn't that taxed enough?

[jon-nyc]

I paid $20 an hour for my Dad’s home health aid in the 2010-2011 timeframe.

[George K]