Based on 18 years of data from the Health and Retirement Study, a biennial survey of elderly US populations that was initiated in 1992, researchers estimate that 56% of individuals 57-61 years of age are likely to spend at least 1 night in a nursing home during their lifetimes, a percentage higher than previous estimates, but that only 32% of individuals are likely to pay lifetime out-of-pocket costs, averaging approximately $7,300; however, 5% of individuals are estimated to spend around $47,000 or more in out-of-pockets costs, findings potentially relevant to health insurers and policy-makers.
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Article #17-00618: "Distribution of lifetime nursing home use and of out-of-pocket spending," by Michael Hurd, Pierre-Carl Michaud, and Susann Rohwedder.
MEDIA CONTACT: Michael Hurd, RAND Corporation, Santa Monica, CA; tel: 310-393-0411; e-mail: mhurd@rand.org
Proceedings of the National Academy of Sciences