The White House released a fact sheet earlier this week on the Biden Administration's priorities for older Americans. Along with highlighting a presidential proclamation to declare May 2021 as Older Americans Month, the fact sheet calls attention to the proposed investment of $400 billion to expand access to long-term services and supports for older Americans, specifically referencing assisted living facilities among the places that older adults receive care.
Argentum is continuing advocacy efforts to promote investment in the nation's long-term care needs by leading the Safeguarding Elderly Needs for Infrastructure and Occupational Resources (SENIOR) Act. Our message is simple: to adequately prepare for these growing needs, providers not only need access to financial resources to adequately prepare for these increasing needs, but also immediate financial relief to address the unprecedented expenses and losses associated with caring for this most vulnerable population during COVID-19.
As we note, the future needs for long-term care are daunting: By the end of the decade an additional 20 million Americans will be over age 65, and by 2060 nearly 95 million Americans will be age 65 or older. This aging population, especially those over 85 who are most in need of long-term care, is expected to result in a tripling of long-term care expenditures, to $346 billion annually by 2040.
President Biden’s infrastructure plan, part of the administration’s broader Build Back Better program, signals an intention for making one of the largest federal investments in senior care since the 1965 adoption of Medicare. Argentum’s advocacy efforts, conducted by meeting with one congressional office at a time, are to ensure that these investments fully reach senior living communities.
Read more about our infrastructure priorities as part of the SENIOR Act here.