+ Interview: Kare Backstrom – Future of Elderly Care
Kare Backstrom is Vice President for Schiff, Kreidler-Shell Insurance Company in Cincinnati, Ohio. He has worked for the company for 16 years. Schiff, Kriedler-Shell offers personal insurance, business insurance & risk management, benefits & financial services and surety bonds. (http://www.sksins.com/)
What do you think the future of elderly care will look like?
With the aging of our population, it will obviously change. The tremendous cost for each State will also add budget constrains. Since it’s generally cheaper, home health care and assisted living care will likely grow substantially.
What do you think are the most important factors that determine elderly care selection?
It depends on the type of care you’re looking at. With assisted living, what other services and activities are available or provided. In more of a nursing home situation, the training of the staff is important to ensure each person is cared for properly.
What is the biggest challenge facing elderly care in the future?
Cost and staffing. Very few people can afford the care, especially at home. Finding quality workers will also be challenging, and how to compensate them properly.
There seems to be a trend toward changing the culture in nursing homes. Have you heard of the Eden Alternative or Green House Replication Initiative and do you think it is a successful alternative to current nursing homes?
No I have not heard of the alternative. But I’m skeptical of the Green House Initiative, and that the proper care can be administered in such small facilities. For some more “active” residents, offering a variety of things to do will be challenging at the same time as other residents are deteriorating medically (and physically) thus requiring a totally different type of care and attention.
Do you think that a state funded long term in-home care program would be a more cost effective plan than for states to pay for nursing home care?
Not sure. To care for tens of thousands of people at home would be challenging from a medical standpoint. It would also limit the amount of “activities” offered to them. I have toured assisted living facilities and nursing homes where activities ranged from in-house ice cream stores to art and craft areas, to live entertainment/musicians to visiting beauty salon workers.
What effect does long term care have on the insurance industry?
It provides an opportunity to sell an insurance product to a very narrow segment of the population. The vast majority of people can not afford to buy any type of coverage, as they are financially unprepared to face retirement. Another obstacle is pre-existing medical conditions, since we’re talking about selling a medically underwritten product to older individuals. Since the states/federal government will be faced with an ever increasing cost burden, a tax deduction for purchasing LTC insurance is also needed.
What do you think the future of elderly care will look like?
With the aging of our population, it will obviously change. The tremendous cost for each State will also add budget constrains. Since it’s generally cheaper, home health care and assisted living care will likely grow substantially.
What do you think are the most important factors that determine elderly care selection?
It depends on the type of care you’re looking at. With assisted living, what other services and activities are available or provided. In more of a nursing home situation, the training of the staff is important to ensure each person is cared for properly.
What is the biggest challenge facing elderly care in the future?
Cost and staffing. Very few people can afford the care, especially at home. Finding quality workers will also be challenging, and how to compensate them properly.
There seems to be a trend toward changing the culture in nursing homes. Have you heard of the Eden Alternative or Green House Replication Initiative and do you think it is a successful alternative to current nursing homes?
No I have not heard of the alternative. But I’m skeptical of the Green House Initiative, and that the proper care can be administered in such small facilities. For some more “active” residents, offering a variety of things to do will be challenging at the same time as other residents are deteriorating medically (and physically) thus requiring a totally different type of care and attention.
Do you think that a state funded long term in-home care program would be a more cost effective plan than for states to pay for nursing home care?
Not sure. To care for tens of thousands of people at home would be challenging from a medical standpoint. It would also limit the amount of “activities” offered to them. I have toured assisted living facilities and nursing homes where activities ranged from in-house ice cream stores to art and craft areas, to live entertainment/musicians to visiting beauty salon workers.
What effect does long term care have on the insurance industry?
It provides an opportunity to sell an insurance product to a very narrow segment of the population. The vast majority of people can not afford to buy any type of coverage, as they are financially unprepared to face retirement. Another obstacle is pre-existing medical conditions, since we’re talking about selling a medically underwritten product to older individuals. Since the states/federal government will be faced with an ever increasing cost burden, a tax deduction for purchasing LTC insurance is also needed.
Labels: Elderly Care, Health and Wellness, Interviews
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posted by Jodie Williams on Tuesday, October 09, 2007
