More older adults, those with a chronic condition, and those with a disability will lead to an increase in demand for care.
Unfortunately the price of that care will increase with healthcare related spending projected to increase.
These increases are in addition to service provider’s challenges hiring new care providers and building new care facilities.
Direct Care Workers
The Bureau of Labor Statistics estimates that an additional 1.1 million direct care workers will be required by 2024, a 26% increase from 2014.
Direct care works include personal care aides, home health aides and nursing assistants.
While the numbers of those who tend to fill these jobs, overwhelmingly women age 25 to 64, will increase at a much slower rate.
The American Association of Colleges of Nursing is reporting that "over the next 20 years, the average age of RNs will increase and the workforce will plateau as RNs retire."
This is precisely why the Bureau of Health Professions projected back in 2005 that the nursing shortage will worsen, and this nation may ultimately see a shortfall of 800,000 nurses by 2020.
Assisted Care Facilities
According to the Department of Health and Human Services, of the 76 million baby boomers who are heading toward retirement, roughly 70 percent (about 54 million people) will need some form of long-term care, with close to 13 million of those needing a stay of longer than three years in a skilled nursing facility.