RestAssured - Facts and Figures

Facts and Figures

It is imperative that we consider our ability to care for our elderly long term. Let us take a look at what is happening in the United States. Nursing facilities for the elderly are full; funds for their care are questionable.

Not only are nursing homes full (with a waiting list) but federal funding is on shaky ground. Statistics tell us that there are approximately 1.8 million individuals in nursing homes. (There are no existing numbers for those seniors living in assisted living facilities.) A large percentage of residents living in nursing homes are funded by the federal government through the Medicaid program. Life as we know it now would change drastically if Medicaid no longer became available.

Baby Boomers and More

Just how many people does/could caregiving potentially affect? According to national polls and statistics, caregiving could affect millions in the United States alone. This includes those seniors who are presently in nursing homes and assisted living facilities and/or any variation thereof. The number of physically disabled and mentally challenged in the United States increases that number to even greater proportions. Finally, let us consider the large number of people in the United States who have been diagnosed with a chronic illness and/or disability forcing them in to early retirement. With these thoughts in mind, it causes one to wonder how long our government can survive these staggering numbers.

The next generation in the United States who is quickly heading in to retirement is the Baby Boomer generation. Keep in mind that many Baby Boomers still have parents who have not yet entered nursing facilities. They are seniors who are living longer, staying in their homes longer, and who will be living on Social Security benefits longer. A significant number of Baby Boomers and their aging parents will be looking to federal programs (Social Security, Medicare, and Medicaid) to provide for them during their retirement years. The question we must ask is: will funds be available to provide for them?

Let us take a closer look at the Baby Boomer generation. Here are a few significant facts and statistics; the following information may be difficult to grasp:

78 million people were born between 1946 and 1964 which is defined as the Baby Boomer era (U.S. Census)
The first Baby Boomer turned 65 on January 1, 2011 (U.S. Census)
Baby Boomers presently make up 28% of the American population (U.S. Census)
As of 2011, 50 is the largest age group in the United States (U.S. Census)
By 2015, those aged 50 and older will represent 45% of the U.S. population (AARP)
Beginning January 1, 2011 more than 10,000 Baby Boomers a day will turn 65, a pattern that will continue for the next 19 years (U.S. Census)
Of the 72 million family households in the U.S., 34 million of them are Baby Boomer households (MetLife Mature Market Institute)

It is clear that the Medicare program, Medicaid, and Social Security are at a critical stage; they are at the crossroads. Will it be the Baby Boomer generation who will push Medicare, Medicaid, and Social Security to a breaking point or, will it happen sooner? And, if it does, what will happen to caring for the elderly and disabled as we know it today?