How do we cope with the costs of eldercare? Published by Jane the Actuary View all posts by Jane the Actuary
10 thoughts on “Forbes post, “On Eldercare, The Math Is Unforgiving””
Thanks Jane for bringing into stark view what those of us in the industry have been worried about for a long time. This, for nearly all western, developed countries (and certainly China and most of Asia) is a challenge of unprecedented proportions. We will all need to work together for solutions.
Costs is undeniably the driver of any long-term care discussion, for governments and households alike. The conversation starts with “what do we need”, but wraps up with “what can we afford”. While we’re never going to get away from this entirely, the quality of care delivered MUST become an integral part of the cost conversation cause only then can we start talking about what really matters – VALUE.
What are we buying? Is it what we really need or want? What is so outdated as to be useless? Where is there real opportunity?
So much of long-term care could be improved without additional costs and regulations. But, it’s gonna take removing the politics and special interests, reintroducing practicality, and be willing to blend old and new.
It’s like the trajectory of electric cars. Years back it was only gas guzzlers. Now, we don’t have 100% of electrics on the road, but we have a substantial number of hybrids. And everybody’s happier – manufacturers, consumers, and the planet.
Long-term care needs some hybrid solutions that blend cost and quality and yield value.
The reason whyThe elderly is not getting the care they need because The agencies don’t want to pay the workers they want to keep all the money for them self I’ve been a caregiver over 30 years .Every Agency I work for they don’t want you to work over 40 hours unless you doing a fill-in they don’t offer good insurance some agencies don’t want to pay time and a half for the holidays I think caregivers should start off being paid at $15 an hour for all the things they have to go through with taking care of their clients the agencies just sit back and collect the money and work The workers for kibbles and bits
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