The Ageing Problem

Released: 27 Feb 2010

Clients tell us that it is hard finding places in Nursing Homes.  There are long waiting lists and it appears that you have to be in a bad way to get in, or be able to write a big cheque.  This is despite a huge building program and vast amounts of public and private money being spent.

What is the problem and will it get any better?

Looking at the ABS statistics it is hard to believe that it is going to get any better.  The simple fact is that we are living longer and have a greater need for care.  At first this seems a contradiction.  Surely greater life expectancy (which is generally attributed to better diet and health care) should result in a generation of healthy active seniors?  

The statistics provide an interesting, but disturbing outlook.

While life expectancy is increasing, the average period of disability is also increasing.  What this means is that while as a population we may be living longer, we will also spend more years in poor health.  The ABS figures show that between 1996 and 2003 average life expectancy for males increased by 3.6% but the average years spent in an unhealthy state increased by 11.6%.  A male born in 2003 may spend 11% of his life in an unhealthy state.

The simple truth is that in coming years more people will need aged care as a result of population increase, the ageing of the population, and the increased period of disability.  The pressure on the system is set to continue.

What can we do?

Our advice to clients is to "Be Prepared".  Treat it as likely that you, a partner, or a relative will require nursing home care.  It is better to have some basic understanding of the system and have made some basic preparations.  Our experience is that this rarely happens.  

Scott Keeley can provide general or tailored advice in relation to Aged Care fees and Accommodation Bonds.  If you want to "Be Prepared", talk to Scott.