The U.S. Census Bureau projects that the number of people requiring nursing facilities, alternative residential care places, or home healthcare services will increase from 15 million in 2000 to 27 million by 2050. As Baby Boomers reach retirement age, the nursing home industry increasingly needs to look to the future and address its casualty insurance exposures with key questions such as: What are my insurance options? Am I big enough to self-insure? What are the advantages and disadvantages of retaining risk? This article discusses strategies for nursing homes in dealing with these and other critical questions.
This article was originally published in the September, 2014 issue of Captive Review.
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Preparing for the boomers
As Baby Boomers reach retirement age, the nursing home industry increasingly needs to address its casualty insurance exposures with the seven key questions posed in this article.