The National Center for Assisted Living (NCAL) is pleased to announce the release of new member-exclusive resources aimed at supporting efforts to expand affordable assisted living options. NCAL worked with certified public accounting and business advisory firm Plante Moran to develop materials members can use to explore the feasibility of growing affordable assisted living opportunities across the country.
The suite of new resources includes:
- An executive summary highlighting important data about the growing senior population, a summary of key operating data, and potential development characteristics of the assisted living market landscape in relation to assumptions that may be used in expanding assisted living services.
- State-specific data (for every state and the District of Columbia) that includes market characteristics, unemployment trends, wage rates, and Medicaid waiver data.
- The Assisted Living Operating Proforma and Financial Feasibility Analysis Model to help assess the viability of expanding affordable assisted living offerings (in Excel format).
- A user guide with specific instructions on how to effectively utilize the Assisted Living Operating Proforma and Financial Feasibility Analysis Model.
These new resources are part of a larger effort by NCAL to help members meet the changing needs of a growing senior population. Nationally, the 80 and over population is forecasted to grow over 9 percent between now and 2027. The number of unpaid caregivers will on average decrease over the next five years, resulting in the increased need for paid caregiving in an appropriate long term care setting such as assisted living. Lower incomes for those 75-plus and home ownership also play a role in affording assisted living care.
Additionally, NCAL has released a
white paper, “The Importance of Expanding Affordable Assisted Living Options and Proposed Solutions.” It outlines challenges to offering more affordable assisted living for low- and middle-income seniors and offers solutions, such as utilizing state grants/programs and properly funding Medicaid.
NCAL will continue to make affordable assisted living a priority throughout this year and beyond. Please contact
ncal@ncal.org with any questions.