Page 24 - Senior Times South Central Michigan - June 2018 - 25-06
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Page 24
Senior Times - June 2018
Long Term Care
Bringing New Life to Senior Living
“What I love about my job at Brookdale is that I am able to be a part of so many families. When we have
a new resident join us, it is just expanding on the community we have created here and growing the bond shared by family that has seen fit to call our Brookdale their home.” – Kurt Schroeder, Executive Director
Our Services
Assisted Living | Specialized Memory Care Respite | On-Site Physical & Occupational Therapy
Brookdale Battle Creek
Assisted Living Alzheimer’s & Dementia Care 191 Lois Drive, Battle Creek, MI 49015-7933 Main 269-979-7781 | Fax 269-979-1514 brookdale.com
BROOKDALE® is a trademark of
Brookdale Senior Living Inc., Nashville, TN, USA.
By: Sherii Sherban, Publisher
703 Capital Ave., SW, Battle Creek • www.henryfuneralhome.org 269-962-5191
JOSEPH U. STASA • THOMAS C. COLEMAN • PAULA S. COLEMAN • DENNY P. SEIVERT
IN MEMORY OF OUR FOUNDER, RICHARD A. HENRY – 1926-2015
FEATURING:
• Rehab to Home
• Physical, Occupational
& Speech Therapy Services
• Long-Term Skilled Nursing
• Private Rooms Available
• Respite Care
• Admissions 24 Hours a Day, 7 Days a week
• Cable and Wi-Fi
111 Evergreen Road, Springfield, MI 49037 269-969-6110 | www.evergreenscc.com
The questions surrounding long term care are vast enough but when you add in paying for the cost of care, it becomes even more challenging. When loved ones get to the point of needing a little assistance, rehab, or even skilled care, the looming question is really more about affordability than it is the need for care.
Yes, there are those that have made promises to keep their loved one out of a long term care facility. But the reality is that when the health of the caregiver is also suffering a change must be made. And yet, loved ones will try to keep the aging adult home with them as long as possible.
Outside of having adequate financial resources for direct pay, long term care insurance might be an option for secur- ing the type of care that you hope to have when (or if) it care becomes nec- essary. Some employer-based long term care options are available that have no financial requirement. State and federal programs on the other hand are based, in most cases, on financial need. Currently, we do have wonderful options right here in southwest Michigan. The reality, how- ever, is that care services are constantly evolving along with the increasing need for services.
While statistics are always changing and do vary from community to com- munity they do give at least a baseline to start making decisions for you and your family. Consider the following sta- tistics presented by investing specialist Christine Benz in August, 2017.
USAGE OF LONG TERM CARE:
• 6.3 million – The number of Americans who have a high long-term care need because they require help with two or more activities of daily living or are experiencing cognitive decline.
• 15 million – The number of Americans expected to have a high long term care need by 2050.
• 52.3% – The expected percentage of people turning 65 who will have a long term care need during their lifetime.
• 47.7% – The expected percentage of people turning 65 who will have no long-term care need during their life- time.
• 46.7% – The expected percentage of men turning 65 who will have a long term care need during their lifetime.
• 57.5% – The expected percentage of women turning 65 who will have a long term care need during their life- time.
• 22% – Percentage of individuals over 65 in the highest income quintile who will have a long term care need of two years or longer. These individuals will be able to afford the care that they need.
• 31% – Percentage of individuals over 65 in the lowest income quintile who will have a long term care need of two years or longer. Generally, they will
get support services from local, state,
and federal programs.
• 10% – Percentage of Americans over
the age of 65 who have Alzheimer’s. • 38% – Percentage of Americans over the age of 85 who have Alzheimer’s.
• 2 years – Average number of years that individuals age 65 and older will have a high long term care need during their lifetime.
• 22% – Probability of needing more than one year in a skilled nursing facil- ity for men.
• 36% Probability of needing more than one year in a skilled nursing facility for women.
PAYING FOR CARE:
• $30 billion – Long term care expendi- tures in U.S. 1980.
• $225 billion – Long term care expendi- tures in U.S. 2015.
• 57.5% – Percentage of individuals turning 65 between 2015 and 2019 who will spend less than $25,000 on long term care during their lifetime.
• 15.2% – Percentage of individuals turning 65 between 2015 and 2019 who will spend more than $250,000 on long term care during their lifetimes.
• $217,820 – Estimated end-of-life costs in patient’s final five years for individ- uals without dementia.
• $341,651 – Estimated end-of-life costs in patient’s final five years for individ- uals with dementia.
• $17,680 – Median annual cost for adult day care (five days/week), 2016.
• $43,539 – Median annual cost for assisted living facility, 2016.
• $82,125 – Median annual skilled nurs- ing cost, semiprivate room, 2016.
• $92,378 – Median annual skilled nurs- ing cost, private room, 2016.
• $22,887 – Median annual income from all sources for individuals who are 65 or older.
• $38,515 – Median annual income for households headed by people 65 or older.
• 3.5% – Five-year annual inflation rate in skilled nursing costs, private room, 2016.
• 21.9% – Percentage of long-term care costs that are paid out of pocket, 2013.
• 13.2% – Percentage of people who receive professional home health care who have long term care insurance coverage, 2010.
• $5,518 – Median total household wealth for people who have lived in a skilled nursing facility for six months or more.
• $0 – Median household wealth for peo- ple who have lived in a skilled nursing facility for six years or more.
CAREGIVING:
• 37 billion hours – The annual amount of long term care provided by unpaid caregivers, 2013, valued at $470 billion.


































































































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