All responses must refer to class materials. Use only the APA method for in text citations and include a reference list 1 Based on 75 Must Know Statistics About Long-Term Care ,discuss four conclusion

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All responses must refer to class materials. Use only the APA method for in text citations and include a reference list

1 Based on 75 Must Know Statistics About Long-Term Care ,discuss four conclusions you can come to for the problems that the long-term care industry will face in the coming decade.  You must include statistics from the article.

2 Based on, The Age-Old Dilemma what is the main issue the author is addressing? How is it manifesting itself and where? (Be specific.)

All responses must refer to class materials. Use only the APA method for in text citations and include a reference list 1 Based on 75 Must Know Statistics About Long-Term Care ,discuss four conclusion
75 Must-Know Statistics About Long-Term Care Christine Benz 31 Aug 2017 In my years of speaking to groups of retirees and pre-retirees, I’ve learned that there are a handful of topics that will send an event completely out of my control. One is the long-term viability of Social Security; I don’t go there, but it sometimes comes up as a question. The other hot-button topic–and one that I do touch on in my talks because it has the potential to make or break a retirement plan–is long-term care. People have lots of questions about long-term care: Is the insurance worth it, given how insurers have been jacking up premiums? If you’re going to raid your own coffers to pay for long-term when and if you need it, how much money do you need to have saved? And people have plenty of experiences to share, too–horror stories of insurers haggling over claims and foisting premium increases on seniors living on fixed incomes, as well as more positive tales of parents’ long-term care policies that paid for themselves many times over. The most frustrating part of long-term care decision-making is that the long-term landscape is changing so quickly. Given their difficult claims experiences, many insurers are throwing in the towel on this market altogether. Soaring premiums have also contributed to the confusion about whether the products are worth it–even if you can find one that’s affordable at the outset. Unfortunately, the “right” answer to the vexing long-term care question is pretty individual-specific, and depends on the individual’s level of wealth, age, desire to leave a bequest, and need for peace of mind, among other factors. To help ensure that your decision-making is based on the numbers as much as it possibly can be, I’ve compiled 75 statistics related to long-term care. I’ve also linked through to the source material if you’d like to investigate further. (The wealth of information on long-term care–as well as the often-heroic caregivers who provide it–are bright spots in an often dismal story.) Usage of Long-Term Care6.3 million: The number of Americans who have a high long-term care need because they need help with two or more activities of daily living or are experiencing cognitive decline. 15 million: The number of Americans expected to have a high long-term care need by 2050. 52.3%: The expected percentage of people turning 65 who will have a long-term care need during their lifetimes.  47.7%: The expected percentage of people turning 65 who will have no long-term care need during their lifetimes. 46.7%: The expected percentage of men turning 65 who will have a long-term care need during their lifetimes.  57.5%: The expected percentage of women turning 65 who will have a long-term care need during their lifetimes.  22%: Percentage of individuals over 65 in the highest income quintile who will have a long-term care need of two years or longer.  31%: Percentage of individuals over 65 in the lowest income quintile who will have a long-term care need of two years or longer.  10%: Percentage of Americans over age 65 who have Alzheimer’s dementia.  38%: Percentage of Americans over age 85 who have Alzheimer’s dementia.  35%: Projected increase in number of people with Alzheimer’s dementia between 2017 and 2030.  110%: Projected increase in number of new Alzheimer’s cases between 2010 and 2050, barring the development of a new treatment to prevent or cure Alzheimer’s disease.  2 years: Average number of years that individuals age 65 and older will have a high long-term care need during their lifetimes. 0.88 years: Average duration of nursing-home stay for men.  1.44 years: Average duration of nursing-home stay for women.  22%: Probability of needing more than one year in a nursing home, men. 36%: Probability of needing more than one year in a nursing home, women. 2%: Probability of needing more than five years in a nursing home, men. 7%: Probability of needing more than five years in a nursing home, women. Paying for Care$30 billion: Long-term care expenditures in U.S., 1980.  $225 billion: Long-term care expenditures in U.S., 2015. 57.5%: Percentage of individuals turning 65 between 2015 and 2019 who will spend less than $25,000 on long-term care during their lifetimes. 15.2%: Percentage of individuals turning 65 between 2015 and 2019 who will spend more than $250,000 on long-term care during their lifetimes. $217,820: Estimated end-of-life care costs in patient’s final five years for individuals without dementia.  $341,651: Estimated end-of-life care costs in patient’s final five years for individuals with dementia.  $17,680: Median annual cost for adult day care (five days/week), 2016. $43,539: Median annual cost for assisted-living facility, 2016. $82,125: Median annual nursing-home cost, semiprivate room, 2016. $92,378: Median annual nursing-home cost, private room, 2016. $164,250: Average annual nursing-home cost, private room, Manhattan, 2016. $63,875: Average annual nursing-home cost, private room, Monroe, Louisiana, 2016. $22,887: Median annual income from all sources for individuals who are 65 or older. $38,515: Median annual income for households headed by people 65 or older. 