- Most Viewed
- EBRI Bibliography By Topic
- Data Book
- Facts from EBRI
- Fast Facts
- Issue Briefs
- Policy Books
- President’s Reports
- Press Releases
- Special Reports
- Benefit Bibliography
- Benefit FAQs
- Links to Other Internet Resources
- Reference Shelf
- Special Issues of Periodicals
- What’s New in Employee Benefits
Effects of Nursing Home Stays on Household Portfolios
EBRI Issue Brief #372
Paperback, 20 pp.
PDF, 778 kb
Employee Benefit Research Institute, 2012
- Nursing home stays among retirees have increased steadily during the past decade. Among people age 65 and higher, nursing home stays increased from 6 percent in 2000 to 8.5 percent in 2010.
- Nursing home stays have strong and statistically significant negative effects on every type of household asset holdings except higher-risk assets (such as stocks, bonds, and mutual funds).
- Among nursing home entrants, purchase of long-term care insurance (LTCI) has also increased steadily during the past decade, but coverage remains low (14 percent in 2010).
- For those who spent six months or more in a nursing home facility, nearly half were covered by Medicaid.
- Those who reported being most likely to enter a nursing home in the near future were also less likely to purchase LTCI.
- Over the past decade, use of professional home-health care has increased steadily, as has the percentage of people with LTCI who use professional home-health care. But here also (for those using home-health care), LTCI coverage is low—13.2 percent in 2010.
- For those who have lived in a nursing home for six months or more, the median total household wealth was only $5,518.
- After respondents’ first entries into a nursing home, total household wealth fell steadily over a six-year period. By comparison, household wealth increased steadily over any six-year period for those who never entered a nursing home.
- For nursing home entrants, median housing wealth falls to zero within six years after the initial nursing home entry.
- Both mean and median levels of every type of wealth are much higher for those who did not use professional home health-care than those who did.
- 401(k) Valuations Published: October 1, 2015 401(k) Balances and Changes Due to Market Volatility
- Data Book Last Updated: July 2014 A comprehensive collection of the most up-to-date benefit information available