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The Economy and Long-Term Senior Care
Changes in the economic landscape have affected just about everyone, seniors not excepted. Although some of the personal funds available to purchase long term care may have evaporated, the need is still there for many of our elderly. What do we see in the near future for those who need care, and for those of us who are/will be responsible for seeing that our older loved ones get the care they need and deserve? 1. It may become harder to qualify for Medicaid. Although there doesn't appear to be anything significant pertaining to Medicaid in recent federal legislation, a substantial portion of Medicaid is funded by the individual states. State Medicaid budgets are stretched to the maximum now. We predict new attempts by the states to further tighten eligibility restrictions and coverage. Even the best elder law attorneys don't know exactly what changes might be coming, but they usually know what is being debated in their local state legislature long before new laws are passed. If you think your elder might need Medicaid assistance, it would be a good idea to consult with a lawyer who specializes in elder law before the need for care is urgent. 2. More families will choose to care for their elders at home The cost of nursing home and assisted living care continues to rise, albeit not as quickly as in the recent past. However, at a national average cost of over $76,000 per year for nursing home care and over $40,000 for basic assisted living, many families will decide that they can provide care at home for less. As an added benefit, families with one un- or under-employed adult may find that negotiating a caregiving contract with their senior also helps to replace a portion of their lost income. 3. Some nursing homes and assisted living facilities will close their doors As the costs of doing business continue to rise and it becomes more difficult to find new residents who can pay privately for care, bankruptcies among nursing homes and assisted living residences will rise. Facility closures are extremely hard on frail, elderly residents, who often have to move with little notice. Finding a new facility with little advance notice is also highly stressful for family caregivers. Families who are in the process of assessing local facilities for an elderly loved one would be wise to look closely at the financial health of any facility they choose. 4. There will be more applicants for hands-on care jobs While the scarcity of good jobs will increase the number of applicants for care provider jobs, the quality of care given by these workers is unlikely to be better. Personal care work requires dedication and a "calling," for lack of a better term. Individuals who take caring positions because that is the only work available are less likely to be highly qualified. They are more likely to be unhappy with their duties, their pay, and their work environment. They will jump ship at the first chance of a "better" job. Families will have to be more watchful and should listen closely to their loved ones and other residents and their families when they visit. The upside to this predicted trend is that good caregivers will probably be more inclined to stay when their working conditions and pay are adequate. In that case, staff turnover in the better facilities will decrease, which is good for everyone. 5. The number of Adult Day Activity centers and other innovative programs will increase Families caring for a senior at home will still need breaks, and seniors will still need stimulation and a safe place to go during the day. The number of good adult day activity centers and other community programs will increase as families look for daytime respite. Stimulating adult day programs have proven to be beneficial to everyone, so anything that encourages more of these programs has to be viewed as a positive.
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