Cross Country Healthcare's Workforce Solutions Group is the nation's leading provider of Programs of All-Inclusive Care for the Elderly (PACE).

<p>By 2030, 21% of the American population will be at retirement age when more and more people are moving away from institutionalized care. <sup style="vertical-align: super; font-size: smaller;">1</sup> Assisted living facilities and nursing homes are not the only options. In a recent survey, 76% of those aged 50 and older said they preferred to remain in their current residence as they grow older. National spending on home health care reached a high of $113.5 billion in 2019, an increase of 40% from 2013, and jobs in home health care are expected to grow more than any job in the next decade.<sup style="vertical-align: super; font-size: smaller;">2</sup></p><p>Cross Country Workforce Solutions Group surveyed <sup style="vertical-align: super; font-size: smaller;">i</sup> 500 U.S. people to gauge how those aged 50 years, or more are preparing for the care they will need as they grow older. Our research explored what planning has been given to support senior care needs, awareness of available services, preferred services, how decisions get made, and what budgets they have for in-home care.</p><h2>Most People Have Considered Their Aged Care Needs, But with Little Action</h2><p>Overall, 66% of respondents have thought about their future care needs as they get older. However, not a lot of effort has been put into actively preparing for care. Only 9% are actively looking into it, and 34% have not given it a thought. While there is no meaningful difference by age group, those in their 60s are slightly more likely to think about or look for care.</p><p>Of the respondents who haven't thought about their care needs, most haven't because they believe themselves to be in good health (51%), they avoid thinking about it (30%), and they don't believe they can afford it (27%). Forty-two percent of the respondents in their 50s have not thought about it because they are still working, compared to 11% of respondents in their 60s and 4% of respondents in their 70s. Not surprisingly, respondents aged 60 to 79 with a net worth of $500,000-plus were less likely to have concerns about their health and care affordability.</p><h2>Remaining at Home is Preferred</h2><p>Most respondents said their preference is to remain at home with support (70%). In comparison, 51% would prefer to stay at home with no support, and 37% said they preferred to move into a transitional services' facility, such as a retirement community, based on their level of need. The remainder of the participants selected "something else" as a preferred option and frequently reported moving in with family.</p><h2>Budgeting for Care is Not a Priority Right Now</h2><p>Overall, 57% of respondents have not considered a budget for what they may need for aged care services and support, and 43% have. However, significantly fewer people in their 50s (28%) have given this consideration compared to the older respondents in their 60s (50%) and 70s (48%). Since only about one in 10 respondents (9%) is actively looking into care, it is not surprising that few have expanded that thinking to explore what budget they may need for care.</p><p>Regardless of age, respondents most likely think (33%) a monthly care budget of $1,000 to $2,499 is appropriate for their needs. Those in their 50s and 60s are more open to spending $500 to $999 a month (30% and 25%, respectively), while 25% of those in their 70s expect to pay $2,500 or more a month. For those aged 60 to 79 years, 36% of Caucasian respondents expect to spend $1,000 to $2,499 per month for care, while 32% of non-white respondents expect to spend less than $500 a month.</p><h2>The Timeline for Making a Change in Living Arrangements Decreases with Age</h2><p>The time horizon for making a change in living arrangements decreases with age. Three in five (59%) of the respondents in their 50s expect to make a change in 16 years or more, while 32% of respondents in their 70s expect to change within the next five years. Five percent of the total respondents said they never expect to make a change, including 16% of people in their 70s.</p><h2>Our Thinking</h2><p>We believe that keeping seniors at home for as long as possible is the best solution, rather than automatically transitioning into an assisted living facility or nursing home. These people deserve the autonomy to live comfortably at home, and health-related services should supplement their lives, not become their focal point.</p><p>Cross Country Workforce Solutions Group, a division of Cross Country Healthcare, is the nation's leading provider of Programs of All-Inclusive Care for the Elderly (PACE) clinical and non-clinical staffing and nonmedical, in-home care workers for the elderly. Our turnkey business model was developed in 2012 in partnership with PACE Executives and the Centers for Medicare and Medicaid Services (CMS) guidelines. We are doing our bit to help people age in place and believe this is the best choice when a choice is an option.</p><p><sup style="vertical-align: super; font-size: smaller;">i</sup> This national survey was conducted with 500 U.S. residents aged between 50 and 79 years who live in a home, condominium or apartment without paid in-home care. The online interviews were conducted from February 10 to March 2, 2022, by Bredin, an independent market research company located in Boston, MA, using a National Web Panel.</p><p> <sup style="vertical-align: super; font-size: smaller;">1.</sup> “Long Hours, Low Pay, Loneliness and a Booming Industry,” The New York Times, September 25, 2021.</p><p> <sup style="vertical-align: super; font-size: smaller;">2.</sup> <a href="https://www.npaonline.org/sites/default/files/PDFs/5033_pace_infographic_update_july2021.pdf" rel="noopener noreferrer" target="_blank">PACE by the Numbers</a></p>

The Choices and Challenges of In-Home Care for the Elderly