The Evolution and Future of Senior Living
The senior living industry is in the midst of changes, preparing for the influx of baby boomers that will be retiring and an increased aging population that will have expectations that go beyond today’s traditional options of assisted living facilities and nursing homes. We have already seen this with Continuing Care Retirement Communities (CCRCs), which are designed around the idea of aging in place. The communities are set up so that seniors can live independently and progress into assisted living as their needs changes, and eventually move into skilled care if required. What you have is active senior adults who are looking for a senior housing option with independence, choice, and social networking while at the same time remaining in the same community as their health dictates and they need more care.
Other changes in senior living are reflected by the fact that baby boomers, in addition to wanting physical independence, will want control over the environment in which they live. That means more choice in terms of the types of residences and the services and care being provided. Technology will play a significant role in helping seniors communicate with family and in assisting them with physical disabilities. More apps will be developed for a range of devices including laptops, PCs, tablets and smart phones. Cross-platform applications will also be critical as caregivers (both professional and familial) will want to carry their own devices and won’t want to carry multiple devices.
Another trend the industry is seeing is the concept of multigenerational housing, the Greenhouse Project, senior villages, co-housing, homes built with in-law apartments and other communal living solutions as individuals and families look at the costs of senior housing. We’ll see more and more elderly moving in with their families or each other as they weigh the economic benefits. Each of these solutions provides maximum flexibility but as these models become more popular, such issues as regulation and funding will come into play.
The senior industry will also see an increased need for qualified professionals to help care for an aging population. Organizations will have to make career development a higher priority to attract and retain talent as part of their overall business plan.
At Caitlin-Morgan, we specialize in the insurance needs of senior living, including nursing home & assisted living facilities. For more information about how we can provide your clients with a comprehensive insurance solution, please call us at 877.226.1027.
Resource: Senior Housing News