The baby boomers generation were born between 1946 and 1964 – the years considered as U.S. renaissance. They enjoyed the most flourishing years in U.S. history than any previous generation. Although boomers had indulged the comforts of those successful years,The Looming Crisis for Baby Boomers Articles everything changed and fate became cruel for them to endure the transformations in the society. Today, the boomers make up the large sector of the population and will soon outrank the elderly as they reach retirement.
The most serious problem faced by baby boomers is retirement. Baby boomers lived in the age where elders were cared in their homes by their children and grandchildren. However, in modern times, the seniors are forced to stay in nursing homes or assisted living facilities until they die because most of their families are not willing to care for them. Nowadays, about 55 percent of seniors aged 85 and above need long term care and about 19 percent of all seniors are afflicted with chronic illness or disability.
Long term care, is no doubt, the most talked-about and alarming health care issue that bothers millions of American seniors. The prices of long term care are very expensive and continue to increase in line with the inflation. The total yearly long term care expenditure for an elderly could reach from $135 billion and above, leaving the burden on the seniors and their families. Baby boomers are expected to suffer on sustaining the costs of care as the prices of nursing homes will have tripled over the next 25 years.