Archive for February 9th, 2011

Residents Paying Millions for Nursing Home Space

Wednesday, February 9th, 2011

In other news, we’ve recently realized just how desperate the elderly are becoming as they search for quality long-term care. The Sydney Morning Herald recently reported that future residents of elderly homes are putting up bonds valued at more than $2 million in order to ensure they’ll have space in a home later in life.

This amount is realistically unreasonable. By the time they’re done paying the bonds they will have spent an amount that is at least 2-3x what they would actually pay for the care itself.

Sounds like the government needs to focus a bit more on making sure there is space so that everyone can receive care. This type of financial abuse is simply unacceptable.