Society & Aging
Up to 40% of US adults aged 65+ need assistance with daily living activities and 40% of the 65+ population are likely to eventually enter a nursing home vs. the OECD average of 12% (Source: Health and Retirement Study, PRB, KPMG, Medicare). Total public spending on long-term care currently accounts for 1.4% of OECD GDP and is expected to double to by 2050 (Source: OECD) - with individuals and families bearing an increasing share of the costs.
The Silver Dollar- longevity revolution primer
Bank of America Merrill Lynch; 06 June 2014