4 days ago
The Post seeks your questions about aging, healthcare and ways to finance it
The explosion is coming: The number of people 85 and older will nearly double in the next 10 years, according to the U.S. Census and, unless there's a miracle that halts aging, it's likely to increase the demand for healthcare like never before.
Early signs foretell that the cost of medical care and living into advanced age with the right support is going to be an expensive proposition, fraught with complex and costly decisions. Medical service inflation is increasing faster than the general inflation rate: by 3.1% compared with the general inflation rate of 2.3%, according to the U.S. Bureau of Labor Statistics.
The golden years might start looking a little less shiny, even for people who have saved their entire lives to enjoy this tropical paradise.
The costs of long-term care, should one need it, can destroy generational wealth. A recent survey from CareScout, an information network of long-term care providers, found that the cost of a private room in a Miami-area nursing home averages about $12,714 a month. It's an expense most haven't saved for and don't have any idea how much it's going to cost, according to KFF, a national health policy research group.
Looming in the background: Pressure to change Medicaid, which provides healthcare for the poorest residents and funds about 62% of Florida's nursing home residents and a labor shortage of people willing to do the lowest-level medical support jobs that involve bedpans, laundry and home help.
Trying to navigate a complex and costly healthcare system in a world that's speeding up can be frustrating.
These issues and others are why The Palm Beach Post is starting a new series of health columns focused on navigating the financial and physical challenges likely to emerge as more and more people reach advanced age and their children confront a reality there's no preparing for. We want to hear what questions you have as you and your loved ones enter new territory.
Post insurance reporter Anne Geggis will take your questions about the ways to plan for living the best life even into advanced years.
Geggis has more than 10 years' experience covering health and health governance, first at the Daytona Beach News-Journal, where she won the national Society of Professional Journalist's Sunshine Award, and then the Gainesville Sun, where she covered cutting-edge research at the state's chief academic medical center.
She'll take your questions about health care and preparing for the future with advice from a wide range of experts. This column starts with you and your concerns, email them to her at ageggis@ or fill out the form below to submit your questions on healthcare and aging.
Look for her first column in June.
This article originally appeared on Palm Beach Post: Send us your questions about aging, healthcare and ways to finance it
