Solutions for the Sandwich Generation

05-05-2010
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Amelia Island, Fla., May 05, 2010 - More than one out of every five households participates in informal caregiving to persons aged 18 or over, according to research by the Family Caregiver Alliance. By all accounts, chances are high that you or someone you know belongs to a group of working adults that experts refer to as the "The Sandwich Generation."

Members of this group are caught between the demands of caring for aging parents and the lingering presence of "nearly-adult" children. With an estimated 52 million Americans defining themselves as informal caregivers, the group's ranks are increasing rapidly with concentrated patterns of growth in the southern and western regions of the country.

According to a 2005 report published by the United States Census Bureau, a substantial increase in the number of older people will occur during the 2010 to 2030 period, after the first Baby Boomers turn 65. In fact, the senior population in 2030 is expected to be twice as large as in 2000, growing from 35 million to almost 72 million.

As parents age, working adults in their 30s, 40s and 50s will continue to care for them while also struggling to raise children of their own. The burden of balancing both worlds can take a significant toll on an individual's physical and emotional well-being. The Family Caregiver Alliance reports that up to 50 percent of caregivers report they suffer from depressive disorders or symptoms.

The statistics overwhelmingly support the idea that the problem will get worse before it gets better, so how can the Sandwich Generation plan ahead for better results? The answer lies in exploring their options.

Continuing Care Retirement Communities
The Family Caregiver Alliance states that an estimated 10 million Americans needed long-term care in 2000, but that only 21 percent of those needing care moved to a long-term care facility. Instead the majority lived at home or utilized community services while also relying heavily on informal caregivers for daily support.

But the steady climb of divorce rates and life expectancy averages will force members of the Sandwich Generation to deal with increased demands on their time and finances while both those resources become increasingly scarce. Still, experts say only one in six people will make the decision to move into a retirement community on their own accord, opting instead to wait until a medical condition requires them to take advantage of long-term care services.

Matt Younger, the Executive Director of Osprey Village, a luxury retirement community located on Amelia Island, Fla., says retirees and caregivers alike owe it to themselves to visit a retirement community before making a decision on their future.

"So many people have an antiquated vision of what retirement communities are all about," Younger said. "We offer a country-club lifestyle, and we're definitely not the elephant's graveyard. The model has changed dramatically; it's not your grandmother's nursing home."

Like so many other industries, retirement communities have been heavily influenced by the Baby Boomers. As a consumer base, aging Baby Boomers are more demanding than their predecessors and in preparation for their retirement, many communities are adapting their business models.

Younger says an increased focus on independence and self-sufficiency keeps communities such as Osprey Village on their toes as they adapt their model to keep members in their homes for as long as possible.

Living independently for longer also brings up the issue of long-term affordability.

"We have seen an influx in younger members in their 60s or 70s at Osprey Village," Younger said. "They like the financial predictability associated with a fixed monthly payment and many find they will live cheaper here than they live in their own home now."

That extra cost-savings allows members to stretch their money over an additional five- or ten- year period, when poor health can cause costs to skyrocket. In many communities, members purchase equity agreements on their home, and when they need additional care, can use assets gained from the sale of their home to fund their health care expenses.

And when members need assisted living, skilled nursing or even memory care, they aren't facing the same choices so many of their parents did. Today's communities are a far cry from the nursing homes of old. In fact, the institutional model taken from turn-of-the-century hospitals is increasingly becoming defunct. New, person-centered health care facilities deliver quality, individualized care focused on preserving respect and dignity.

Osprey Village offers person-centered health care to its members. Residents can choose from an array of options with everything from how they spend their time to what they eat carefully tailored to promote dignity and improve quality-of-life. Younger says this should become standard operating procedure for retirement communities across the country.

"Members of the Sandwich Generation who are overwhelmed with the challenges of raising children, caring for parents and thinking about their own retirement can take comfort in knowing that their parents are paving the way for a new era in retirement living," Younger said. "Today and 10 years down the road, the goal is the same: to improve upon the concept of retirement living so people can stay in their own homes for longer periods of time and live quality, happy lives until the end of their days."