Thursday, April 18, 2013

The Growing Number of Nursing Home Residents

There is a startling reality in the United States that over 1.3 million seniors are living in nursing home care. This number is growing every decade, as medicine gets better, and people are living longer than ever. At the price tag that averages nearly $83,000 a year per resident, it’s no wonder why the nursing home industry is as big as it is.

The largest generation of Americans is the “baby boomer” generation, made up of post World War II babies. This period extended all the way from 1946, up until 1964, and consisted of nearly 76 million babies being born in the United States.

While many would prefer not to live in nursing home care, the truth is that at a certain age, many Americans need such care.  Pretty soon, America’s greatest generation will be filling out nursing homes, as more baby boomers are becoming senior citizens every day. In fact, nearly 10,000 baby boomers are turning 65 years old every day! At the price tag of about $83,000 per resident, the future for the nursing home industry looks bright.

Not only are these baby boomers becoming seniors in droves, they’re also living longer. The average life span is currently about 83.8 year old. That’s almost 19 years of being a senior citizen. It’s no wonder why the number of people living in nursing home care is higher today than it ever has been in the past..