What You Need to Know
• Ken Sternfeld, a 71-year-old retired pharmacist, struggles with healthcare costs and access to Medicaid.
• An AARP study found long-term care costs increased nearly 50% from 2019 to 2024, affecting middle-class families.
• Nearly 70% of Americans will need long-term care after age 65, according to the U.S. Department of Health and Human Services.
Ken Sternfeld, a 71-year-old retired pharmacist, faces significant challenges in accessing healthcare coverage for himself and his wife, Ronnie Sternfeld, who also has medical issues. After a lengthy battle to secure Medicaid assistance, the couple depleted their savings and relies solely on Social Security for income. An AARP Public Policy Institute study revealed that long-term care costs surged by nearly 50% between 2019 and 2024, disproportionately impacting middle-class families. As a result, many families are forced to either forgo care or exhaust their savings to manage healthcare needs. The AARP has been advocating for a family caregiver tax credit for a decade, but the proposal has not progressed.
Why It Matters
The rising costs of long-term care are a growing concern for many Americans, particularly as nearly 70% of individuals over 65 will require some form of care. The AARP’s findings highlight the financial strain on middle-class families, who often face difficult choices regarding healthcare access. The lack of progress on legislative measures, such as the family caregiver tax credit, underscores the ongoing challenges in addressing the needs of caregivers and those requiring long-term care. This situation reflects broader issues within the healthcare system, including the sustainability of care for aging populations.
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