Intra-Governmental Council on Long Term Care Presented by PathWaysPA Wider Opportunities for Women June 27, 2007 The Elder Economic Security Standard for Pennsylvania

Why the Elder Economic Security Standard? Significant increase in elders will strain mechanisms of support Standard tool used for assessing elders’ economic well-being is deeply flawed. The Elder Economic Security Standard: The new measure of income adequacy allows advocates to push for policy changes that improve living standards and economic security

The Basic Assumptions Considers market costs of independent living – without subsidies Begins at age 65 Assumes elders are retired

The Cost Data: Comparable - Area specific - Accepted Housing Food Health care and status Transportation Other needs

The Elder Standard for a Single Elder, Boston Area, 2006 Monthly Expenses Elder PersonElder Couple Owner w/o Mortgage Fair Market Rent 1BR Owner w/o Mortgage Fair Market Rent 1BR Housing$520$1,128$520$1,128 Food$206 $378 Transportation$16 $32 Health Care = Good$292 $584 20%$207$328$303$424 Elder Standard Per Month $11,241$1,970$1,817$2,546 Elder Standard Per Year $14,890$23,645$21,802$30,557

Elder Standard vs. Other Benchmarks: One Person Household, Boston Area

Elder Standard vs. Other Benchmarks: Two Person Household, Boston Area

The Impact of Long-Term Care at Home in Massachusetts Need for Care LowMedium High with Adult Day Health High w/o Adult Day Health Hours/ Week 6 hrs16 hrs36 hrs Cost/ Month $663$1,729$3,028$3,680 Cost/ Year $7,955$20,753$36,331$44,161

Summary of Findings High housing costs equal one-third to half of total expenses Health care is 2nd largest expense Long-term care can more than double an elder’s expenses

Using the Elder Standard Education Policy and Advocacy Financial Security

Proposed Action Plan Inform  Elders  Legislators  Administration Identify  Gaps  Opportunities

Proposed Action Plan Promote  Legislative/ Administrative Action Change  Future Outlook

Timeline September 2007 Present draft Elder Standard tables for 5 sample counties Examine proposed options for tabulating long-term care costs December 2007 Release final version of The Elder Standard for Pennsylvania

Next Steps/ Comments/ Questions For more information, please contact: Jacquie Patterson: Marianne Bellesorte: Ramsey Alwin