Seniors today are facing different challenges when it comes to housing and healthcare than past generations.
We name the facts about senior living that will surprise you!
10 Shocking Seniors Living Facts
Check out the following facts about senior living that may surprise you:
1. 85 is the new 65
Healthcare advancements and a focus on prevention are allowing seniors to live longer, more active, and healthier lives. In fact, the population of older seniors is projected to increase from 5.7 million in 2011 to 14.1 million by the year 2040.
The gender gap in life expectancy is narrowing, with men usually outlived by about seven years. In 2013, the difference narrowed to less than five years, with the average man living to 76.4 years of age and the average woman living to 81.2 years of age.
2. Diversity is Needed
With the massive population of aging baby boomers, the number of Americans aged 65 and older who need nursing home care could rise by up to 75 per cent – from 1.3 million to 2.3 million in 2030.
The increased number of seniors seeking treatment has resulted in a greater need for diverse and patient-centered elder care, in addition to the longer lifespan of Americans, that can adjust and change with a person’s changing needs as they age.
3. Independent Females Are the Norm
The typical assisted living resident is an independent female. Assisted living communities have a 7:1 ratio of women to men. They are typically living with a chronic condition, like high blood pressure or osteoporosis. Also, mobile and in her later 80’s that’s mostly independent, requiring minor assistance with activities like bathing, dressing, eating or medication management
4. Specialization is Increasing
Specialized elder care will become more important as baby boomers become older adults, including dedicated support and compassion for patients with Alzheimer’s disease and dementia. It’s estimated that by 2050, the number of Americans living with Alzheimer’s disease will almost triple to 14 million.
5. Most Expensive Care Option
The most costly type of long-term senior care is Skilled Nursing Facilities, far exceeding the cost of treatment given in other settings. The Family Caregiver Alliance estimates that the average spending per elderly adult in a Skilled Nursing Facility can be 4x higher than the average spending for that person receiving paid treatment in the community. With a wave of aging baby boomers coming our way, the cost of care in skilled nursing facilities is not financially feasible as they are currently modelled.
6. The Real Cost of Long-term Care
The Family Caregiver Alliance estimates that one in four individuals aged 45 and over is not financially prepared at all if long-term care is unexpectedly needed for an unspecified period of time. This figure alone is not necessarily alarming, but a lack of planning is a sign of a larger problem. Actually, almost one in five will pay more than $25,000 in out-of-pocket treatment expenses by the moment individuals hit their senior years.
7. The Types of Care are Changing
It’s no wonder that home-based care is on the rise as a cost-effective option, with the steep cost of skilled nursing facilities and a nationwide emphasis on helping people stay where they want to be, in their own homes. The Family Caregiver Alliance shows that 80% of the vast majority of elderly people seeking assistance live in private group homes, not institutions.
8. Costs of Your Own Home Aren’t Beneficial
People wish to stay as long as possible in their own home. Though it may not be the best financial choice to own their own home and the expenses that come along with it. They report expenses such as:
- Replacement of furnace and central air conditioning systems – approximately $10,000
- Lawn care for 10 years – approximately $25,000
- Replacement windows for an average home – approximately $11,000
- Roof replacement using composite shingles for an average home – approximately $20,000
9. Don’t Avoid Planning
Planning and sharing end-of-life wishes with relatives, however, is still a subject most seniors avoid. It’s time to start these conversations with many helpful resources available–you’ll feel relieved to have a plan in place.
10. Staying Active is the Best Prevention
When it comes to senior living, one thing is for sure: staying active is the best way to maintain good health and independence. Seniors who do any amount of exercise appear to live longer and have a lower risk of disability. Even if you have never led an active lifestyle before, the benefits of exercise were experienced by those who began exercising between ages 70 and 85.
The Victorian Assisted Living and Retirement Community
The Victorian is an assisted living and retirement community that makes living independently, while at the same time feeling safe and secure, a reality. We strive to provide the best quality of life for all residents including those suffering from loneliness and depression.
We offer a comprehensive activity program that includes both physical and social activities to encourage emotional well-being. Our staff is trained to assist those with depression. If you or a loved one are considering assisted living, contact The Victorian today to learn more about our services or tour our community.