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Assisted living - Only for the well-off
Assisted living facilities are more accessible to the wealthy, writes BusinessWeek. The magazine cites research from a recent study that shows assisted living facilities are concentrated in areas with higher income, education and home values.
College education rates were nearly 20 percent, compared to just 13.8 percent in areas without facilities. In areas with assisted living facilities, more residents relied on private insurance to fund their stay. Furthermore, the more facilities in an area, the more likely residents were to have long-term care insurance.
About the Author
Danielle Andrus, AdvisorOne
Danielle is the managing editor of Investment Advisor magazine. She has been a part of the publishing industry since 2006, covering the advisory industry since 2007. Danielle has a BA in Economics from the University of California, Santa Cruz, and is a member of the Society of Professional Journalists.
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