Description of the problem/issue
Long Term Care (LTC) “is a range of services” one may need to support their personal care needs. LTC helps individuals with some of the most basic Activities of Daily Living (ADL’s) like eating, bathing, and dressing. LTC also helps support Instrumental Activities of Daily Living (IADLs) including: housework, medication management, cleaning, and grocery shopping (“What is Long Term Care?”). LTC services in the United States help meet the needs of older adults with functional limitations and other healthcare needs. LTC services is highly regulated by the government and accounts for a significant component of the health care spending in the U.S. According to the Centers for Disease Control and Prevention (CDC), …show more content…
One reason for this growth is because of the sheer number of the how many baby boomers there are. Another reason is due to medical advances, which has resulted in increased longevity (Calmus, 2013). Unfortunately, many have not prepared fully for the cost of their care. Many argue they do not think they will need a LTC services especially, a nursing home. However, in order to sustain the current system one needs to examine how the baby boomers are going to pay for LTC services, either through insurance or savings. It is critical that policymakers need to “reform the current system to ensure that tomorrow’s retirees have access to high quality care without bankrupting future generations” (Calmus, …show more content…
Care has expanded to more formal home care, aging in place communities, naturally occurring retirement communities, independent and assisted living facilities, and a continuum of care communities. Yet, the most popular care still provided today is informal care without compensation. This is usually done by friends and family who have to give up their jobs to care for a loved one. “The hidden economic impact of this informal unpaid care, primarily on family members, includes reduced household income due to time and focus away from work and the costs that are incidental to care” (Calmus,
Long Term Care (LTC) “is a range of services” one may need to support their personal care needs. LTC helps individuals with some of the most basic Activities of Daily Living (ADL’s) like eating, bathing, and dressing. LTC also helps support Instrumental Activities of Daily Living (IADLs) including: housework, medication management, cleaning, and grocery shopping (“What is Long Term Care?”). LTC services in the United States help meet the needs of older adults with functional limitations and other healthcare needs. LTC services is highly regulated by the government and accounts for a significant component of the health care spending in the U.S. According to the Centers for Disease Control and Prevention (CDC), …show more content…
One reason for this growth is because of the sheer number of the how many baby boomers there are. Another reason is due to medical advances, which has resulted in increased longevity (Calmus, 2013). Unfortunately, many have not prepared fully for the cost of their care. Many argue they do not think they will need a LTC services especially, a nursing home. However, in order to sustain the current system one needs to examine how the baby boomers are going to pay for LTC services, either through insurance or savings. It is critical that policymakers need to “reform the current system to ensure that tomorrow’s retirees have access to high quality care without bankrupting future generations” (Calmus, …show more content…
Care has expanded to more formal home care, aging in place communities, naturally occurring retirement communities, independent and assisted living facilities, and a continuum of care communities. Yet, the most popular care still provided today is informal care without compensation. This is usually done by friends and family who have to give up their jobs to care for a loved one. “The hidden economic impact of this informal unpaid care, primarily on family members, includes reduced household income due to time and focus away from work and the costs that are incidental to care” (Calmus,