3.5%: Five-year annual inflation rate in nursing-home costs, private room, 2016. 21.9%: Percentage of long-term care costs that are paid out of pocket, 2013. 13.2%: Percentage of people who receive professional home healthcare who have long-term care insurance coverage, 2010. $5,518: Median total household wealth for people who have lived in a nursing home for six months or more. $0: Median household wealth for people who have lived in a nursing home for six years or more. Caregiving37 billion hours: The annual amount of long-term care provided by unpaid caregivers, 2013. $470 billion: The dollar value of long-term care provided by unpaid caregivers, 2013.  $3 trillion: Estimated lost lifetime wages due to unpaid caregiving responsibilities. 83%: Percentage of help provided to older adults that is delivered by friends or family members.  46%: Percentage of all caregivers who provide help to someone with Alzheimer’s or dementia. $230.1 billion: Value of assistance provided by unpaid caregivers to people with Alzheimer’s or dementia, 2016. 65%: The percentage of older adults with long-term care needs who rely exclusively on friends and family members to provide that assistance. More than 75%: Percentage of caregivers who are women.  63: Average age of caregivers for people who are 65 and older.  70%: The percentage of caregivers who suffered work-related difficulties due to their caregiving duties. $15,000: The average amount of income that caregivers will lose due to time demands of providing care to those with Alzheimer’s or other dementias. State and Federal Funding62.3%: Percentage of long-term care services and supports that are provided through Medicaid. 20%: Percentage of Medicaid funding that went to pay long-term care costs in 2016.  $120,900: Maximum amount of assets that a healthy spouse can retain for the other spouse to be eligible for long-term care benefits provided by Medicaid, 2017. (Actual amounts vary by state.)  100: Days of care in a skilled nursing facility (“rehab”) covered in full or in part by Medicare following a qualifying hospital stay. Long-Term Care Insurance125: Number of insurers offering standalone long-term care policies, 2000.  Less than 15: Number of insurers offering standalone long-term care policies, 2014.  380,000: Number of individual long-term care insurance policies sold, 1990. 129,000: Number of individual long-term care insurance policies sold, 2014.  72,736: Number of hybrid life/long-term care policies sold to individuals, 2009. 305,068: Number of hybrid life/long-term care policies sold to individuals, 2013. 4.50 million: Number of individuals with long-term care insurance coverage, 2000.  7.25 million: Number of individuals with long-term care insurance coverage, 2014.  $1.98 trillion: Maximum potential benefit of all long-term care policies in force today. $1.87 billion: Annual claims on long-term care insurance policies, 2000. $8.73 billion: Annual claims on long-term care insurance policies, 2014. 99%: Percentage of new long-term care policies that cover nursing home and in-home care, 2014. 37%: Percentage of new long-term care policies that cover nursing home and in-home care, 2000. $2,772: Average annual premium, long-term care policies being sold, 2014. $1,677: Average annual premium, long-term care policies being sold, 2000. 0.5%: Percentage of all businesses offering long-term care insurance to their employees. 20%: Percentage of businesses with 10 or more employees offering long-term care insurance to their employees.  $52,000: Amount that a person buying the average long-term care policy at age 60 would have paid in premiums by age 82. $547,000: Amount of total benefits available at age 82 for a person who purchased a typical policy at age 60. 19.6%: Increase in short-term care insurance sales in 2015 relative to 2014. (Short-term care insurance policies cover periods of one year or less.) 17%: Percentage of applicants ages 50-59 denied long-term care coverage due to health issues.  45%: Percentage of applicants ages 70-79 denied long-term care insurance due to health issues. 
All responses must refer to class materials. Use only the APA method for in text citations and include a reference list 1 Based on 75 Must Know Statistics About Long-Term Care ,discuss four conclusion
The Age-Old Dilemma An aging population brings greater demand for long-term care services, but funding isn’t always to be found. By Deidre McPhillips, Data Editor | Dec. 27, 2016, at 9:00 a.m. Bobbie Preddy’s mother ran out of money years ago. She’s 98 years old and if she lives longer than six more months, Preddy might be out of cash, too. Preddy’s mother requires round-the-clock care, due to frequent urinary tract infections and related conditions. Together, Preddy and her mother determined the only way she could get the support and care she needed was at an assisted-living facility. But costs for even one of the cheapest facilities in the market are hundreds of dollars more than Preddy’s mother can afford with her pension checks each month. “I’m going to run out of money and my mother might still be alive,” she says. “And I don’t see anything, anywhere that can help that.” Preddy’s dilemma is not uncommon. Her mother is one of more than 8 million individuals in the U.S. that require support from long-term care services, according to the Centers for Disease Control and Prevention, the great majority of whom are more than 65 years old. Family Caregiver Alliance, a nonprofit support organization for caregivers, lists at least 10 different options for living arrangements, each with varying degrees of provided care, independence and cost. According to the insurance company Genworth, the average annual cost for a private room in a nursing home in the U.S. is more than $90,000, and a year in an assisted-living facility is more than $40,000, expenses that are not always covered by public insurance programs. Globally, the number of older persons is growing faster than any other age group. In 2015, one in eight people was more than 60 years old, according to the United Nations. By 2030, they project