This statement is based on a new study that uses new assumptions:

1.  New probability for nursing home care (per the Georgetown University Long-Term Care Financial Project, nursing homes account for less than 20% of care), and

2.  New durations for long term care (the previous studies assumed 316 days of care when the new study used 3050 days, or five years).

Multi-million dollar event for your family…what happens if you don’t have the multi-million?  Most likely you won’t get the type of care you want or maybe need…something to think about.

“Beacon Hill Village helps persons age 50 and older who live on Beacon Hill and in its adjacent neighborhoods enjoy safer, healthier and more independent lives in their own homes–well connected to a familiar and attentive community.”  They have social and cultural events, seminars and classes, along with health and wellness programs.  Their offered services include home repairs, errands, cleaning, transportation to appointments or the airport, and an extensive Concierge Service.

While not on the scale of The Ivey, the membership can still be cost prohibitive at $580 per person and $850 per household, which is why they have a “moderate means” alternative.

MatherLIfeWays is another leap in senior adult day centers.  They’ve “spent more than 60 years learning about how to make the adventure of aging better…[they] enhance the lives of older adults by creating Ways to Age Well.”

Since 1941 they have been “dedicated to providing a continuum of living and care; making neighborhoods better places for older adults to live, work, learn, contribute, and play; and identifying, implementing, and sharing progressive practices for wellness, workforce issues, memory care support, and empowering caregivers.”

They do have residences and their Institute on Aging, but their Cafes are the hub of their adult day center.  While not quite on the same level as Beacon Hill and The Ivey in regards to health and wellness services, Mathers Cafes have a large calendar of events and classes and their cafes become a social center for seniors in the area.

Does anyone else have a Senior Center or Adult Day Care facility that they would like everyone to know about?

Luxurious is the word to describe it – the exterior is reminiscent of a mountain lodge and the facilities are retreat-like.  They include things like a great room with gaming and “socially supportive dining areas”, juice bar, nap rooms, bathing rooms, spa setting for massages, nail and hair salon, kitchen with gourmet meals, physical therapy room, and a resource library.

In a recent article in the Charlotte Observer, described it as the “county’s only adult day care marketing solely to private-pay customers, it’s designed to appeal to residents in affluent southeast Charlotte.”  There is a joining fee of $2,500 followed by $150-$180 per DAY.  Long term care insurance can be used in some circumstances to help defray this cost.

While the trend is for an increasing need and demand for adult day care facilities, many adult day care facilities are struggling to keep their slots filled right now.  Since the Ivey is more upscale (and considerably more expensive) it will be interesting to see if the Boomers will be willing to spend their nest egg on the good life.

Adult Day Care is increasingly becoming an alternative for the Sandwich Generation who aren’t ready to have their parents in a nursing or retirement home, but don’t have the resources to stay home with them.  Day Care supporters also allude that it is a better alternative because it is safer and more varied in activities.

Currently, Adult Day Care is said to serve more than 400,000 seniors.  Not all attend daily, but that number is expected to grow between 5% and 15% a year according to the WSJ article.  With costs averaging $61 per day (approximately $42 per day more than an in-home health care professional) this isn’t a cheap long term care option which is why more and more insurers are looking at this as an opportunity.

Last year, MetLife began to include adult day care in its annual report.  The WSJ article quotes Kathy O’Brien with MetLife as saying that this type of care “is becoming increasingly recognized within the long-term care community for the array of services available.”

I was interested in learning more about the Adult Day Care industry and found the National Adult Day Services Association.  They are a pretty good resource and have been around for more than 20 years.  The National Adult Day Services Association touts themselves as “the leading voice of the rapidly growing adult day services (ADS) industry and the national focal point for ADS providers.”

I wonder: is this the wave of change for LTC which will eventually drive costs down and become increasingly recognized by insurers and government or will it go back to a luxury for only those who can afford it?