Posted on Wednesday, March 22, 2017 7:42 PM
According to a new report from the Administration for Community living, the population of senior citizens increased from 36.6 million to 47.8 million between 2005 and 2015 and should more than double to nearly 100 million by 2060.
The biggest increases in senior population include the following:
• Nevada with 55.3 percent
• Colorado with 53.8 percent
• Georgia with 50.2 percent
• South Carolina with 48.9 percent
• Arizona with 48 percent
This study determines significant increases in services for home care and hospice providers in the western and southeastern areas of the United States.
From January 2016 to June 2016, seniors 85 and older were more than twice as likely as adults 75-84 to require personal care and six times as likely as adults in the 65-74 age bracket.
In 2015, California and Florida maintain the largest overall populations with citizens 65 years and older, at almost 5.2 million and almost four million.
In addition, the study showed that ten percent of the senior population in California and Florida live in poverty. On the flipside, less than five percent of seniors in Alaska live in poverty. As for New Hampshire and Delaware, more than six percent of seniors are in poverty.
According to the report, the Social Security monthly benefit in 2016 was an average of $1341 for retirees.
For senior citizens in 2014, the report concluded that their major sources of income were from:
• Social Security with 84 percent
• Assets income with 62 percent
• Private pensions with 37 percent
• Earnings with 29 percent
• Government pensions with 16 percent
For the full article, click here.
Corridor is the nation’s preferred partner and trusted business advisor to home health and hospice providers, providing quality services and impactful results for 30 years. Focusing on key operational, regulatory and financial challenges, Corridor delivering industry-unique solutions and deep expertise in coding, clinical documentation review, compliance, billing and collections , consulting and provider staff education . At Corridor, we make the business of caring for people Better! For the most important industry updates and news that impacts home health and hospice, please make sure to sign up for our weekly newsletter to receive the latest up-to-date industry information direct to your inbox!
For additional information, please contact Corridor at 1-866-263-3795.