Nearly 70% of older adults will need long-term care services, according to Harvard’s Joint Center for Housing Studies. But for many individuals, the cost of affordable long-term care services is beyond their reach in an industry facing higher labor and supply costs, a labor shortage, and other challenges. According to KFF (Kaiser Family Foundation) and The New York Times, nearly three million older Americans who need long-term care are not receiving it due to lack of accessibility and the high cost of assisted living facilities, nursing homes, and aides at home.
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