Increased Demand for Home Care
According to a new study, the cost of many long-term home care services are increasing faster than inflation. In fact, it is expected that in 2050, the United States’ long-term home care services bill will reach $379 billion. The type of care in highest demand includes home care, performed by a non-medical home health aide whose costs remain flat throughout most regions of the country.
Shortage of Caregivers
Despite the growing demand of in-home care services, there is still a shortage of non-medical caregivers to satisfy industry’s growing trend, thus, increasing the costs of long-term care. It is predicted that in 2030, the population of Americans of 65 years will double, requiring the nation to recruit 200,000 new caregivers each year to meet the demand of in-home care,
Growing Population of American Seniors
In the 2000 Census, 35 million Americans aged 65+, a 12% increase compared to the 1990 Census when 31.2 million American seniors were counted.
According to the Department of Health and Human Services, only a third of Americans choose to provide home care to their elderly loved ones when needed.
According to The National Council on Aging and The Pew Charitable Trusts, almost 7 million Americans provide home care or manage the care for seniors aged 55+ who live at least one hour away.
According to the National Council on Aging, it’s estimated that nearly 15 million days of work are missed when a family member serves as a long-term home care aide.