America Is Aging — Are We Ready?

America is getting older, and the challenges that come with aging are becoming more complex.

For families, this isn't simply about living longer. It's about how we help people remain safe and independent while managing chronic health conditions, changing care needs, rising healthcare costs, and the realities of caregiving.

Data compiled by the Advisory Board paints a clear picture of why planning for aging needs to begin before a crisis.

The Aging Population Is Growing

The number of Americans age 65 and older is increasing rapidly. The Advisory Board reports that approximately 10,000 baby boomers turn 65 every day, a trend expected to continue through 2030.

And the oldest segment of our population is growing even faster. The Advisory Board reports significant projected growth among adults age 85 and older.

Why does that matter?

Because living longer often means navigating more years of healthcare decisions, chronic conditions, medication management, changing mobility, cognitive concerns, home safety issues and increasing support needs.

Simply put: we are living longer, but we also need to plan for how we are going to live those additional years.

More Years Often Mean More Healthcare

Chronic health conditions are already common among older adults.

According to the Advisory Board data, frequently occurring conditions among adults 65+ include hypertension, hyperlipidemia, arthritis, ischemic heart disease and diabetes.

Cognitive health is another growing concern. The Advisory Board projected the number of Americans living with Alzheimer's disease to increase from 6.1 million in 2020 to 8.5 million in 2030 and 11.2 million by 2040.

For families, multiple health conditions can quickly turn into multiple specialists, medications, appointments, recommendations and decisions.

That's where aging can become overwhelming—not because families don't care, but because healthcare is complicated.

The Financial Side of Aging Matters Too

Healthcare costs can have a significant impact on retirement.

The Advisory Board reported that average annual out-of-pocket healthcare expenses for adults 65+ increased from $4,846 in 2009 to $6,833 in 2019—a 41% increase.

The report also estimated that total healthcare expenses during retirement for a couple retiring at age 65 increased from $250,000 in 2010 to $295,000 in 2020.

These numbers reinforce an important point:

Healthcare planning should be part of retirement planning.

Families often prepare carefully for investments, housing and estate planning while spending far less time discussing questions such as:

• Where do I want to live as I age?

• Is my home going to continue to work for me?

• Who will help if my health changes?

• Who will coordinate my healthcare?

• What happens if I can no longer manage everything independently?

• Who will advocate for me if my family lives out of town?

• What resources will I need, and how will I pay for them?

Those conversations are much easier to have before an emergency.

More Older Adults Are Living Alone

Independence is important to most of us, but living independently also requires planning.

The Advisory Board reported that 27% of adults aged 65+ were living alone in 2020, and women were considerably more likely than men to live alone.

For an older adult living alone, even a relatively small health change can create bigger questions.

Who notices that medications aren't being taken correctly?

Who recognizes subtle cognitive changes?

Who goes to the doctor's appointment?

Who helps after a hospitalization?

Who makes sure the home remains safe?

Who responds when something suddenly changes?

For people who are aging solo or whose children live in another city or state, creating that support system in advance becomes especially important.

Families Are Carrying More of the Responsibility

Our aging population doesn't affect only older adults. It affects their families, too.

The Advisory Board reported that the number of Americans providing unpaid care to adults aged 50+ grew from 34.2 million in 2015 to 41.8 million in 2020—a 22% increase.

Family caregivers may suddenly find themselves coordinating appointments, managing medications, researching senior living, arranging home care, communicating with doctors, and trying to understand Medicare or long-term care insurance—all while managing their own careers, children and responsibilities.

That's a lot for one family to navigate.

Moving From Crisis to Planning

At ElderCARE, we believe one of the most important changes we can make is moving the conversation upstream.

Instead of waiting for the fall, hospitalization, dementia diagnosis, or caregiver crisis, we can begin asking earlier:

What can we do today to help this person remain safe, healthy, and independent tomorrow?

That might mean evaluating the home for safety and livability.

It could mean reviewing medications and healthcare needs.

It might mean developing an emergency plan, identifying a healthcare power of attorney, discussing future care preferences or connecting with trusted community resources.

Sometimes it simply means having a professional look at the whole picture and help a family understand what they should be thinking about next.

How ElderCARE Helps

ElderCARE helps older adults and families navigate the practical realities of aging and healthcare.

Our multidisciplinary team can support families with care management and healthcare advocacy, medical appointments and coordination, medication management, cognitive and dementia concerns, caregiver education and support, aging-in-place planning, home livability and safety assessments, assistive technology and devices, healthcare power of attorney planning, long-term care insurance support, care transitions, and connections to trusted local resources.

We aren't here to take away independence.

We're here to help people protect it.

The earlier we begin planning, the more choices older adults and their families typically have.

Aging is Hard. Healthcare is Harder.

You don't have to figure it all out alone.

Data referenced from Advisory Board, “Caring for Our Aging Population” infographic series. The Advisory Board publication compiles data from sources, including the U.S. Census Bureau, Administration for Community Living, CMS, CDC, Alzheimer's Association, AARP, and other organizations. The Advisory Board document is © 2022.