While inflation is cooling and prices in areas like energy, autos, and some food categories are dropping, senior citizens are not feeling the benefits as many of their other expenditures are still moving upwards. Yahoo Finance senior columnist Kerry Hannon reports that key senior expenses like housing, electricity bills, and medical care are ticking upwards.
Hannon takes a closer look healthcare spending noting the cost of inpatient and outpatient care as well as home healthcare services are all increasing. Hannon continues explaining that most seniors cannot afford assisted living, so the recent double-digit increase in home healthcare costs can pose a heavy financial burden on some seniors’ finances.
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This post was written by John Lesinski
