​Summary: People with disabilities who need help to remain at home and maintain their independence are at increased financial risk due to out-of-pocket spending on health care and on home- and community-based services. Rates of economic hardship are especially high for those who need long-term services and supports (LTSS), even among those with substantial financial resources. In this fact sheet, authors provide a state-level population view of the financial difficulties experienced by older adults and adults with disabilities in California. Data were obtained from the California Long-Term Services and Supports (CA-LTSS) study, a follow-on survey of the 2019 and 2020 California Health Interview Surveys (CHIS). They examine types of financial difficulties older adults and adults with disabilities face and the prevalence of three specific financial difficulties by race of respondent.

Findings: When asked about specific financial challenges experienced in the last 12 months, 2 in 5 respondents reported that they had cut down on the amount they spent on food and/or cut back on saving for retirement. Respondents who identified as biracial/multiracial or as Black or African American were the most likely to report cutting down on the amount spent on food (57.1% and 56.7%, respectively). A majority of respondents (61.4%) reported they were very or somewhat worried that their total family income was not enough to meet their living expenses and bills. Authors underscore that making LTSS more affordable and accessible can improve the health, well-being, and quality of life for individuals, while reducing the costs borne by states by avoiding unnecessary and costly institutional care.

This fact sheet is funded by the California Department of Health Care Services (Grant Agreement 18-95340).