an increase to one in six people, or 1.4 billion individuals over the age of 60. When it comes to aging, experts say the greatest challenge our world currently faces – more than pensions or birth rates – is planning for and financing long-term care. Long-term care is like an “exploding bubble,” says Randall Ellis, a professor at Boston University whose research is focused on health economics. “It’s the largest uninsured risk for the aging population.” In the U.S., when people face the dilemma that Preddy does with her mother – once houses have been sold, a lifetime of savings has been depleted and health conditions have reached the point that in-home care is not an option – others may rely on Medicaid to cover costs. In 1965, Medicare and Medicaid became the first public health insurance programs in the U.S. when they were signed into law by President Lyndon Johnson. Medicare was intended for individuals over 65 years old and those with end-stage renal disease, or kidney failure. Medicaid was intended to cover low-income individuals. But as of fiscal year 2014, long-term care services accounted for about a third of Medicaid spending, or $152 billion. Preddy’s mother is well beyond 65 years old and, with an annual income of about $17,000, would be considered low-income by many. Her pension is far from enough to pay for her long-term care, but it is enough to disqualify her for both public health insurance programs and leave her family scrounging for funds. “There’s an extreme bias in the allocation of resources away from older people to other groups,” says Peter Lloyd-Sherlock, a professor of social policy and development at the University of East Anglia in the U.K. whose research focuses on the social protection of older people in developing countries. Costs associated with long-term care – financial and otherwise – are inevitable, he says, and the systems created to distribute those costs exemplify the values of that society. Taking care of an individual at home will always be less expensive than bringing him or her to a nursing home or assisted-living facility, says Terry Hokenstad, a professor of global health at Case Western Reserve University. Policies and programs that support informal caregivers like family members, he said, make it easier to keep older adults at home and out of long-term care In a number of European countries, pension funds are used to compensate unpaid caregivers. Denmark and the Netherlands automatically cover time spent outside the labor force due to caregiving, while Germany and Norway reward caregivers with additional credits to their own pensions. “Say an older person has a stroke and goes into the hospital,” Hokenstad says. “The first thing we (Americans) think is to get them to a nursing home. The first thing they think in the Nordics is how they can get back into their own home and what sort of improvements are needed to make it happen.” But Naoki Ikegami, former president of the Japan Society of Healthcare Administration and the Japan Health Economics Association, warns against a reliance on informal care for older adults. A long-term care industry has a public responsibility and legal obligation to provide appropriate care, he said, but it’s difficult to monitor whether family members are actually caring or not. Instead, restricting the “medicalization” of long-term care – maintaining a separation between health care spending and activities and those related to long-term care – can keep expenses down. “Health care can always be interpreted as a life or death situation,” he says. “In health care, we give doctors a blank check to do whatever the patient needs. But with long-term care, we can rely on a more objective way of measuring need.” In 2000, Japan developed a universal insurance program for long-term care in response to public outcry against growing problems of neglect. Funded by tax revenues and higher premiums for those over 40 years old, out-of-pocket costs for long-term care services are limited to a 10 percent co-payment. A revision this year raised that rate to 20 percent for those with above average income. Ultimately, national and global debates on long-term care come down to whether the responsibility to look after our growing elderly population should be a public or private one. Like Japan and Denmark, most developed countries have favored strong, publicly funded social safety nets. For Josh Wiener, former director of the Aging, Disability, and Long-Term Care program for the non-profit research organization RTI International, creating a successful system is a matter of finding the political will to make long-term care a policy priority. “Long-term care is higher on the political agenda mostly everywhere else than it is in the U.S.,” he said. “Germany established a long-term care insurance program at a time when they were dealing with the unification of the East and the West. They recognized a need and they went ahead and did it.” The same happened in Japan, where policy makers saw they had an aging population and agreed to address it. But the U.S., he said, tends to avoid the conversation. For a while, private insurance plans that allow individuals to protect a greater share of their assets dominated the long-term care coverage discussion in the U.S. But the number of providers for these private plans has decreased dramatically in recent years. A voluntary public insurance program almost made its way into President Barack Obama’s health care reform plans in 2011. But the Community Living Assistance Services and Supports program, or CLASS Act, was quashed for fear of adverse selection, or attracting a disproportionate number of high-cost users, that would drive up premiums and because it couldn’t prove to be debt-free for at least 75 years as the law requires. Bobbie Preddy and her mother share a caring and trusting relationship; they’re “simpatico,” she says. Preddy doesn’t hope for her mother to die, but she does hope that supporting her mother doesn’t have to cut too much into her own retirement savings.

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