The coming storm in caregiving

In 1930, the average life expectancy in the US was 59 1/2.  Today, it’s about 81 for women and about 76 for men.  The fastest-growing part of the population today is the oldest old, those over 100.  They say that the person who will live up to 120 has already been born.  That is at once, both exciting and daunting.

An AARP study said that in 2010 there were seven potential caregivers for adults older than 80.  But by 2050, that ratio may drop to 3 to 1.

Unpaid family caregiving was valued at $450 billion a year by AARPs Public Policy Institute in 2009.  That is more than federal and state Medicaid budgets combined.  To help family caregivers, legislation was introduced in Congress late last year that would guarantee up to 12 weeks of paid family and medical leave annually that would provide partial wage replacement for working caregivers.  The past three to five years has shown that businesses are recognizing the need to help employees who are also caregivers.

We talk about a pain scale in the medical community, one through 10.  What about a scale for financial pain?  There are ways to find cash, including reviewing life insurance policies, annuities, ability to qualify for assistance through Medicaid.  Tax planning is a biggie.  A lot of expenses can be tax deductible.

If a caretaker is named as a trustee on a trust, he or she can often step in and make decisions about the financial assets without taking title to those assets.  So it can be an important mechanism to have in place.


About Cleansing Water, Inc.

Cleansing Water, Inc. is a Warrenton, Virginia home health care agency offering professional geriatric care and serving seniors, individuals recovering from surgery, individuals with long-term disabilities, and other clients throughout Fauquier, Culpeper, Gainesville, Haymarket, Middleburg, Prince William, Rappahannock and other Piedmont Virginia communities. We provide in-home companions, certified nursing assistants, and geriatric care managers to assist with the tasks of daily living, monitor health and medications, and ensure clients are well cared for, physically, mentally, emotionally and spiritually.

For more information about Cleansing Water’s short-term and long-term home health care services, Call (540) 341-0212 or our toll-free number, (866) 294-4665, to schedule a consultation and discuss your geriatric care and home health care options. You can also visit for more information.