- The current supply of housing that is affordable to the nation ’s lowest-income seniors is woefully inadequate. As more low-income Americans enter the senior ranks, this supply shortage — currently measured in millions of units — will become even more acute.
- The overwhelming majority of seniors say they wish to “age in place” in their own homes and communities. Y et most homes and communities lack the structural features and support services that can make living there independently a safe, realistic option.
- About 70 percent of adults over 65 will eventually require help with bathing , food preparation, dressing, and medication management— assistance that is referred to as “long-term services and supports,” or LTSS. Medicare does not cover LTSS, though the costs of this care can consume a large portion of a household’s budget. In addition, only a small minority of Americans has long-term care insurance covering these expenses.
- Personal savings are a critical source of retirement funding, but for millions of seniors these savings will fall far short of what is necessary to pay for housing, modifications to make homes safer, LTSS, health care, and other retirement needs.
See the background, discussion and recommendations of Healthy Aging Begins at Home available as a PDF.