Your thoughts on global aging growth

Does the Census Bureau’s recent report on global aging growth make you nervous about LTC’s future?

Comments:

– Not enough people are paying attention to the oncoming financial tsunami that this one area will cause our country and the world.

– Until we are individually willing to begin accepting our own responsibility for the cost of living (longer), LTC will remain just another “insurance item.” Since most people don’t save sufficiently for retirement, we need to integrate the idea of LTC into successful retirement living.

– Although the aging of the population will increase, the government is going to incentivize more community based services such as home care and payment of family caregivers at home to cut cost. However, the current cuts in Medicaid and Medicare could cause an access problem as SNFs close and there is a shortage of beds in the long run.

– Our government healthcare and education policies have been outdated for quite some time. We cannot continue to import staff from other countries while our own country now uses LTC as the system of last resort for care—especially with the trend of “protecting assets” through trusts. Unless we create a program that coordinates last stage life care with the medical home, the LTC industry runs the risk of watching the tail wag the dog.

– Like past crises society waits until it’s on the front doorstep until action is taken. The oncoming crisis in LTC is another case of history repeating itself.

What are your views on the potential effects of global aging on the long-term care field? Post your response in the comments below.