Baby Boomers and Assisted Living Insurance Programs

Assisted Living Insurance and Baby Boomers

The first Baby Boomers to hit 65 years old passed that milestone in 2011 and analysts are warning that this impending demographic shift could likely put a serious drain on the nation’s health resources. Seniors already tend to consume more health care than younger Americans, but Baby Boomers may tend to have more health issues, as well as live longer, than previous generations.

An assisted living facility may require even more health care under these circumstances. Owners may need even more assisted living insurance programs geared to deal with problems related to residents with serious health concerns and the potential issues that can arise regarding injuries and accidents.

Diet, lack of exercise contributes to poorer health and higher insurance costs

With the United States grappling with concerns over the growing rate of chronic diseases like obesity and diabetes, an aging population could soon signal a health care crisis, a report from the United Health Foundation finds. “This is a really important time in our nation’s history for us to take a look at this demographic change and the health and behavior outcomes for this population. If we don’t measure it, we won’t know what to do about it,” Rhonda Randall, one of United Health Foundation’s senior advisers, explained.

As alarming as it may sound, their report found that nearly 8 in 10 seniors are currently living with at least one chronic health condition. And many of those health issues stem from the nation’s ongoing struggle with obesity. About 25 percent of seniors are obese, 20 percent have diabetes, and more than 70 percent have heart disease.

Since obesity rates among those ages 50 to 64 increased 8 percent from 1995 to 2010, the next generation of seniors will likely experience even higher rates. This is a gleaming example of the poor food choices that many people opt to make. Treating those health issues for an aging population won’t come cheap, and we may even see additional exposures for those need to assisted living. With more seniors having weight issues, for example, we may see an increased in slips and falls and other potential exposures

Assisted living insurance programs are designed to protect facilities against liability including premises liability for slips and falls and other similar accidents. Talk to a specialty company that focuses on assisted living insurance to find out how much coverage is needed to properly protect your facility.