One thing is for certain – the assisted living industry is growing! What started out as a 44 residence industry in the early 1990’s has blossomed into a 260+ residence industry (with more buildings in development). A 2016 survey sponsored by our Mass-SALC Foundation determined that assisted living contributes over $5 billion annually to the Massachusetts economy – and that doesn’t include construction costs. Since more than ninety percent of seniors in assisted living pay for their housing and services privately, assisted living reduces the demand for increasing Medicaid budget expenses.
Additionally, assisted living is helping to meet a critical need as the senior population of Massachusetts continues to grow. Not only are there increasing numbers of seniors living longer and needing assistance with their activities of daily living, the basic health needs of seniors entering assisted living is a growing concern, especially if the senior lives alone. Living in a residential community like an assisted living residence offers safety and high quality life experience and combats loneliness and depression. As a result of this growth, assisted living is on the forefront of policy makers’ minds now more than ever.