Nursing homes are facing a double-edged sword. Just when the baby boomer swell is rolling in, economic woes, increased costs, and decreased funding are causing nursing homes to decrease staff and services. Some are even needing to shut down.
The recession and deep funding cuts from federal and state governments are putting a great burden on struggling nursing homes who are trying to stay afloat. More of the cost of care of the elderly is being placed on the families of those who need nursing home care.
According to the Associated Press, a Medicare rate adjustment cut an estimated $16 billion in nursing home funding over the next ten years. This is at a time when aging baby boomers are coming into a time of needing those very nursing homes.
Many states have already cut funding, and more cuts are on the way as budgets are hacked to meet budget constraints.
Unfortunately, those most affected are the low-income elderly or disabled who have no financial backing to support their nursing home stay.
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