U.S. long-term-care spending for seniors will grow at a moderate pace over the next few decades as seniors become less impaired overall, reaching $540 billion in 2040, or 2.3% of the Gross Domestic Product, from $195 billion in 2000, or 2% of the GDP, the Congressional Budget Office said. If impairment does not lessen as anticipated, spending on long-term care will reach $760 billion in 2040, about 3.3% of the GDP. Costs could be higher if impairment worsens as some researchers expect, the CBO told a Senate subcommittee on health. Seniors paid out-of-pocket for about one-fifth of total long-term-care costs in 2004 -- about $5,000 per impaired senior, the CBO said. -- by Ralph Loos
CBO projects modest growth in U.S. long-term-care costs
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