Why you should care about long term care

WHY YOU SHOULD
CARE ABOUT LONG
TERM CARE
www.aloveforlifellc.com

Our population
is aging rapidly

• 1946 – 1964
• 76 million
babies
• Largest
generation in
history
Baby Boomers then

Baby Boomers now
• 50 – 68 years old
• 20% of Americans

75% of seniors
65+ need long
term care

2014
45.5 million seniors
2050
110 million seniors

HOW
do we take
care of this many
seniors?

ALZHEIMERS PREVALENCE
200k under 65
1 in 9
65+ (11%)
1 in 3
85+ (33%)
5.2 million 65+

HOW
do we take care of this many
people with dementia and
other chronic medical
conditions?

Alzheimer’s Cases Increasing
(thousands/annually)

Alzheimer’s Projected Increase for 65+

HOW DO WE
PAY THE BILL?

Cost to Treat Alzheimer’s & Other
Dementias
2050
$1.2 Trillion
2014
$214 Billion

WHO
is going to take
care of US?

30% of
seniors 65+
will need
specialized
geriatric
care

There is a
significant
shortage of
qualified
geriatric
professionals
and caregivers

Currently 7500
17,000 needed now
30,000 needed by 2030

PAID CAREGIVERS
High demand
Home health aides are
the fastest growing
occupation in NM
High turnover/burnout
rates
Recruitment and retention
challenging

UNPAID CAREGIVERS
Usually family
High stress
Financially draining

Untold numbers of aging Americans won’t
get enough care, and caregivers will suffer
from stress and depression, endangering
their own health.
The New York Times, October 2013

GOVERNMENT LEADERSHIP
beginning
to recognize there is
a problem

The Commission on Long
Term Care report was
published in Sept. 2013
with 28 proposals for
action

However there is a
serious lack of concern
about this issue within
the general public

I’m young. I’ll worry
about Long Term Care
later.
I won’t need Long
Term Care

SO WHAT ARE
THE OPTIONS
FOR LONG
TERM CARE?

Skilled Nursing Facilities (SNF)
Assisted Living Facilities (ALF)
In Home Care (Private Care)

WHAT WILL
LONG TERM
CARE COST?

We could not find
anything suitable!
National
Annual Increase for past 5
years (%)
New Mexico
Annual Increase for past 5
years (%)
Private Room Nursing
Home
$84,000 (4.45%) $80,000 (7%)
Assisted Living
Facility
$39,600 (4.2%) $42,000 (7%)
In-home for home-
maker services (per
hour)
$18/hour $19/hour (2.0%)
In-home, home
health aide
$19/hour $20/ hour (3.0%) ~
$15,000/month
Cost of Care
(annual median-2014)

HOW WILL
WE PAY FOR
LONG TERM
CARE?

Medicare will only
help with short-
term payment
for Skilled
Nursing Facilities
(with restrictions)

Medicaid will cover long
term care only after all
assets have been “spent-
down” to a minimal
amount (~$2000).

There is typically a long waiting list
to qualify for Medicaid assistance

Many long term care
facilities do not accept
Medicaid due to low
reimbursement.
Finding a suitable long
term care facility could
take time

Those facilities that
do accept
Medicaid patients
may only have a
limited number of
“Medicaid” beds

Other Payment Options
Medicaid represents all Medicaid
funding for Long Term Care
including the young, old, and
chronically ill
“Out-of-Pocket” is typically self-pay,
fee-for-service
“Other” typically represents Long
Term Care insurance
reimbursement

The incidence of Alzheimer’s Disease and other
types of dementia is significantly increasing

There is a significant and
increasing shortage of
Geriatric Professionals and
other paid caregivers

The cost of care
is increasing
every year

There is very little
governmental subsidy
for long term care at
this time.

ARE YOU PREPARED?
BE PROACTIVE
START PLANNING
NOW!

THAT’S WHY YOU
SHOULD CARE ABOUT
LONG TERM CARE

Roann Sexson RN, MBA owns and operates two
Assisted Living Homes in Albuquerque, New
Mexico.
“As a registered nurse I have always had a
passion in my heart for elder care. At times I see a
sense of helplessness in elders; individuals that
were once so vibrant, so productive in their
professional and personal lives. The physical and
mental ravages of age can be brutal. I wanted to
use my professional skills and my passion to do
something that would positively impact these
individuals…I followed my heart and founded A
Love For Life, assisted living homes for seniors.”
EMAIL
LINKEDIN
(505) 350-2563

Why you should care about long term care

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