Richard Johnson on Likely Baby Boomer Care Needs

Navigating Long Term Care: Insights and StrategiesIn this episode of 'Risking Old Age in America,' host Harry Margolis and guest Richard Johnson, senior fellow at the Urban Institute, discuss the impending elder care crisis as baby boomers age into their 80s. They cover the statistics on elder care needs, affordability, disparities in income and health, and potential solutions including private insurance, public policies, and emerging state programs like Washington's long term care insurance. The conversation highlights the challenge of predicting individual long-term care needs and the possible impacts of an aging population on Medicaid and other government services.More on Richard: https://www.urban.org/author/richard-w-johnson Topics 00:42 Exploring Long-Term Care Needs and Risks 03:37 The Financial Impact of Long-Term Care04:38 Family and Unpaid Care Dynamics05:41 Understanding Nursing Home Costs and Alternatives06:45 Medicare Coverage and the Decline of Nursing Home Use10:47 Socioeconomic Factors Influencing Long-Term Care Needs16:50 Policy Recommendations and Individual Preparations for Long-Term Care24:00 Concluding Thoughts Risking Old Age in America