Issue Summary

• The U.S. population is rapidly aging. In 2034, our nation will have more people age 65+ than under the age of 18. The population of those age 85 and older is projected to grow 198% by 2060.
• 70% of Americans over the age of 65 will require some form of long-term care in their lifetime. By 2050, the number of Americans requiring LTC will triple from 8.3 million to 27 million.
• More than 40% of baby boomers do not have any retirement or LTC savings.
• The U.S. spent over $400 billion on LTC in 2020, nearly 10% of all national health care spending.
• Veterans choosing assisted living instead of a nursing home could save the VA $69,101 every year.
• The senior living industry lost approximately 400,000 jobs between 2020 and 2022; the senior care industry will need to fill more than 20.2 million jobs by 2040.

Legislative Solution

The SENIOR Act (Safeguarding Elderly Needs for Innovation and Occupational Resources) is bipartisan legislation that would provide programs to increase access and affordability of assisted living and address the industry’s workforce development needs, by:

• Helps lower-income seniors receive affordable care in assisted living through cost-reduction program, saving Medicaid money.
• Re-targets existing HHS and DOL workforce training programs like Job Corps, American Job Centers and others to offer specializations in senior care.

Please join us in this effort by sending a message to your member of Congress urging their support of the SENIOR Act!