Workforce » Effects of Healthcare & LTC
Why It's Important
With the convergence of longer life expectancy, the aging of the Boomers, and the
shortage of nurses and children behind them to care for them, Boomers are going
to need to be prepared for the fact that many will need substantial medical and
non-medical care. In the meantime, adequate health coverage needs to include wellness
and prevention and be accessible to all.
See Data By: Richmond MSA | Virginia
| National
How Richmond Is Doing
- Half (47%) of Boomers who have LTCI say they have it because their employer offers
it. Among those who do not have LTCI, half say it is because either it's "too costly"
or they "don't need it." (ODP BUSINESS LEADER, 2008)
- Only one in ten Boomers (11%) say that it is "very likely" that they will need LCTI
at all. (ODP BUSINESS LEADER, 2008)
- Thirty-one percent of employers say they offer access to LTCI, and currently 28
percent of Boomers say they have it. However, this self-reported number is known
to be higher than the actual number of Boomers with LTCI, who may often mistake
health or other insurance for this coverage or assume that health insurance or Medicare
covers long-term care. (ODP BUSINESS LEADER, 2008)
(ODP RESIDENT, 2008)
(ODP RESIDENT, 2008)
(ODP RESIDENT, 2008)
How Virginia Is Doing
- 85 percent of employers say they offer health insurance (ODP BUSINESS LEADER, 2008)
- 31 percent say they offer long-term care insurance (ODP BUSINESS LEADER, 2008)
- 28 percent of Boomers in Virginia say they have long-term care insurance (ODP RESIDENT,
2008)
(ODP BUSINESS LEADER, 2008)
How the U.S. Is Doing
According to a 2001 policy brief by Robert Wood Johnson on Long-Term Care Workforce
Shortages, the future availability of frontline workers is of serious concern. It
is predicted that the difficulty of recruiting nursing and home health aides will
worsen over time. The estimated turnover rates for NAs in nursing homes range as
high as 45 percent to 105 percent. The demand on LTC and the need for NAs may be
compounded further as Baby Boomers are likely to have higher real incomes during
their retirement years than today's retirees (Manchester, 1997) and will be in a
better position to afford LTC. The growth in the long-distance caregiving market
could also place more demands on the formal LTC system in the future.
By 2010, as Baby Boomers approach old age and begin to require assistance, the pool
of middle-aged women available to provide low-skilled basic services will be substantially
smaller than it is today. Many policymakers and providers in the U.S., as well as
in Western Europe and Japan, view immigrants as a potential pool of workers though
some feel reliance on a major influx of immigrants to solve the labor shortage may
have significant negative consequences for our society and the global economy. (RWJ,
WORKFORCE SHORTAGES 2001)
- Between 1998 and 2008, analysts project an increased need for 325,000 NA and 433,000
personal care and home health aide jobs (Bureau of Labor and Statistics 1999), but
there is little evidence that there will be enough people to fill them.
- Nationally, data on turnover rates show a wide variation. Estimates of turnover
rates for NAs in nursing homes range from 45 percent to 105 percent. A 1998 survey
of 12 for profit nursing home chains found 94 percent turnover in nursing aide positions
(American Health Care Association 2001).
- On the one hand, the ratio of the population between ages 50 and 64 to the population
aged 85 and older likely will decrease from 11 to 1 in 1990 to 4 to 1 in 2050 (RWJF
1996).
(RWJ, WORKFORCE SHORTAGES, 2001)
Data & Information Sources
American Health Care Association
http://www.ahcancal.org/Pages/Default.aspx
Bureau of Labor Statistics, Caring for America’s Aging population: A Profile
of the Direct-care Workforce, 2007
http://www.bls.gov/opub/mlr/2007/09/art3full.pdf
Federal Interagency Forum on Aging Related Statistics
http://www.agingstats.gov/agingstatsdotnet/main_site/default.aspx
ODP, Residents’ Study & Business Leaders’ Study
http://www.olderdominion.org/documents/ODP_Exec_Sum_03_26-08.pdf
Robert Wood Johnson, Workforce Shortages: Impact on Families, 2001
http://www.caregiver.org/caregiver/jsp/content/pdfs/op_2001_10_policybrief_3.pdf
U.S. Census Bureau, American Community Survey
http://www.census.gov/acs/www/
Virginia Workforce Connection
http://www.vawc.virginia.gov/analyzer/default.asp