Iftheyare tooold to take care of themselves or if they're really old day over 75 then they usuallylive in old-folk's homes nursing homesorspecialapartment complexesdesignedforsenior people.
Simply put, if the residents of nursinghomes did not have Medicaid and Medicare to help pay for their medical costs and nursinghomes, many senior citizens would be priced out of nursing home care altogether.
Private, for-profit nursinghomes and other nursing care facilities have experienced stable revenue growth and improving profitability in recent years, according to a financial statement analysis by Sageworks, a financial information company.
And with the baby boom generation expected to swell the ranks of the U.S. elderly between now and 2030, operators of nursinghomes and other nursing facilities have a lot at stake in the discussion.