population ages, there's also a decline in the working age, members of society, and increases in health care costs. i'm christy, i'm, you're watching the cost of everything we're today. we're going to be breaking down the costs of aging. an elder care, the many americans who serve as caregivers are consumed by the men's cost of tending to ailing or aging family members. and as a baby boomer generation ages, more americans are in for a rude awakening. as to just how expensive caring for older adults has become. the price of nursing home care has increased an average of 2.4 percent each year due to inflation and the increased demand for adult daycare assisted living facilities or nursing homes. long term care services are expensive as a senior housing industry requires a large workforce of nurses and staff to support it. senior housing also caters to

a high income population. now in the us, long term care costs between $35000.00 to a $108000.00 a year. but the medium costs to stay at a private room in a nursing home is over $9000.00 a month. a semi private room would be around $7000.00 at a price to stay in a living facility as around $4500.00 a month. and many baby boomers do not have enough retirement savings to cover the cost of living in good health, let alone and poor more than 2 fits of baby boomers don't have any retirement savings. and these adults will need to rely solely on the income they receive through social security. because medicare does not cover nursing homes or assisted living facilities, a 70 percent of adults age 65 years and older will require long term care at some point. and the average length of these days these facilities is about 3.2 years.

memory care facilities are growing up, the fastest rate ever in the senior housing market sector. these facilities offer more hands on care of for people with dementia. and they can include special features like walk units that prevent patients from wandering around and leaving this facility on attendance and enclosed outdoor spaces where patients can move around safely. in 2019 there were about 8000000 middle income seniors living in the us. but by 2029 there will be about 14000000 middle income seniors with 60 percent expected to have mobility limitations and 20 percent expected to have high health care and functional needs. and now today we're joined by keith mock director of lead management at home instead to now keys. how have these costs were elder care evolved over the years and what factors are contributing to their increase? yeah, so definitely health care has increased along with home care and assisted living.

the primary factor is of course, as you might expect, the employment costs of competition. we're seeing a lot of competition from other industries for the same employee pool. for example, with the fast food industry, you're coming to see $20.00 to $25.00 an hour. and so we're competing with those same for, for the same employees within the home share and broader health care deal with home care. specifically, we're competing against large hospital corporations as well. and that makes it a bit tricky because they have more resources, obviously to lower employees too. so that's the other aspect that we're seeing that's making it challenging to get employees. the result, naturally, the cost of hiring those employees are going uh we're also seeing cost increase as

a result of you know, pandemic, obviously cobra being the most recent $1.00, the hazard pay associated with a has, has bumped up pricing as well. the p p that we have to provide in our employees to provide the chair safely, has also bumped up those costs. so those are 2 of the primary factors that we're seeing in the, in additionally, the, the cost of living wage and inflation obviously, is a big part of this. inflation hits our employees, especially hard the cost of child care, just to in groceries as another example. and so the all of it combines as really creative effort pressure on the cost of, of health care. but for us, home care and elders care of generally. and what challenges might arise in needing the increased demand for long term care. so definitely the,

the caregiver pool is trained. so we spend a lot of resources just looking for the perfect caregiver. we don't want to hire any caregiver to work with our clients, obviously. so the quality of the caregiver is also a vital and that's not an easy process, and it's certainly not a cheap one there. so just those recruiting cause that we occur, you know, make that very challenging to, to find the right caregiver. um, also another aspect of this would be, i would mention again, we're still recovering. it depends on where we had a healthy pool of caregivers who are available on the older side. but we're very experiencing, very knowledgeable, very is joyful. and they took that opportunity during the to so to leave the field

