The portion of the American population over the age of 65 has risen sharply in recent years. "Baby Boomers" (persons born between 1946-1964) started turning 65 in 2011. It is projected that the number of people over 65 will increase dramatically in the next few years, and that in 2030, the portion of the population over the age of 65 is projected to be over twice as large as it was in 2000, growing from 35 million persons to 74 million. This will represent nearly 21% of the total population. The US Census Bureau also projects that the portion of the population age 85 and over will grow from 6 million in 2014 to 20 million by 2060. According to the US Department of Health and Human Services, it is currently estimated that approximately 52% of individuals turning 65 today will require long-term care at some point in the future.
Long-Term Care Costs are Extraordinary