I was intrigued by a recent report in the Detroit Free Press by Robin Erb, “AARP: Michigan too quick to put elderly in nursing homes” which highlighted the problem faced by Michigan— but, is frankly applicable everywhere— the spiraling cost of providing nursing home care to an expanding elderly population. Citing statistics from AARP,… Continue Reading
Tag Archives: nursing home costs
Ouch! Chicago Nursing Homes Average $77,198 Per Year
Posted in EconomicsAs if there wasn’t enough depressing economic news already bombarding you on a daily basis, a new report in Crain’s shows the cost of long-term care in Chicago has been increasing 6% annually since 2005– more than three times the rate of inflation. According to a study completed by Genworth Financial Inc., the average cost… Continue Reading