CBO: Long-Term Care Spending to Grow

Spending on long-term care services and support, now at an estimated 1.3 percent of gross domestic product (GDP), could grow to anywhere between 1.9 percent of GDP to 3.3 percent of GDP by 2050, according to a new CBO analysis. The budget analysts cautioned that the projections are “subject to considerable uncertainty.” Estimates could be affected significantly by things like changes in how the services and support are delivered, changes to family structures, future labor costs and other factors. The report comes out a day before the new federal long-term care commission is scheduled to meet.

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