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As the population ages at an increasing rate, the number of Americans in nursing homes and other long-term care facilities is expected to surge during the next 40 years. According to a new analysis from MedicareGuide, a projected 95 million people will turn 65 by the year 2065. Likewise, the number of individuals who require formal long-term care is projected to double from 7 million to more than 14 million by 2065.
In the next four years, men who turn 65 are expected to need long-term care for an average of 2.3 years, while women turning 65 will likely need care for an average of 3.2 years. Similar to today, most of this care will be provided by family members and other loved ones. However, it will also boost a greater need for long-term care facilities and generate an influx of cash for the long-term care industry.
Read the full article from McKnight’s Long-Term Care News.
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