Aging Well Can Be Expensive

By SAM URETSKY

Ecclesiastes 3 was right. “There is a time for everything, and a season for every activity under the heavens:” The scriptures follow with a litany, “A time to be born, and a time to die; a time to plant, and a time to pluck up that which is planted …” These are the dictates of nature, “A time to weep, and a time to laugh; a time to mourn, and a time to dance …” In contrast to the eternal wisdom, there are human traits – a time to have avocado green kitchen appliances, a time when automobiles should have bud vases on the dashboard. In some parts of the country there is a time to move into an independent living facility whether you want to or not.

According to the United States of Aging Survey, conducted in 2012:

• Approximately 90% of seniors intend to continue living in their current homes for the next five to 10 years

• Of these individuals, 85% are confident in their abilities to do so without making significant modifications to their homes

Clearly the ability to continue living in the same home varies with both the architecture and the condition of the resident. The survey also reported:

• Although 65% of seniors between the ages of 60 and 70 find it very easy to live independently, among those aged 70 and older, only 43% find it very easy

• Nearly two in 10 Americans aged 70 and older say they either can’t live independently and accomplish daily tasks without assistance from caregivers or community resources or find it difficult to do so.

The 70 to 80 population may be over represented in current senior residences, but it’s persons over the age of 85 who represent the fastest ???

The aging of the Baby Boomer generation has led to a significant rate of growth in the senior housing industry, although published estimates of growth range from around 3% to 6% per year. The web site Assisted Living Locators offers a major opportunity: “While non-medical home health agencies are scrambling to find caregivers, you will be helping seniors move out of their homes to find the care that they deserve.”

The trouble is, many seniors don’t want to move out of their homes. It’s one thing for a person who requires specialized health care to be moved to a skilled nursing facility, but too many people seem to be pushed into some form of senior residence for no reason other than their numerical age, when they can remain comfortably in their own home. While the industry offers brochures showing happy couples enjoying the comforts of their golden years, many seniors find that so-called independent living is no bargain, either financially or emotionally. One woman, after her first game of Bingo, said tragically, “this is the rest of my life!” Another senior housing resident said “I call it Purgatory.”

What is significant is that people don’t want to leave the homes they’ve occupied for decades, and, the costs of maintaining a resident in assisted living averages $6,700 a month, much of it paid through Medicaid. That means that letting people age in place is a win-win situation.

If the elderly can be kept in their homes, even if only for months, significant savings can be achieved. In Baltimore a group called Community Aging in Place, Advancing Better Living for Elders (CAPABLE ) has been conducting a study, sending a handyman and an occupational therapist to the homes of low income elderly, with a budget of $4,000 can make life easier for the elderly.

On Oct. 13, the New York Times published an Op-Ed “The New American Dream Home Is One You Never Have to Leave: Forget the game room and formal dining. You need space for aging parents and Airbnb guests.”

The article described a home which included a separate, self-contained apartment which might be used for a variety of things, perhaps rented for Airbnb, or for children back from college, but also for elderly parents. A family might live in the main house, while the elderly parents might move to the small apartment. The family might rotate for generation after generation and never leave home. It may be the home of the future.

Sam Uretsky is a writer and pharmacist living in Louisville, Ky. Email sdu01@outlook.com

From The Progressive Populist, November 15, 2018


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