. and so we've been in the process of replacing those folks basically ever since. and sort of that learning roads is also a big challenge of this and in training and instructing new caregivers that come in uh, you know, how to chair for a senior citizen is a big part of this and how to individuals and families typically navigate the affordability challenges associated with long term care, whether we're talking about a facility or hiring and at home nurse, do some families need to seek some sort of funding. yeah, this is a, this is a big one obviously. and there's multiple ways of them, particularly perfect, but, but piece meal together. that sometimes the a solution for families, obviously private pay is a big part of this isn't for us, but the homeless dad, we are as a company, i'm a really, we also work with the v a. so we have

a lot of veterans who take advantage of va benefits. va has a very substantial home care that, that, that may get some on 12 to 20 hours a week. and so certainly we have a lot of clients to take advantage of that. now there's options out there such as reverse mortgages, you know, moving in with the kids that's become a reality for so many seniors. you know, trying to cut down cause we see this a lot in our area. yes. on an usable for parents to move them. kids to live in the basement because without you know, that the basement with everything they need. and so, you know, that's the way of cutting the cost as well. we have a lot of long term care insurance clients as well. this obviously is not a cheap uh, solution. some people were uh,

were lucky and got it on the ground floor on this, you know, decades ago through their employer or a private policy. and so we do have a lot of clients. i utilize a long term care benefit and you know, at the end of the day also we have the medicare benefits, which there is a home care dentist that was in medicaid. there was an assisted living benefit within medicaid and may in may require, has been down of assets, but nonetheless, it is there. and it is as an option. and how does the costs of long term care in the us compared to those in other countries? seniors in the united states do have a bit of a more luxurious case and a lot of the senior assisted living, the communities and senior communities, and especially in northern virginia area. but it's really, it's about the united states that there is a home or a resort in some cases and you know, with great meals and great activities and so forth. but on average, you know,

that we're about 20 to 50 percent higher than that. many of the country is out there. um, obviously it depends on the benefits that a country might provide for the citizens. but the, you know, who you tell me, for example, it's gonna be about 20 to 30 percent higher here than in the u. k. um, but here in a little less are a more affordable options and uh, and he gets, you know, so it goes out for us as i mentioned, medicaid is an option for you. assisted living communities. but nonetheless, we are, we are higher taste or more expensive. and our communities are a top top notch from everything i've ever seen. and how does community and family involvement contribute to addressing the long term care needs of aging individuals? obviously, the more the family is called, the better for the senior. is this better?

so a better way to live this healthy or is more beneficial? it prevents convince sometimes of the onset of dimensions, severe symptoms. you know, we saw the impact jack who had ice away, so not seniors that were isolated. it didn't have access to their family. we saw the been so rapidly increased, sometimes exacerbate and so the more the family as a whole, definitely the better is also better on the cost of it. you know, the more the family can participate in here, the better. i would say the family also though has to consider the long term costs such as burn out is some families like to remain the family and not just because the caregiver and so that's when a company like home instead can come in and provide the rest that care for the family so the kids can continue. ready remaining the kids and not only you know, the caregiver. now also another interesting that we've seen are of our

neighbors that take an interest in each other, whether it be just making a meal or, or, or getting mail or checking in on their neighbor. you know, we see neighbors the of the benefits having active neighbors involved with seniors as well. how do workforce challenges such as the shortages and health care professionals impact the cost and quality of long term care? so i would say that a lot of our best caregivers are our parents or mothers and fathers, and so long as that comes the child care in need, of course. and i know that's a challenge, a lot of them navigate and then have difficulty with. and so that, that's another, that's definitely another challenge that we see. transportation also continues to be a challenge for our caregivers, reliable transportation,

or that can get into their clients. and you know, reliably it is, is there's another component in that, that, you know, we often face. thank you so much case, but please stick around these mark will stay with us right here after the break. and when we come back, we're going to explore how much it costs to take care of the elder and countries like china will have more after the break, the a sick awful lot go that you got to get better. you go to the hospital. yes. what you need to do to

help you a say, i mean what, what do you need to walk up to? people that are drug addicts, just keep going cold. turkey is like going through withdrawals, and a lot of these 12 school to withdrawal, giving them money will kill them. so you just gotta give him the government don't want go as no money. not very good, but truly getting worse and worse every year. as we go, the

the, the, what happened on october, the 2nd was a deal breaker for it was the slaves revolting against the master. when slaves revolt against the legitimate masters, that is not going to be peaceful and it is going to be violent terrorist here and that will take care, right. and there is, there is there, there in just surrounding the entire area of the party became ready for us. you know, they knew we're going to scatter like ship terrible tragedy and terrible revenge for the day. so i and i know who sent me some of the, the on off know,

