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Veterans at the Greenridge Place Memory Care Community on November 10, 2017. Photo: RJ Sangosti/The Denver Post via Getty Images

A recent Health Affairs analysis found that most middle-income seniors aged 75 to 84 will not be able to afford long-term care including senior housing or assisted living in the next decade.

The big picture: The authors project that there will be 14.4 million middle-income seniors in America by 2029. Roughly 60% of those seniors "will have mobility limitations" and 20% "will have high health care and functional needs." However, 54% of those seniors will not have the financial resources to pay for senior housing — and the often necessary care provided there.

Details: The authors identify middle-income seniors as those in the 41st to the 80th percentile of the individual financial resource distribution of 2014 seniors. The authors also state that this diverse group of seniors will become more educated in the next decade, which should result in lower poverty levels.

Go deeper: More than half of federal spending will soon be dedicated to seniors

Go deeper

5 mins ago - Podcasts

Bob Nelsen on AstraZeneca and his plan to revolutionize biotech

AstraZeneca and the University of Oxford on Monday reported promising efficacy data for their COVID-19 vaccine, which has less stringent storage requirements than the Pfizer and Moderna vaccines and may be distributed earlier in developing countries.

Axios Re:Cap digs into the state of vaccine and therapeutics manufacturing with Bob Nelsen, a successful biotech investor who on Monday launched Resilience, a giant new pharma production platform that he believes will prepare America for its next major health challenges.

Ben Geman, author of Generate
Updated 11 mins ago - Energy & Environment

Unpacking Joe Biden's decision to tap John Kerry as his climate envoy

Photo: Pablo Blazquez Dominguez/Getty Images

President-elect Joe Biden is naming former Secretary of State John Kerry as a special presidential envoy for climate change.

Why it matters: The transition team's announcement sought to show that it will be an influential role, noting that Kerry — a former Massachusetts senator and the Democrats' 2004 presidential nominee — will be on the National Security Council.

Dave Lawler, author of World
2 hours ago - World

Oxford and AstraZeneca's vaccine won't just go to rich countries

Waiting, in New Delhi. Photo: Jewel Samad/AFP via Getty Images

While the 95% efficacy rates for the Moderna and Pfizer/BioNTech vaccines are great news for the U.S. and Europe, Monday's announcement from Oxford and AstraZeneca may be far more significant for the rest of the world.

Why it matters: Oxford and AstraZeneca plan to distribute their vaccine at cost (around $3-4 per dose), and have already committed to providing over 1 billion doses to the developing world. The price tags are higher for the Pfizer ($20) and Moderna ($32-37) vaccines.