More than 3 out of 4 Americans hope to age in place, but just as many are worried that they lack what they’ll need to make it happen.1 The baby boomers are leading a demographic shift toward an aging population. They will need increased support to maintain the independence they want and deserve, and the current U.S. health care system is not set up to support them.
This is especially true when it comes to social support. Despite studies that demonstrate a substantial reduction in health care costs when people have access to social support, transportation, and secure housing, these “social determinants of health” are rarely addressed by conventional services provided to older Americans.
For Medicare Advantage plans, the gap in our aging-in-place infrastructure represents an important opportunity. Solutions that help members address health-related social needs can drive cost savings, better outcomes, and an improved member experience, all at the same time.
Companion care services break down the barriers that prevent many people from safely aging at home–reducing health care costs and even saving lives. And health plans have a critical role in providing older adults with this critical source of social support.
In this guide, we’ll explore:
- The key challenges many older adults face when living at home
- The ROI for health plans in addressing these challenges
- How Papa can help health plans provide critical social support to older adults