Here are some facts about aging in Montana and nationally:

--By 2030, one in every four Montanans is expected to be at least 65 years old. For the rest of the country, that proportion will be about one in five.

--The last baby boomer turns 50 in 2014. Nationwide, 10,000 people are turning 65 every day, and that level will continue for the next 18 years.

--If people live to reach age 65, they can expect to reach 82, according to the Harvard Health Letter. If they make it to age 85, they can expect to reach 90.

--Of all the people who ever lived to age 65 since the dawn of humans, two-third of them are walking the earth today.

--Nationally, more than 30 percent of Social Security recipients are totally dependent on a Social Security check, while 65 percent are mostly dependent on Social Security. Montana’s statistics are within that range.

--The cost of health care is expected to double by 2020 as a result of the inflation of health care costs and the growing elderly population.

--As people live longer, it put financial pressure on the financial security of baby boomers, who on average have retirement savings of only $50,000.

--Last year in Montana, Social Security paid $1.9 billion in benefits to recipients age 65 and older and $600 million to younger disabled workers and survivors, with children accounting for more than 22,000 of them.

--A total of 139,855 Montanans received Social Security last year, with an annual average benefit of $13,400. That’s 58 percent of the total income of the typical Montana senior and at least 77 percent of income for low- and middle-income seniors.

--The United States faces what AARP calls “a mammoth need for care-giving, most of which is done by family members contributing their time valued at more than $400 billion worth of labor and rising.” In Montana, an estimated 191,000 family members serve as caregivers at any time during the year at a value of $1.39 billion.

--Out-of-pocket health care costs for a Medicare beneficiary cost an average of about $4,600 a year. Medicare doesn’t cover long-term nursing home care or routine health care, dental, hearing and vision care. A semi-private room in a Montana nursing home costs about $70,263 a year, according to a Genworth survey cited by AARP.

--Source: Remarks prepared for delivery by Rob Romasco, national president of AARP.

Subscribe to Breaking News

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.
0
0
0
0
0