Adult Foster Homes
The Need, the Crisis and the Opportunity
There is an urgent situation developing in America. We are facing a looming challenge in the health care industry. America’s 77 million baby boomers are aging. Baby boomers were born between 1946 and 1964. It has been reported that they comprise 29% of the American population. The first of them turned 50 on January 1st of 1996. They will become the largest generation of retirees in American history. To put it simply there is not enough long-term health care to support the upcoming need.
Many are referring to the upcoming challenge as the elder care crisis. The crisis includes an overloaded long term care system and catastrophic costs for those who pay privately.
While acute medical care is subsidized by Medicare and Medicare supplemental policies long-term care is not supported by Medicare. Long-term care options include nursing homes, assisted living facilities, residential care facilities and adult foster homes. Monthly costs can exceed $5000 per month. Care options will be covered in more depth in the next chapter.
The crisis can be viewed as an opportunity for enterprising individuals who decide to provide adult foster care. Adult foster homes are, by far, the least expensive option available to the elderly. They provide a home-like environment, interesting activities and medication management. Because the cost is significantly lower than other options they minimize the financial impact for many. Others may convert to state assistance programs. In those cases the residents pay a portion, from their social security while the state pays another portion to the foster home.
Although certification as a CNA, LPN, RN, PT would be an asset you can establish an adult foster home without a medical degree, license or certification. The state licensing authorities provide various training programs and monthly training opportunities to support foster home care providers. In Oregon the adult foster home “Boot camp” training is called the EQC (Ensuring Quality Care). Successful completion of this instructional course in required in order to qualify for licensure.
The elder care crisis is already upon us. Long term care system is already in stress and the demands on it will only grow worse. Many caring individuals are urgently needed to be part of the solution. Starting an adult foster home can make you part of that solution. It can be gratifying and financially rewarding.
Example of Adult Foster Home
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