In 2011, more than 8,000 people will turn 65 every day. By the end of that year the senior population of America will reach almost 49 million. By 2025, it will grow to nearly 72 million. (Source: The Department of Health and Human Services and the State Department)
The U.S. Census Bureau projects that the population age 85 and over could grow from 5.3 million in 2006 to nearly 21 million by 2050. The number of senior Virginians age 85 and older will increase dramatically, with a projected growth rate 5 times faster than the state’s total population rate. This age group is also the most likely to need aging-related care and services. (Source: “Revisions to the 2000 Census based on Count Question Resolution (CQR) Program” by the Virginia employment Commission.
Persons reaching age 65 have an average life expectancy of an additional 19.0 years (20.3 years for females and 17.4 years for males). (Source: Administration on Aging)
Several studies have found that the overwhelming majority of seniors – 89 percent, according to an AARP survey, for example – want to age in their own homes for as long as possible.
When compared to the costs associated with a retirement community, private duty home care can be a very affordable option for many seniors. The average annual cost of one nursing home resident is $69,715. The average annual cost of one assisted living facility resident is $36,372. (Source: MetLife Market Survey of Nursing Home & Assisted Living Costs)
Seniors who want to remain in their homes can often do so cost effectively with a few hours of care a week. For example, 20 hours of companionship home care a week costs approximately $1,500 a month. (Hourly Rate Based On NPDA State of Caregiving Industry Survey)
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