Seniors may be seeking many more options when it comes to where they will live in retirement as many shy away from the institutional care model of the past, writes Investopedia.
A 2007 study commissioned by Clarity and The EAR Foundation found older Americans fear nursing homes more than they fear death, and this sentiment has been a large driver of choice when it comes to senior housing and care options, writes Investopedia.
The nation’s 90-and-older population has nearly tripled over the past three decades to roughly 1.9 million in 2010. This number is expected to quadruple over the next four decades.
Elderly people need different levels of care, and therefore require different facilities. The market is opening up for seniors and their families looking for options beyond nursing homes.
As the geriatric population of the country increases, there will be a proportionate increase in the diversity of facilities offered to senior citizens. This increase in the senior population also means senior citizens will become more vocal in the kinds of facilities they would like to use in their twilight years.
The article names home care, holistic care programs (such as PACE), subsidized housing care provided through the Department of Housing and Urban Development, assisted living, board and care homes, and continuing care retirement communities (CCRCs) as viable alternatives to nursing homes.
View the full piece here.
Written by Alyssa Gerace
