argentumaction

Designed to educate and engage those interested in senior living advocacy and policy issues.

[argentumaction @argentumaction]

Although most respondents said they expect to need $1.2 million saved before retiring, 46% said they realistically expect to have less than $500,000 in savings at retirement. Of those, 23% said that they will have less than $250,000 in retirement savings https://t.co/aS7QIRGCue

[argentumaction @argentumaction]

Those needing round-the-clock in-home care can expect a median cost of about $290,000, which is more than double the annual median cost of a private room in a skilled nursing facility and 4 times the annual median cost of a private room in #assistedliving

[argentumaction @argentumaction]

The cost of paid in-home care has soared in recent years. The 2023 national median cost of a home health aide, hired through an agency, stood at $33 an hour, up from $20 an hour in 2015 https://t.co/DN5AdtlXyB

[argentumaction @argentumaction]

Employment in healthcare grew by 55,000 in July 2024, which was nearly half of all jobs, 114,000, added across the economy. Nursing and residential care employment grew by 9,200, but overall employment remains 2.5% below its pre-pandemic peak in February, 2020

[argentumaction @argentumaction]

Year-over-year growth in national health spending in June was highest “by far” for home healthcare, at 20.9%, compared with other major healthcare categories. Nursing home care spending was a distant second, at 10 %.

[argentumaction @argentumaction]

Nursing home spending, at $231.3 billion, represented 5% of health spending in June, and home healthcare spending, at $165.8 billion, accounted for 3%, according to Altarum estimates.

[argentumaction @argentumaction]

The intergenerational senior living trend is evolving https://t.co/PAqLg57C5M

[argentumaction @argentumaction]

“Living in a senior living community has helped them live better lives, from daily contact with people to entertainment options, to having help at their fingertips for everything from finding a missing cell phone to finding a misplaced remote control.” https://t.co/F9jz23JEvx

[argentumaction @argentumaction]

21-80% have modest assets but would still be unable to afford more than two years of nursing home care or four years in an assisted living community. With a rapidly aging population, policymakers must address this #longtermcare affordability challenge

[argentumaction @argentumaction]

NCOA Report: 80% of people age 60 and over (47 million) do not have the financial resources to cover long-term care services or another financial shock; 20% of older households (approximately 11 million) have no assets to draw from https://t.co/8wdvoP0dhm

[argentumaction @argentumaction]

Aging in place topped the list of social threats to aging well at 69%. Among those who said they experienced stress and anxiety in the past year, 22% ranked aging in place as the top reason, while 45% ranked aging in place among their top three stressors https://t.co/MIRZyNXfS6

[argentumaction @argentumaction]

By some measures, Gen Xers are worse off financially than their baby boomer predecessors. The median household net worth of Gen Xers between 45 and 54 years old was about $250,000 in 2022, about 7% lower than that of baby boomers at the same age in 2007 https://t.co/Vr4XaoLg0s

[argentumaction @argentumaction]

The FTC can still appeal the decision to the 5th US Circuit Court of Appeals in New Orleans

[argentumaction @argentumaction]

A federal judge has ruled the FTC can’t enforce its near-total ban on noncompete agreements because the agency lacked the authority to enact the rule, writing that the rule is “unreasonably overbroad without a reasonable explanation”
https://t.co/1L1VtZ5mVx

[argentumaction @argentumaction]

“Our long-term care #workforce has still not recovered from the pandemic, and we continue to see large numbers of open positions, so more tools to recruit and retain workers will hopefully help our workforce recovery.” https://t.co/5ssvFF9DkL

[argentumaction @argentumaction]

Assisted living/personal care managers saw a 5.58% bump in salary in 2024, along with an average 13.5% bonus according to the latest Nursing Home Salary & Benefits Report, released by the Hospital Healthcare Compensation Service #workforce https://t.co/RXPSs3j7JH

[argentumaction @argentumaction]

The cost of assisted living, home care and nursing home care is the top health-related concern of older adults according to a new National Poll on Healthy Aging from the University of Michigan. Policymakers must act to address affordability challenges https://t.co/jn6BGBlFN1

[argentumaction @argentumaction]

A 65-year-old retiring in 2024 can expect to spend an average of $165,000 on healthcare and medical expenses during their retirement—a nearly 5% increase from a year ago and more than double the initial forecast in 2002 https://t.co/ZRUhvBUmbO

[argentumaction @argentumaction]

The Senate HELP Committee voted 20-1 to advance Older Americans Act Reauthorization legislation (S. 4776) with Argentum-supported provisions to address workforce shortages and expand multigenerational care models https://t.co/iXNcIPK137

[Tell Our Stories @TOSseniorcare]

Smith Village in Chicago celebrated their 100 year anniversary as a senior living community.

Residents gathered to fill up a time capsule, which will be lowered into the ground on August 12th and opened 50 years from now!

https://t.co/MTXIyOjO48