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My assumption is I will be caring for my spouse instead of a nursing home, but my fear is who will be caring for me, who is a good deal younger? No family here
Just curious the data on those who enter nursing homes. What is the percentage they could live at home with some assistance? who needs the actual medical care provided by a professional versus it being provided by a spouse (or SO can be substituted there). Still seeking data on this. Thank you
According to the U.S. Bureau of the Census, slightly over 5 percent of the 65+ population occupy nursing homes, congregate care, assisted living, and board-and-care homes, and about 4.2 percent are in nursing homes at any given time.
The rate of nursing home use increases with age from 1.4 percent of the young-old to 24.5 percent of the oldest-old. Almost 50 percent of those 95 and older live in nursing homes.
Those on this forum who have purchased Long Term Care insurance will often state that 70 percent will need care, but that figure is comprised of and includes all the many people who do not enter a nursing home, but instead have in-home care provided by home care workers.
Last edited by matisse12; 03-26-2018 at 05:18 PM..
Thank you that is very helpful. This is interesting.
What do we know for sure? About 14 percent of all people over age 65 have two to three chronic conditions that erode their ability to live independently. While we may not know exactly how many baby boomers will reside in a “nursing home”, we do know that about 14 percent of this population will become vulnerable enough to require extra care. Based on that statistic, we can expect nearly 11 million vulnerable boomers requiring assistance.
I believe during a Seniors lifetime- this ^^is closer to 80%. Not 14%.
Meaning the majority of people will need help to live independently within their lifetime.
Whether that be someone to just cook & clean a few times a week
advanced care like help bathing and dressing.
Or beyond that which is Nursing home bound.
It doesn't appear to cost as much as people think with the new options available like reverse mortgages which can cover the cost. Save 6.5 months of nursing care ($65K in Calif)and you have likely exceeded what is necessary for just one couple.
If every married couple had 100K equity in their home & 65K saved, that would likely cover their care.
This is NOT counting the medicare deductibles, co-pays and such which I assume is mostly covered by Medi-Gap, retireee insurance, healthcare sharing programs, etc..
You have to keep in mind that some people may be in the nursing home temporarily after surgery or something. It isn't always the terminal stay we commonly think of.
I've worked w/ elder elders, 95-over 100. It's kind of amazing to see how independent even a majority of them have been. They've needed some assistance, but many have walked without even walkers or canes, some needed them though. Many fell and it started a domino effect--surgery, Short Term Rehab, then, hopefully, independence after that.
The amazing thing I've noticed, though, is how some will fracture a hip, pelvis, arm, rehab and become independent again. Astonished even me. The 80's are really young, nowadays. Most didn't get really debilitated till 90 or after, esp. after 95.
According to the U.S. Bureau of the Census, slightly over 5 percent of the 65+ population occupy nursing homes, congregate care, assisted living, and board-and-care homes, and about 4.2 percent are in nursing homes at any given time.
The rate of nursing home use increases with age from 1.4 percent of the young-old to 24.5 percent of the oldest-old. Almost 50 percent of those 95 and older live in nursing homes.
Those on this forum who have purchased Long Term Care insurance will often state that 70 percent will need care, but that figure is comprised of and includes all the many people who do not enter a nursing home, but instead have in-home care provided by home care workers.
The Census Bureau link is correct. The insurance industry wants you to believe the 70% figure for obvious$ reason$ Fact is; there are not enough nursing home beds in North America to accommodate 70% of the over 65 population.
Quote:
Originally Posted by Serious Conversation
You have to keep in mind that some people may be in the nursing home temporarily after surgery or something. It isn't always the terminal stay we commonly think of.
Indeed the case
Quote:
Originally Posted by ItIsWritten.
Thank you that is very helpful. This is interesting.
What do we know for sure? About 14 percent of all people over age 65 have two to three chronic conditions that erode their ability to live independently. While we may not know exactly how many baby boomers will reside in a “nursing home”, we do know that about 14 percent of this population will become vulnerable enough to require extra care. Based on that statistic, we can expect nearly 11 million vulnerable boomers requiring assistance.
I believe during a Seniors lifetime- this ^^is closer to 80%. Not 14%.
Facts are facts. In my former line of work there were a number of seniors who needed in home care. Not anywhere close to 80% but more like 10% to 15%. In CA we have a program called In Home Supportive Services which gives in home help to lower income disabled seniors for free or at a huge discount. It is in the interest of the State to pay a $1000 or so a month for a person to be able stay in their own instead of the $6000 plus to be in a facility. Those with a higher income and/or a boatload of investment $$$ can find in home help for around $20-$25 an hour in my area.
