More than 53 million Americans are unpaid caregivers for family members. The majority are women—often, an adult daughter who lives closest to an aging parent starts out helping with daily activities. As the parent/care recipient requires more assistance, the daughter cuts back on work hours– risking her own financial security.
Nursing homes are expensive with an average cost in the United States of $7,698 per month (2020 average). Most people cannot afford this expense, but they are in desperate need of the services provided by nursing homes (long-term care facilities).
For people age 65 or older in that situation, Medicare is generally the solution. While some in that age group might already have signed up at age 65 when first eligible for coverage, others may have delayed fully enrolling, due to qualifying for health insurance elsewhere — i.e., through their job (or their spouse’s).