According to a recent study, 90 percent of seniors over age 65 would prefer to stay at home rather than move into a nursing home. These days aging in place statistics are on the rise. It’s more doable than it has been in the past so more seniors are considering aging in place a real possibility.
An Abundance of Seniors
The United States has seen unprecedented population growth among adults aged 65 and older. Studies show that Americans ages 65 and older will double from 52 million in 2018 to 95 million by 2060. The group’s share of the total population will rise from 16 percent to 23 percent.
Overcrowding of nursing homes will be a significant problem in the future. Along with overcrowding, there are many other reasons people are choosing to invest in home modifications rather than relying on nursing homes.
Rising Cost of Nursing Homes and Assisted Living Facilities
One of the many reasons people choose their loved ones to age-in-place is that nursing homes and assisted living facilities are expensive. The general cost of a semi-private room in most nursing homes in 2016 was $6,844 a month.
According to the U.S. Census Bureau, the average household income in 2014 was $73,000. The cost of the semi-private rooms equals $82,000 a year. Usually, a senior is allowed to keep their home on Medicare.
However, if Medicare pays for any nursing home fees, they will put a lien on their home. You cannot sell the home until the lien is paid in full.
Medicare Pace Program
In some places Medicare Pace Program is available. The program can help cover the expenses of seniors aging in place if a nurse or caretaker is needed. To receive this aid, a doctor must declare the senior as homebound, according to Medicare definitions.
If they do not meet the qualifications, hiring a caretaker from a health aid service company can be cheaper. Health aide services average around $20.50 an hour. For non-medical services, it runs about $20 an hour.
Injured Seniors Study
The risk of seniors falling is huge. With home modifications, a senior living at home could save millions of dollars in hospital fees. Researchers Michael Eriksen and Gary Engelhardt found that 3 million Americans ages 65 and older are treated for falls annually, causing 800,000 hospitalizations.
They found that the falls resulted in 300,000 hip fractures. The hospitalization cost is about $33,000 per stay. The annual cost is about $55 billion (about $170 per person in the US.) The researchers suggest an inexpensive fix: in-home modifications reduce the incidence of falls by 50%.
Home Modifications at Next Day Access
Next Day Access has a variety of home modification solutions to help seniors age in place safely and comfortably. We offer an in-home consultation at no cost to you. With a list of recommendations on solutions, we can help make your home a safer place.
We also sell an assortment of other accessibility devices and mobility solutions. Contact us today to help you or your loved one age in place with peace of mind.