PACE Supports the Long-Term Care of Older Adults in the United States
Understand How the Cost of PACE Services Depend on Income and Assets
Research in 2023 found that many retirees’ biggest fear is outliving their assets.
If you are a senior who is experiencing this fear, it’s important for you to understand how PACE (Programs of All-Inclusive Care for the Elderly) provides for eligible seniors, and how that care—and how you pay for it—differs depending on your income and assets.
This chart illustrates that if a PACE participant’s income does not exceed $1839/mo, and they have no more than $2000 in assets, all PACE services are included for those individuals.
How PACE Supports Seniors Long-Term
As the demand for long-term services and support for seniors grows in the United States, PACE offers a comprehensive and integrated approach to care.
- Holistic Care Coordination:
PACE provides a single point of coordination for various healthcare services, including medical, social, and long-term care. This ensures a holistic and personalized approach to meet the unique needs of each participant.
- Cost-Effective Alternative:
By offering a cost-effective alternative to nursing home care, PACE helps retirees manage their healthcare expenses more efficiently. This is particularly beneficial for those concerned about the financial implications of long-term care.
- Community-Based Care:
PACE services emphasize community-based care, allowing retirees to receive necessary support while remaining in their homes. This not only promotes independence but also helps in preventing premature moves to more costly care facilities.
- Integrated Health Services:
PACE integrates medical and social services, providing a comprehensive solution that addresses both health and social determinants of well-being. This proactive approach can contribute to better health outcomes and potentially reduce the need for expensive emergency services.
- Prevention and Early Intervention:
Through regular assessments and monitoring, PACE focuses on prevention and early intervention, helping to address health issues before they escalate. This approach can lead to better health outcomes and potentially reduce long-term care costs.
- Tailored Support for Caregivers:
PACE recognizes the vital role of caregivers and provides support services, including respite care and education. This assists retirees and their families in managing care responsibilities without compromising their financial stability.
In summary, PACE services support retirees by offering a comprehensive, community-based, and cost-effective approach to long-term care. By addressing both health and social needs, PACE contributes to improved quality of life for retirees and helps alleviate concerns about outliving their assets in an era of growing demands for senior services in the United States.