health
Americans Are in Denial About Elder Care
Many assume that if they can afford paid help in older age, they won’t need to rely on kin. They’re wrong.
TL;DR
- The Netherlands has generous long-term care insurance, spending 4.1% of GDP, yet nearly half of elderly residents still rely on informal care from family and friends.
- Many Americans mistakenly believe elder care is primarily outsourced to professionals or can be entirely avoided with savings and public services.
- Over 80% of Americans over 65 needing care depend on kin, with about two-thirds relying solely on informal care.
- Even with increased formal care services, informal care would likely remain significant due to psychological resistance to nursing homes or strangers providing care.
- Demographic trends like fewer children, economic pressures on caregivers, and geographical distance between adult children and parents reduce the availability of informal care.