Today's Date: February 8, 2023
Kessler Foundation grants nearly $1 million to expand employment opportunities for people with disabilities striving to work in   •   Chrissy Teigen Partners with Cord Blood Registry®   •   CCRM Fertility Announces Two New Office Locations in Washington, D.C. and Rockville, MD   •   reVolver Podcasts Launches New Shows on Amp, the Live Radio App from Amazon   •   Fort Health – a New Model to Tackle the Youth Mental Health Crisis in Partnership with Pediatricians   •   HIGHLIGHTS ANNOUNCES LAUNCH OF KINDNESS COLLECTION DESIGNED TO CREATE CURIOUS, CREATIVE, CARING, & CONFIDENT CHILDREN   •   League and HealthSparq Partner to Streamline Health Plan Member Support, Reduce Care Costs   •   Humana and ChenMed Announce Five-Year Network Agreement   •   STAND UP TO CANCER ANNOUNCES FOUR TEAMS FOCUSED ON DIVERSITY IN EARLY PHASE CANCER CLINICAL TRIALS   •   Seda North America Awarded Great Place to Work Certification!   •   Northwestern Mutual Accelerates ESG Momentum in 2022 Sustainability Report   •   Aderant Announces Strategic Partnership with Apperio   •   Skillit Releases Inaugural Craft Intelligence Report; Reveals The Top Competitive Markets for Skilled Labor in 2023   •   Work-Life Imbalance Cited as Top Stressor for Working Women Today, 24 Seven Report Finds   •   INVESTIGATION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Plug Power Inc. and Encourages Investors   •   Children's Cancer Center Announces Vantagepoint A.I. As February Partner Of The Month   •   Large Real-World, Multi-Center Study Demonstrates Viz.ai Platform Saves Critical Minutes in Stroke Care   •   Research Funding Available for Preeclampsia and Related Pregnancy Disorders   •   The Future of the Web is Here: Universe Drops Radical New Brand Campaign and Expands Tools to Empower Anyone to Own Their Corner   •   Study Shows Novel Flavoprotein Fluorescence Measure is Correlated with Age-Related Macular Degeneration (AMD) Stage
Bookmark and Share

PayingforSeniorCare.com Report Finds 4 in 10 Seniors Worry They Won't Be Able to Afford Food and Groceries Due to Inflation

PayingforSeniorCare.com Report Finds 4 in 10 Seniors Worry They Won't Be Able to Afford Food and Groceries Due to Inflation

PR Newswire

The report finds that inflation of goods and services has severely impacted seniors, but inflation of senior living is much softer by comparison.

CHARLOTTE, N.C., Dec. 5, 2022 /PRNewswire-PRWeb/ -- PayingforSeniorCare.com, a comprehensive resource providing financial information for senior care, today released a report examining the impact of inflation on seniors. The two-part report shares findings based on a survey of 1,000 U.S. adults aged 55+, and data showing the best and worst states for senior living inflation in the United States. The report aims to both highlight seniors' inflation concerns, and provide informational resources for those who need financial assistance.

The survey shows that 4 in 10 seniors worry that they won't be able to afford food and groceries in the future due to inflation, and 1 in 5 say that inflation has caused their grocery bill to increase by more than $250 per month. Overall, 1 in 4 seniors say that they've had to make drastic changes to their lifestyle to cope with inflation. For example, more than 1 in 10 seniors say they've had to skip meals to make ends meet, and 1 in 10 say that they've delayed needed medical procedures to save money.

However, our research shows that inflation for senior living is not as extreme. According to data from Caring.com, one of the nation's leading senior living referral services, senior living in the U.S. has not experienced the inflation that other sectors of the economy have. Average assisted living costs have only increased 3.7 percent since 2019, while the Consumer Price Index (CPI), a measure of consumer goods and services, has risen by 15.6 percent during the same time period.

"While inflation remains a serious concern for seniors and the population in general, relatively low occupancy rates in senior living communities driven by COVID-19 has largely kept inflation at bay," says Han Hwang, Caring.com's EVP of Partnerships. "However, we are hearing from operators that rates will continue to increase over time - those prices just haven't caught up yet with inflation in general."

This report finds that not all states have enjoyed the same low inflation of senior living. Several, including North Dakota and Hawaii, have inflation rates of over 20% since 2019 – significantly outpacing the 15.6% inflation rate of the CPI.

Data for this report uses proprietary information about rent costs among Caring.com's senior living partner communities. Learn more about the report's methodology and find resources for seniors negatively impacted by inflation here: payingforseniorcare.com/2022-inflation-and-seniors-impact-report.

About PayingforSeniorCare.com

PayingforSeniorCare.com strives to be the most complete, up-to-date, and reliable source of simple, easy-to-access financial information about senior care. This includes the Eldercare Financial Assistance Locator tool, and other comprehensive resources are continually being added and updated for those in every state in the nation. The site is owned and operated by Caring, LLC, a leading senior care referral service.

Media Contact

DENISE GRAAB, DIRECTOR OF REVIEWS PROGRAM & MARKETING, Caring.com, (650) 762-8190, pr@caring.com

 

SOURCE Caring.com



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News