The 2020s Will Be a Tipping Point for Senior Care in the U.S.

The United States is not adequately prepared for a tipping point in senior care throughout the next decade, reports Forbes . The first of the country's 77 million baby boomers will reach age 80 in the next five years, which means their frailty will dramatically escalate and raise pressure for long-term care support services. Millions of boomers who reach 85 by 2030 will add to the strain. The Urban Institute's Rich Johnson determined that someone who dies between 65 and 74 will have a 50-50 chance of requiring a high level of personal care, while 66 percent of those who live to 85 will need such support. Despite these alarming trends, most U.S. families have not prepared for the financial costs or discussed how they will deal with their parents or spouses' needs. The U.S. government is even less ready, as Medicare is only now starting to create limited benefits for home-based long-term care, which are generally available only for those participating in Medicare Advantage managed care plans. Observers warn that it is now too late to engineer a national financing system for boomers without relying on a major transfer of income from working-age Americans.