especially the play shall be the good this of being prevented and drop one. but it seems to be that we don't want, it needs to be. we want to peoples of the land to leave in peace and prosperity. is it possible to have peace in this region ever again? the meanwhile at china is also aging quickly, as it will have more than 400000000 people over the age of 60, by 2040, which is nearly a 3rd of its total population. by then higher living and health care will eat up a quarter of the countries g, d, p. and this will reduce the supply of the labor force while increasing the burden

on families elder care a. but unlike many western countries, chinese elderly are expected to remain in their family homes and be cared for by their children or grandchildren. there's a strong stigma in china against placing aging parents or older members of the families in nursing homes. and china is one child policy from 1980 to 2015 has meant that smaller families are increasingly expected to support an aging population. while a rising number of elderly are living alone. this place is an additional burden on the one child who will be expected to care for 2 elderly parents. it is when the seniors need the help with chronic illnesses, disability, or dementia, that care becomes complicated and they may have to be admitted into nursing homes. access to good senior care also varies greatly across the country with large gaps between the wealthiest and the poor. as provinces and 2013 the nationals people's

congress passed an unprecedented and controversial law for the protection of the rights and interest of elderly people, also known as the filial piety law. this mandates that adult children provide culturally expected support to their parents, 60 years or older. in practice, the law and related regulatory measures are actually more aspirational then punitive. recently, china has also issued guidance to all provinces to build a basic elderly care system by 2025. china is experiencing its 1st demographic downturn since the culture over the revolution, and in 2020 citizens 65 and older account of for 13.5 percent of the population. ok, so now provinces are required to implement a list of basic elderly care services based on factors such as economic and social development and financial situation. services include material assistance,

nursing and caregiving, and must provide visiting and carry services for elderly living alone. in cities such as shanghai or beijing, the cost of a nursing home ranges from $310.00 per month to $3100.00 a month. in shanghai, only 3 percent of the cities elderly population is cared for in nursing homes. the majority still remain at home and they or their families, hire and caregiver to provide some form of assistance at a monthly cost of $450.00 to $700.00 in obtaining a spot in a nursing home has been incredibly competitive with a wait list of more than 10000 applicants. so for the time being, the chinese government is promoting a 3 tiered senior care system. whereby 90 percent of elders are expected to stay at home. 7 percent at community centers and 3 percent at institutional senior care centers. so for this and more, let's bring in again keith smock. now, keith,

how do cultural attitudes and expectations influence the approach to long term care costs? i think it definitely affects the quality. so any time we can connect someone with similar cultures, similar language is we certainly do it because care is ultimately about communication. if you can't communicate with your client, it becomes very hard to provide quality care. and also another aspect of this is maybe even customs and diet. if, if we can provide a caregiver that understand. ready those 2 aspects of the client and then that becomes much more beneficial and a much better quality of care, which leaves provider outcomes, either cultural differences that should be considered in developing policies or solutions related to the affordability of long term care. yeah, so i know for us as a, as a private company i hit on

a little bit ago just in it with regards to matt, being doing the best match rather making the best match that we can with our clients and their caregiver is vital. and a lot of that comes down to similar interest. uh, similar uh, you know, similar backgrounds. and i think that's the biggest thing that i see that needs to be focused on the home care at least. and how can technology and innovation contribute to making long term care costs more effective? inefficient. yeah, so this started several years ago with the, uh, the uh, the, the call button is, uh, the commercial that talked about. i phone and i didn't get up. and so you know that and that was really the telescopes of technology and it is still a valuable tool today that seniors are able tell alert when they've been on the summer. ready and need assistance, of course, as for himself, a bit since then,

a lot of our clients utilize cameras in the home to check in on the client and or their parents, whether our client. also at the top end of this obviously is robust technologies that are helping companies like home instead and or parent company on or efficiently schedule a care caregivers for our clients. taking into account preferences and schedule availability of expertise and knowledge of that's really kind of what we're seeing right now. and the technology, there's quite a few companies of buying for that. i'm trying to develop them. perfect it and we'll utilizing some other what you might see what to be on. hoover situation connecting someone right. ready way as quickly as possible, and having flexibility where you're going to locate that caregiver and, and how quickly you're going to be able to get that caregiver to the home. how have

