As baby boomers continue to retire en masse, many will ultimately require the help of caregivers, personal assistants and skilled nurses provided by senior care facilities. These individuals seeking care – our family and friends – need the extra effort and focus to help maintain their quality of life during their golden years.
Already, a sizeable portion of the country’s population resides in a senior care facility and experts only anticipate these numbers to continue increasing in the coming years. According to the most recent data from the Commission on Affordable Housing and Health Facility Needs for Seniors, an estimated 3.6 million individuals will be living in nursing facilities throughout the U.S. by 2020. In addition, roughly 3.3 million seniors will be receiving skilled home care, while approximately 1.5 million elderly people will be living in alternative residential care facilities.
This marks a stark increase from those who resided in these facilities in 2010, when 3.4 million, 2.7 million and 1.3 million, people, respectively lived in senior care homes.
With so many people expected to begin residing in these facilities, it’s important for brokers who partner with senior care establishments to ensure that these place have the coverages in place to protect the most vulnerable people.
Unfortunately, accidents can and will happen. When this occurs, senior care facilities must have the safeguards in place to guarantee operations continue unabated. From risks that range from deadly weapon/active shooters to problems with Medicare billings to cyber/data breach liability, it’s crucial for senior care facility to establish robust safeguards when the unexpected strikes.
Brokers who partner with McGowan Program Managers for the Senior Care Insurance obtain the means to offer specially tailored products that offer protections to a various classes, including skilled nursing, assisted living, dementia care and home health care services.