Residents Paying Millions for Nursing Home Space

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.

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