the us government address the growing need for long term care and what policies are in place to support aging populations? so the united states hasn't really trust the, the home care solution this i'm speaking here on behalf of the home and said there's constantly rumors that medicare will include some sort of home care benefits. we have yet to see that. now obviously in terms of medicaid medicaid does have that home care benefit and the other assisted living benefit, but you know, it takes the pamphlets to, to qualify for that often to now with medicare, regular, medicare. they do provide that 60 days of care. but a lot of folks mistaken, we believe that that will cover extended home care that's typically only for 60 days and only provided by a skilled agency that also happens to employee,

maybe caregivers as well. so that skilled agency can supply a skilled nurse can supply p t o t and a home health a for 60 days. after that, it's really up to the senior and the family to come up with those solutions. either challenges or advantages associated with rely on family based care system. so family base care systems are, are awesome. i think i in love with the family, if you can bring in a component of home care to make sure the family isn't getting burned out from the cause of care that that really sets up the family for success down the road. but obviously the family knows the senior, and they're obviously most involved in the senior license. so they're gonna be able to provide some of that desk chair, the 4th floor of the senior. and so anytime with family can be of cause we walked

on the homeless dad. in fact, we really view the family as a vital component of this. because ultimately those are advocate and they need to remain in loans. because ultimately at the end of the day, the new home care agency or assisted living facility has limited resources and, and limited capabilities. and so the family really needs to remain uh, you know, in charge of the chair and overseeing the chair or the elderly making their own decisions when it comes to where and how to spend the rest of their lives. or does the family still have a lot of say in regards to that? yes, so seniors definitely typically take charge of their care in from our conversations with the children of seniors. they often don't look forward to those conversations about having to bring care to the home. and so seniors definitely want to say and they continue to have the say at some point,

outward forces may change that whether it be changes in and targets of abilities with adventure or all timers or whether that be financial resources. at some point the children may have to take over the next year as power of attorney isn't and take the lead on that. but definitely, while seniors are cognitively able and it says that the able, they're definitely in charge of their care and they prefer that way as you might imagine. thank you so much case for all your time today. while it is clear that people are living longer, are they living any better? are these added years healthy years, or does it mean that society will be experiencing more disease and disability? a survey showed that a high percentage of people over the age of 65 have no natural teeth, and a substantial portion experience has at least some level of memory impairment, and other chronic conditions of. all of this will surely require more assistance

and place a heavy burden on society. i'm christy. i thanks for watching and we'll see you right back here next time on the cost of everything. the russian states never is as tight as i'm sort of the most sense community. most all sense and the same assistance must be the one else holes. question about this, even though we will fan in the european union, the kremlin media mission, the state on the russians coding and split the ortiz full neck,

even our video agency, roughly all the band on youtube. the question, did you say to stephen twist, which is the

of the 1918 the countries of the west won the final victory over the ottoman empire. the sultan's government capitulated to the inside and sign that humiliating armistice, upload grove, great britain and france. and italy wanted not only to destroy the ottoman empire, but also to divide the prime orderly turkish lands among themselves. in 1919, their armies began to land on turkish territory. but the west decided to choose greece as the main striking force. seeking to make others realize this aggressive

plan. for an intervention, provo massey indignation among the turkish peoples. the national liberation struggle was led by the experience of general mustafah come all as a 3rd in order to bear down the enemy, a bank on the mobilization of the nation. and the alliance with russia, which i did as a united front with turkish patriots. at the end of august 1922. the 3rd, so army won a decisive victory over the invaders in the battle of doom. levine, art and within a month liberated all asia minor. from them, the impressive success of the circus army force the west to make concessions. in 1923, the loss on these treaty was signed turkey. one of the 1st countries in asia managed to defeat the colonial empires and defend its independence. becoming an example for

millions of via press on the planet the in the countries that defended their funding to under law maintain their decisions . the impact will be kept us the traffic on the people up because lot right now as moving to a dozen countries joined the us on the you in suspending funds to the un refugee agency. the palestinians underwater itself was of devastating consequences for the lives of the entire civilian population of guns fighting intensifies in southern guns that don't cause mode of deadly consequences. not only for me is wally as flights, but on the box at least for the inspection of the field hospitals also coming up this out. the

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