Here is what we’re reading in the 50+ marketplace.
Generations Now Article: Don’t miss our roundup of the news from the Alzheimer’s Association International Conference.
An Orlando doctor is conducting the first clinical trial for Lewy body disease, the second most common cause of dementia in the US.
PACE may operate under flexible work rules
If proposed updates go through, PACE caregivers will be able to take on more responsibilities, instead of being limited by rigid rules. In Programs of All-Inclusive Care for the Elderly, work rules are very defined. Only certain people can perform certain tasks. So scheduling, hiring and care is more difficult than necessary.
Under the new rules, people who are not physicians — caregivers and nurses — could perform some activities that were reserved for physicians. More flexibility could encourage more states to expand PACE programs. Burn your eyes with the 162 page proposed rule.
Healthy people buy cheap insurance
No surprise here. Healthy people choose the cheapest insurance. Less-healthy people choose plans with more benefits.
When price is the only datapoint, it’s going to be the decision factor. However health insurers have been caught off-guard, and everyone (except consumers, perhaps) expects prices to rise in the coming enrollment period for 2017.
Instead of buying a health insurance policy to cover their workers, some companies are paying their employees’ medical claims directly. This removes a population of healthier people from the health insurance market.
Does 24-hour lighting hurt seniors?
Rats exposed to hours of artificial light grow weaker in just 2 months. Light affects circadian rhythms and ability to sleep. Lack of sunlight and vitamin D may play a role. What could this mean for nursing homes?
Retirement & Finance
How to reduce Medicare and pensions
Baby Boomers called out for financial burden
“Generation Screwed” is at the core of a labor dispute of postal workers in Canada. New hires will get an inferior, defined-contribution pension plan, while current workers get to keep their defined-benefit plan. In other words, younger workers pay a fixed amount into pensions every month, with no guarantees on what they receive when they retire. Yet current workers have a 100% guarantee on their pensions when they retire — soon.
Millennial fraud a problem too
Millennials are more likely to fall for a scam than their parents or grandparents. According to a Better Business Bureau poll, the so-called “optimism bias” creates an age-specific “invulnerability illusion.”
Aging & Technology
VC invests again in senior care “on demand”
Honor — which connects caregivers with seniors who need care — raised their B-round week. The best report is from the Guardian. As more millennials — “digital natives” — care for aging parents, they want convenient solutions. This is elder-care for the upper middle class, who need part-time or occasional care, or who don’t want to bother with slow, paper-based agencies.
Generations Now Article: Read how we worked with an “elder care on demand company” and learn strategies for pitching investors.
Older Boomers now a sought-after market
Suddenly, technology that targets baby boomers is getting media attention. Amazon’s Echo could displace a lot of elder-app startups. Stitch is a growing social network for Elders. Honor leads a new sector — Uber for elder care.
Senior care franchises are booming
Providing home health aides to older Americans is a fast growing business. Rising labor costs, and shortages of caregivers, however, are eating into profits.
Curated with ♥ by Lisa LaMagna
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