Will Assisted Living Facilities Become the Next Dinosaur?

I’m concerned about what will happen when the aging population runs out of money to pay for these expensive assisted living homes. At between $ 50,000 and $90,000 per year, who will be able to live there long? Our elders were a little more prepared but I don’t believe that the baby boomer generation has prepared themselves well enough to be able to cover even a year of living there. And now that many boomers are upside down on their mortgages, selling their home won’t help to pay for that care. Not many of us have long term care insurance either. (And in reality, how can long term care insurance continue to exist when almost ALL of us will need it at some point?) Author, Shelley Webb, Eldercare Support group 1/12/2010

Shelley,

Good article and right on the money. We may see assisted living facilities go through a tough time when the Boomer generation runs out of money. – Which could possible happen. The family unit has got to become the main sustaining channel through which our seniors get the care they need. The Hispanics do it well. It’s part of their culture and used to be part of ours. I think we will see a surge in the medical alert industry due to the lack of funds available for round the clock care for seniors. Having a home medical alert is certainly no substitute for proper medical care but it can help seniors retain their independence for at least a few extra months or years.

John
MedFirstAlert.com

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