NEW REPORT SOUNDS ALARM OVER THE COST OF LONG TERM CARE

It’s no secret that long-term care costs are expected to balloon as we age.

A report out Tuesday, puts the dollar amount on healthcare for older Canadians. The National Institute on Ageing projects that long-term care costs will more than triple within 30 years from $22 billion today to $71 billion by 2050. And it warns that time is running out to improve both availability and quality of care options, putting a generation of Canadian seniors at risk. Co-author Dr. Bonnie-Jeanne MacDonald says by quantifying the economic costs, their report is intended to prompt discussion among all stakeholders – seniors, long-term care providers and government – on what she calls “an immediate and high national priority.”