The long-term care industry has grown rapidly in the past decade due to growing demand generated by our aging population. This demand will only increase as we live longer and more individuals reach the age where they will be more likely to require some type of long-term care.
Looking at the Numbers
70% of people turning age 65 can expect to use some form of long-term care during their lives. (U.S. Dept. of Health & Human Services)
Baby boomers started to turn 65 years old in 2011.
The number of older people will increase dramatically in the period from 2010 to 2030. By 2030, the older population is projected to be twice as large as it was in 2000 – growing from 35 million to 71.5 million people. (2009 Long Term Care Insurance Sourcebook, American Association for Long-Term Care Insurance)
The population 65 years and older is increasing as a percent of total population. Of the older population with long-term care needs, about 30% have substantial long-term care needs. Of these, about 25% are 85 and older, and 70% report they are in fair to poor health. (Long-term Care: Medicaid's role and challenges, Publication #2172, The Henry J. Kaiser Foundation)
40% of the older population with long-term care needs are poor or near poor (with incomes below 150% of the federal poverty level). (Long-Term Care: Medicaid's role and challenges, Publication #2172, The Henry J. Kaiser Foundation)
There are over 44 million caregivers, or one out of every five households, involved in caregiving to persons 18 years of age or older. 34 million caregivers provide care to someone 50 years of age or older. (Caregiving in the U.S., National Alliance for Caregiving and AARP)
By 2050, the number of individuals using paid long-term care services in any setting – at home, residential care such as assisted living, or skilled nursing facilities – will likely double to 27 million people from the 13 million who were using long-term care services in 2000. This estimate is influenced by growth in the population of older people in need of care. (The future supply of long-term care workers in relation to the aging baby boom generation: Report to Congress, U.S. Department of Health and Human Services and U.S. Department of Labor)
What Can You Do?
How will your aging loved ones be cared for? How will you be cared for? What laws and regulations impact safety and quality of care in this fast-growing industry? You can make your VOYCE heard by joining our VOYCE Action Network to receive public policy alerts.
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