ASSISTED LIVING NEEDS AND COSTS $8,821
need assistance with bathing
63%
need assistance with dressing
48%
need assistance with toileting
40% MILLION
On average, needs assistance taking nine daily medications
have alzheimer’s or Dementia
42%
VULNERABLE SENIORS
Addresses the social determinants of health for
seniors: Nutrition, Housing, Monitoring Medications, and Social Interaction
Most live with comorbidities such as
heart disease and arthritis
*Home Health Aide
Nursing Home
Assisted Living
LONG-TERM CARE MONTHLY COSTS:
Genworth, 2020 Cost of Care Survey *based on only 44 hours of care per week
THE NUMBERS ARE GROWING
• About 10,000 people turn age 65 each day, and estimates are that 50% to 70% of these people will need some form of care in their lifetimes.
• The number of people age 65 and over is projected to grow to 73.1 million by 2030.
• The number of those age 85 and over is projected to increase from 6.7 million in 2020 to 9.1 million by 2030.
73.1 56.1 49.2 14.4 6.4 0.1 2016 2020 6.7 0.1 2030 65+ 85+ 9.1 0.1
2040 100+
0.2 2050 2060 0.6 18.6 19.0 19.0 Projected Population in Millions Among Older Than 65 94.7 80.8 85.7
71% Female
are age 75-84
are age 85+ 30%
52% $4,576 $4,300
Note: The official population estimates for the United States are shown for 2016; the projections use the Vintage 2016 population estimate for July 1, 2016, as the base population for projecting from 2017 to 2060. From U.S. Census report “Demographic Turning Points for the United States: Population Projections for 2020 to 2060” Source: U.S. Census Bureau, 2017 National Population Projections.
JANUARY/FEBRUARY 2022
ARGENTUM.ORG 19
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