Financial Challenges for Elder Care Vary by State

Apr 10, 2018 | Elder Issues

If you are paying the bills for caring for an elderly family member, much depends on the state of residence.

As the costs for caring for the elderly has grown significantly over the past years, many families face rising pressure in paying the bills. Living in the wrong state can make it even worse, according to the Financial Advisor in “Worst States if You’re Caring For An Aging Parent.”

Those states included on the list are a very diverse group. Wyoming and New York do not have very much in common.  However, they are both on the list of the worst states for caregivers. A common factor of states on the list is the high cost of nursing homes and home health aides.

In some states, that can be partially explained by the high costs of living.  However, a lot of it has to do with large populations needing care. In states such as Wyoming, a limited number of nursing homes and home health aides increases costs for those who need them. The states on the “worst list” are those doing the worst at providing the necessary infrastructure for America’s aging population.

The cost of caring for the elderly is expected to increase, as the percentage of elderly Americans continues to grow.

Reference: Financial Advisor (Feb. 22, 2018) “Worst States if You’re Caring For An Aging Parent.”