Providing market intelligence for more than 35 years

Health

Faltering Economy Blamed for Stranded Eldercare

Two articles in today’s issue of the Wall Street Journal examined the eldercare market from two different angles. One article highlighted recent budget woes at more than 15 states in the U.S., which resulted in funding cut for home and community care services. The fragile and the disabled are hit particularly hard as states like Alabama, Massachusetts, and Alabama started to scale back various Medicaid Waiver programs usually targeting this vulnerable population. These beneficiaries will also find longer waiting lists, reduced state subsidies, or complete elimination of reimbursement for certain home support services. Worst of all, since there is no light at the end of the tunnel for our economy, more cuts are likely, according to the article.

A separate article looked into an AARP report released recently. The report found that families who care for clinically ill relatives increasingly felt the pinch both economically and psychologically. As high as 34 million Americans provide unpaid care to their loved ones at a certain point in any given year. Their services carry a hefty $375 billion price tag in 2007, up from $350 billion in 2006.

Combined together, the two articles painted a grim picture of the eldercare market where the fragile and the disabled are left with a shrinking pool of helpers and rising cost of care. Who will bail them out?

More from

September 19, 2022

The Advantages of OTT Bundling - Insights from Verimatrix

Parks Associates’ Future of Video: OTT, PayTV, and Digital Media continues on Thursday, September...

Read More

June 22, 2022

Parks Associates Announces Firstlight Media as 2022 Future of Video Sponsor

Parks Associates’ Future of Video: OTT, Pay TV, and Digital Media is excited to announce Firstlig...

Read More

July 31, 2022

Parks Associates Welcomes MediaKind as 2022 Future of Video Sponsor

Parks Associates’ Future of Video: OTT, Pay TV, and Digital Media is excited to announce MediaKin...

Read More
Phone:
972-490-1113
Mailing Address:
Parks Associates 5080 Spectrum Drive, Suite 1000W Addison, TX 75001 USA
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Broadband Small-to-medium Business (SMB) Connected Health
Services
Research Services: Custom and Consulting Research Projects Streaming Video Tracker Security Tracker Smart Home Tracker
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces Upcoming Industry Events
Resources
Press Releases Analyst Blog Parks in the News Connected Consumer Podcast 
About Us
Overview Team Contact Us
Store
View Your Cart

Follow Us to stay informed

© 2023-2024 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive