From 1982 to 2004/2005 the percentage of
Medicare enrollees age 65 and older who lived in long-term care institutions
such as nursing homes dropped dramatically from 7.5 percent to 4.0 percent. The
emergence of assisted-living options, changes in Medicare reimbursement policies
and improved rehabilitation services may have fueled this decrease in
institutionalization.
National
Institute on Aging. Retirees' nest eggs are taking a hit
Retirement funds typically invested in real estate, stocks and mutual funds have been in freefall, causing those who are facing retirement or those who have already retired to take a huge hit. To complicate matters, like other adults, seniors have racked up huge credit card debt and tapped into their home equity.
...more