Growing old is inevitable so are aging issues that need to be addressed, which go beyond the normal changes – getting wrinkles, gray hair and other physical and health changes.
The aging population will face more serious problems later in their lives affecting not only themselves but as well as the people they love. Aside from the usual aging and health issues, old people today are at risk of facing issues such as falls, long-term care, loneliness, abuse and slow population growth that would jeopardize healthy aging and as well as the economy.
To help put these issues to light and help the elderly plan ahead, we’ll feature five articles that highlight serious problems of the elderly that are often overlooked.
7 Commonly Neglected Problems to Address for Healthier Aging: The Healthy Aging Checklist Part 3
Dr. Leslie Kernisan wrote an article in Better Health While Aging, highlighting the 7 commonly neglected problems that need to be addressed to promote healthier aging. One aging issue that is very common among older adults but often neglected is seniors falling.
According to the U.S Centers for Disease Control and Prevention, more than 1 in 4 Americans 65 years old and above fall each year. Falls result in more than 2.8 million serious injuries including 800,000 hospitalization and more than 27,000 deaths.
Falls occur in older adults because of a combination of health problems or underlying health problems. One of the problems is insufficient strength or balance, which can be addressed through the right exercises. But to be sure, it’s best to explore other factors such as new illness or medication side-effects.
4 Health Expenses No One Warns You About in Retirement
Everyone dreams to age comfortably and enjoy retirement. Unfortunately, many older adults are at risk of losing their dream retirement due to aging issues such as surprise health expenses. According to Eugene Towns, there are four health expenses that you need to prepare for:
Dental Care
Routine dental care is expensive much more complex dental care. Since Medicare doesn’t cover dental services, your best option is to buy a Medicare Advantage plan or Dental insurance that can help you save as much as $922 on out-of-pocket dental costs.
Long-term care
Around 70% of Americans 65 and above would need long-term care, which is costly. The average annual cost of a private room in a nursing home is $100,379 while a semi-private room costs $88,348.
Unfortunately, Medicare and health insurance won’t cover long-term care. Medicaid provides limited coverage for long-term care but only to those are eligible for benefits – older adults with little income. If you want to avoid paying for the high cost of care and also to protect your loved ones, make sure to secure coverage for long-term care.
Vision Care
Due to old age, individuals need to have their eyes checked and get eyeglasses if they have to in case they can no longer see clearly. But the cost of having their vision checked regularly plus the eyeglasses are not covered by Medicare. However, Medicare will pay for diagnosis and treatment of eye injury, trauma or diseases such as glaucoma.
Hearing Services
Many individuals experience hearing loss as they get older. Unfortunately, Medicare won’t pay for hearing aids. Since this equipment costs a lot – $1,500 to $5,000, people need to plan for this ahead of time by getting Medicare Advantage.
Many Older Adults, Especially Those with Health Issues, Feel Isolated
According to a new national poll, 1 in 4 older adults feel isolated from other people sometimes and 1 in 3 says that they lack regular companionship. Judith Graham of Kaiser Health News shared the efforts of Dr. Linda Fried, a geriatrician, and dean of the Mailman School of Public Health at Columbia University, in tailoring a solution for loneliness in older adults.
Dr. Fried told a committee of the National Academies of Sciences investigating loneliness and social isolation in older adults the need for new societal institutions that bring meaning and purpose. In response to this, Anthem Inc. is planning a national rollout to Medicare Advantage plans of a program that will address loneliness.
However, other approaches in managing loneliness among older adults. According to Dr. Vyjeyanthi Periyakol, associate professor of medicine at Stanford University School of Medicine, a one-size-fits-all approach won’t work for older adults. Instead, there should be a variety of approaches that recognizes different degrees, types and root causes of loneliness.
Related: 5 Strategies for Growing Old and Alone that Actually Work
What Elder Financial Abuse Is & What You Can Do
Another elderly issue that is rampant nowadays is financial elder abuse. According to Steve Timmons, this is the most despicable crime committed because it targets the aging population and often leaves the victims with zero savings.
Based on the estimates of the US Census Bureau, there will be 20% of older adults by 2030, which is far greater than 13% in 2010. The growth of older adults means elder fraud will be more attractive to fraudsters. Some of the most common scams that target the elderly are romance scams, exploitation by a family member or fiduciary and theft by the caregiver.
Since cases of fraud are rising, there are initiatives to raise awareness of elder financial abuse. Some of these efforts are concentrated at teaching the elderly and family members on how to recognize scams and avoid financial losses. In fact, the Congress designated May 15, 2019, as National Senior Fraud Awareness Day.
Aging Millennials Having Fewer Kids Poses Risk To Economy
According to CBS Detroit’s article, America’s aging population is rising and Millennials are having fewer kids than the older generations. This is another aging issue that poses a serious threat to the US economy.
How?
According to David Kelly, chief global strategist with JP Morgan Funds, the combination of retiring boomers and a shortage of working-age creates a problem that can hurt the economy.
He advises that the United States should start a serious conversation about temporarily boosting rather than reducing immigration at least while the aging population is retiring.
Summary
Planning ahead for these aging issues can help many aging Americans address their care needs, prevent financial loss due to scams and avoid becoming a burden to the economy. It’s important to be more proactive when planning for your future to promote healthy aging and also to be financially stable during retirement.
In case you need help when planning for your long-term care needs, we can help you explore your coverage options and find the right policy for you. Start protecting yourself today so you can protect your loved ones tomorrow. Get your free quotes by filling up our short online form.