Rising elder-care costs force families into costly, creative solutions
Families across the U.S. are confronting soaring expenses for dementia and long-term care, prompting them to make drastic financial and living-arrangement choices.
Kim Berling, 66, and her 72-year-old husband make a nine-hour drive each month from Albuquerque to Texas to look after her 99-year-old mother-in-law, covering about $6,600 in monthly home-care fees that total $11,000 when other costs are added. In another case, Linda Barton and her spouse spent under $100,000 to construct two tiny homes on their property for their parents, yet still face a three-caregiver payroll that threatens their own retirement savings.
A family of six adult children collectively provides 180 hours of weekly care for their parents, yet still incurs $4,000 per one outlet in expenses. Reporting highlights a 212% increase in nursing-home costs since 1997, with caregiver wages climbing from $21 to $35 per hour by 2025, fueled by higher insurance premiums, transportation costs and private-equity involvement. Howard Gleckman of the Urban Institute points to longer lifespans for both the disabled and Baby Boomers as amplifying demand. These financial pressures are forcing families to quit jobs, relocate, or adopt unconventional housing solutions to keep loved ones at home.
Why it matters
Escalating elder-care costs are straining household budgets and reshaping how families support aging relatives.
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