Argentum has released new infographics on the impact of COVID-19 for all 50 states, which include projected losses through Q2 of 2021. These infographics are modeled for each state based on a national model showing $22.5 billion in uncompensated financial losses to date and growing to $29.8 billion through the first half of 2021. Many of the top states for senior living providers, where 70% of all communities are located, show providers have incurred hundreds of millions of dollars to upwards of $2.4 billion due to the financial burdens imposed by the pandemic.
Argentum is leading advocacy efforts on Capitol Hill to secure additional relief from the unallocated resources in the Provider Relief Fund for senior living providers to offset these uncompensated losses. While Congress appropriated $178 billion in provider relief last year, less than 1 percent of that funding has been allocated toward helping the nation’s senior living communities. Argentum is stressing that without financial aid, some of these communities may not be able to sustain operations, resulting in the loss of homes and caregivers for millions of older Americans.
Equitably allocating relief for these caregivers would help offset the continued expenses for PPE, staffing, infection prevention and control, vaccine administration (as facilities must continue to vaccinate a non-ambulatory population), and for ongoing testing, for states that continue to mandate testing and/or follow-up PCR tests (at more than $75 per test).
For more details on the state-based impact of COVID-19 on senior living facilities, go to Argentum’s COVID-19 Impact by State page.