Long Term Care Considerations for Our Future

In the October, 2011 issue of “Caring”, published by NAHC, the National Association for Home Care and Hospice, Val Halamandaris cited the following statistics:

1.  Beginning in 2011, and for the next twenty years, the 78 million baby boomers will be retiring at the rate of 10,000 a day.

2.  There are, in addition,  12 million disabled persons and 45 million seniors; 135 million Americans (including the boomers), who will need help to remain independent in their own homes and avoid institutionalization.

3.   Help required will include: getting out of bed, toileting, getting dressed, preparing meals, and eating.

4. Funding sources for home care will change by 2016:

      a.  Medicare will increase from $18 to $40 billion but will still be the smallest payor for home care.

      b.  Medicaid funding for home care will increase to about $80 billion

     c.  Private duty and private pay, at about $200 billion, will be the largest payor.  Most home care will be paid for  by individuals from their own resources.

  “Leading the Last Great Civil Rights Battle…” by Val J. Halamandaris, Caring, October, 2011 p. 18-25

No matter in which age category you currently find yourself, the aging population in the United States and the needs of individuals for personal assistance to remain independent in their homes and not be institutionalized, will directly impact all of us in this country.

Once again, I urge you to begin your personal planning and evaluating your insurance coverage and financial situation, both for the short and long term.  Also anticipate the possibility that you might be contributing to the care of your parents or other elderly relatives; financially or in actual care-giving.



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