Silver Book Fact

Spending on long-term care services for the elderly is projected to increase at least 2 1/2 times by 2050–to $379 billion.

Long-Term Care: Aging baby boom generation will increase demand and burden on federal and state budgets, Statement of David M. Walker Comptroller General of the United States. http://www.gao.gov/new.items/d02544t.pdf. Published 2002

Categories

  • Cost of Disease
  • Future Economic Burden

Related Facts

  • Two-thirds of people over the age of 65 will need long-term care in their lifetimes.  
  • Non-institutionalized Medicare beneficiaries age 65 and older spent an average of $3,455 (22% of their income) on healthcare in 2003.  
  • By 2017, U.S. health care spending is expected to grow to more than $4.3 trillion and comprise 19.5% of the GDP.  
  • More than 60 million new family caregivers each year
    Every year, 61.6 million family caregivers take on the roll of unpaid caregiver to a family member or loved one.  
  • Average Out-of-Pocket Spending on Health Care by Medicare Beneficiaries, by Type of Supplemental Coverage, 2003