As a side note one of my last clients who was 92 died in a nursing home after 10 days. He broke his hip was in the hospital and sent to a nursing home after a week. He was one of the 50% of folks over 90 in a nursing home. His stay was covered by Medicare
FWIW, in my own experience, I have seen that people in their late 80s/early 90s fall at home, get admitted to a nursing home, and die soon thereafter. Or they get cancer, go to the hospital, are discharged to a nursing home and die there. Or they are sent home to have hospice.
I haven't known that many people who have actually lived in a nursing home for any long amount of time. Assisted living, yes. They live in assisted living for years in some cases. The cost for assisted living around here is $6000-$7000 per month. Even by selling a home with a pretty high value, you're only going to get a few years in assisted living. Those who are quite wealthy can afford to stay in assisted living but maybe with the costs so high now and the lack of pensions that people counted on in the past, more will be living in nursing homes.
Around here, eastern Tennessee, one can find assisted living for a minimum of about $3200 a month. I know this because my MIL, who recently passed just before her 91st birthday, was in assisted living with dementia for over 3 years and we handled her finances. For her, this was manageable through her teachers' pension (about $1200), her widow's SS (about $1200), and about $1150 from VA A&A. It was strictly a "cashflow" situation, because she had virtually no savings left.
War era veterans, and veterans' widows of particular war eras, are eligible for financial assistance from the VA when they are unable to perform particular "Activities of Daily Living" (ADL's). This includes those who are physically capable but for whom dementia makes their living unassisted a danger. Things such as an inability to handle their own money, or vital tasks such as medication management. This is income dependent, so they do require forms to define the person's income and expenses to determine the amount of assistance provided. You will need a doctor's statement, on a simple form, that states your need for assistance with various ADL's. In the case of a dementia diagnosis, it will need to state what sort of assistance is required. In our case it was a MAJOR factor in MIL being able to afford the care she needed, versus living in our home with 24/7 monitoring. It gave her a sense of independence, without her being truly without assistance.
Please note, there is no need to pay anyone to assist you in obtaining these benefits. In fact, it is a federal crime for someone to charge for this service. Please look for the VA "Veteran's Service Officer" in your county for assistance with applying for this valuable benefit.
Around here, eastern Tennessee, one can find assisted living for a minimum of about $3200 a month. I know this because my MIL, who recently passed just before her 91st birthday, was in assisted living with dementia for over 3 years and we handled her finances. For her, this was manageable through her teachers' pension (about $1200), her widow's SS (about $1200), and about $1150 from VA A&A. It was strictly a "cashflow" situation, because she had virtually no savings left.
War era veterans, and veterans' widows of particular war eras, are eligible for financial assistance from the VA when they are unable to perform particular "Activities of Daily Living" (ADL's). This includes those who are physically capable but for whom dementia makes their living unassisted a danger. Things such as an inability to handle their own money, or vital tasks such as medication management. This is income dependent, so they do require forms to define the person's income and expenses to determine the amount of assistance provided. You will need a doctor's statement, on a simple form, that states your need for assistance with various ADL's. In the case of a dementia diagnosis, it will need to state what sort of assistance is required. In our case it was a MAJOR factor in MIL being able to afford the care she needed, versus living in our home with 24/7 monitoring. It gave her a sense of independence, without her being truly without assistance.
Please note, there is no need to pay anyone to assist you in obtaining these benefits. In fact, it is a federal crime for someone to charge for this service. Please look for the VA "Veteran's Service Officer" in your county for assistance with applying for this valuable benefit.
So this $3,200 is for complete room, board, and care plus you pay the deductibles? Jeez that's less than I'll be paying to live when I'm 65 and healthy.
FWIW, in my own experience, I have seen that people in their late 80s/early 90s fall at home, get admitted to a nursing home, and die soon thereafter. Or they get cancer, go to the hospital, are discharged to a nursing home and die there. Or they are sent home to have hospice.
I haven't known that many people who have actually lived in a nursing home for any long amount of time. Assisted living, yes. They live in assisted living for years in some cases. The cost for assisted living around here is $6000-$7000 per month. Even by selling a home with a pretty high value, you're only going to get a few years in assisted living. Those who are quite wealthy can afford to stay in assisted living but maybe with the costs so high now and the lack of pensions that people counted on in the past, more will be living in nursing homes.
this is my experience. I have longevity on my fathers side, all his siblings are 90+. all are living at home, oldest just turned 100.
I don't no one person who spent years in a nursing home or who's spouse was left destitute. I do have a number of friends who are providing assistance to their aging parents. Mainly in the form of helping them shop and get to doctors appts.
My MIL is 85 and even after she fell and had her hip replaced is still living independantly.
I haven't looked into the cost of assisted living around here the trend is definitely stay in home as long as possible.
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