New trends that will impact long-term care planning

All adults should spend some time learning about and planning for the need for long-term care. This is a field that continually evolves, so it is important to stay abreast of changes.

While the costs for assisted and independent facilities as well as for nursing homes continue to rise, companies and others look for better ways to care for seniors.

The latest trends

Paycor reports that staffing shortages continue to plague long-term care facilities at all levels. As the population of seniors rises, facilities will need more workers to care for these individuals. The main carrot for recruiting talent is to raise salaries and benefits, which will likely cause the cost of care to rise. Other trends include the following:

• Creating a healthy work environment
• Increasing the opportunity for home care
• Focusing on more personal care
• Embracing new technology

As the landscape changes, so must a person’s long-term care plan. Options such as staying longer at home, relying on hospice services, or looking into Medicaid waivers could become powerful strategies in the future.

The upcoming challenges

An article in MarketWatch covers some of the difficult challenges facing seniors in the coming years. At the top of the concerns is of course costs. Even long-term care insurance is harder to come by, with many insurers pulling out of the market.

Some families sacrifice by leaving jobs to help take care of an older parent. This results in reduced income as well as taking a toll on the well-being of the caregivers. Some government solutions both at the state and the federal level could be on the horizon, but these are far from certain. A long-term care plan remains essential for nearly everyone.