Income levels for aging Americans are increasing,
but not as quickly as “The Cost of Aging in America.”
The infographic below was produced by the Milken Institute School of Public Health at George Washington University. It explores the serious financial burdens faced by aging Americans, their loved ones, and industry — as well as steps our health care system might take to counteract this trend. I gladly feature it today to complement other articles here about health reform, public policy, and the future of healthcare.
- The number of seniors 85 and older will triple by 2050, an important statistic because these are people who need the most expensive care.
- The cost of healthcare in America is already over $3 trillion/year, and that doesn’t even include the roughly $450 billion provided by unpaid family members.
- Paid caregivers earn just $18-20K per year, and while demand for their services will likely double by 2022, their wages likely won’t increase much.