As long-term care costs explode, a reverse mortgage could help

But there’s a group stuck between the two — those who are too “rich” for Medicaid benefits but not wealthy enough to afford 24/7 in-home care.

According to a recent report from Time, about two-thirds of caregiving hours for older adults in the U.S. are provided by informal and unpaid caregivers. 

David Grabowski, a Harvard Medical School professor who authored a 2019 study about middle-income seniors, told the publication that many seniors will have insufficient resources for housing and health care needs.

By 2033, researchers at the University of Chicago estimate there will be 16 million middle-income seniors who can’t afford to pay for the health, personal care and housing services they need.

Nursing home costs, according to a 2021 study, are estimated at…