Back to today’s briefing

Story perspectives

Retirees Drain Savings After Medicaid Win Amid Care Cost Surge

7/19/2026

41 9 Full Breakdown

Summary

Story summary

Ken Sternfeld, 71, and his wife Ronnie qualified for Medicaid after a year-and-a-half of appeals, wiping out their retirement savings.
They now receive about 10 hours of in-home care each day while Social Security covers only rent.
An AARP study reported long-term care costs rose nearly 50% from 2019 to 2024, outpacing incomes.
Caregivers supplied 50 billion unpaid hours in 2024 valued at $1 trillion while a caregiver tax credit remains stalled.

1 of 1

Story summary

Ken Sternfeld, 71, and his wife Ronnie qualified for Medicaid after a year-and-a-half of appeals, wiping out their retirement savings.
They now receive about 10 hours of in-home care each day while Social Security covers only rent.
An AARP study reported long-term care costs rose nearly 50% from 2019 to 2024, outpacing incomes.
Caregivers supplied 50 billion unpaid hours in 2024 valued at $1 trillion while a caregiver tax credit remains stalled.