The numbers are staggering: the number 65+ of adults will more than double to 88 million in the next 35 years; 19 million of that 88 million will be 85+; the average annual cost of a nursing home room in the U.S. in 2012 was $81,030; and the average annual cost of a private room in an assisted living facility was $42,600.
So what’s the solution? There’s no easy answer to that question. However, a recent report from the Center for Housing Policy provides an overview of various models of home- and community-based supportive service programs that are currently in place across the country.
These models, while all different in design, share the same core: linking seniors with the supportive services that they need. Each tailored to the characteristics of the neighborhoods and the specific needs of the seniors in their respective communities, these models provide crucial aging in place services to the seniors who need them.
Funding these models, however, continues to be a major constraint. These initiatives are funded predominantly by community programs, philanthropic donations, and government grants, all sources that tend to dry up during difficult economic times.
However, the report stresses the importance of carefully tracking and evaluating initiatives like these. Replicating these models on a larger scale and gathering data on their success could demonstrate the benefits of these programs and the ways that these programs can potentially offset the costs of family finances, healthcare, and housing.
To read the full report, click here.