Ashley Moody on At-Home Elder Care: Reducing Costs and Increasing Freedom

The Importance of At-Home Elder Care

• 💡 Florida, known as the "Sunshine State," is also the "Silver State" with nearly a quarter of its population being seniors.
• 📌 The Older Americans Act provides critical support, stability, and meaningful assistance to families facing caregiving responsibilities.
• 🏠 Many seniors, approximately 28% of those 65 and older, live alone and may face isolation, especially during the holidays.

Financial Strain on Family Caregivers

• 💸 Nearly 50% of family caregivers report negative financial impacts due to caregiving, with out-of-pocket costs around $7,000 annually.
• 💰 Many caregiving expenses are not tax-deductible, highlighting the need for tax code adjustments to recognize caregiver contributions.
• 📈 Senator Scott's proposed legislation includes a tax credit aimed at alleviating some of these financial strains.

Rebalancing Home vs. Institutional Care Spending

• ⚖️ There is an imbalance in state-level spending between home and community-based care versus institutional care.
• 🎯 Some states are setting targets to rebalance dollars towards less costly home-based care.
• 🚀 Fully funding and reauthorizing the Older Americans Act can help address this imbalance by increasing support for home and community-based services.

Cost Savings and Increased Demand

• 💰 Shifting resources to in-home caregiving could lead to significant cost savings compared to institutional care, which is estimated to be twice as costly.
• 📈 Despite a nearly 50% increase in family caregivers over a decade (20 million more), funding for the Older Americans Act and the National Family Caregiver Support Program has remained relatively stagnant.
• ✅ Supporting family caregivers with programs like the National Family Caregiver Support Program and respite care enables them to provide care for longer durations, potentially mitigating increased costs associated with higher demand.
• 🏥 Supporting in-home care can also lead to savings on other costs, such as emergency room visits.