Survey finds most adults cannot afford to save for care when they are older

Commissioner to the department for the aging in New York Lorraine Cortés-Vázquez, HCCI CEO Joseph Musgrave, and Minister for Mental Health and Older People, Mary Butler at HCCI's home care conference today. Picture: Naoise Culhane

Some 60% of adults think they will need care when they are older, but almost three-quarters say they cannot afford to save towards it, the Health and Community Care Ireland (HCCI) conference has heard.

The HCCI, which represents private homecare companies, said the findings show most people are unprepared for the cost of care in old age.

The survey found estimates of potential costs varied with 53% believing they will need to save more than €10,000 per year, but 21% believing between €0 - €4,999 per year is needed.

Some 37% predicted they will live at home with home care support while 22% think they will live close to family with their support.

Only 24% predicted they will live with family members in their old age, and 17% think they will need nursing home care.

Home support hours are usually given to older people in need of help to stay in their own homes.

Over 59% of those surveyed think they will need care as older people although only 46% are saving towards their future care needs, the HCCI said.

Among those who think they will need help, 74% said they cannot afford to save for their future care. Some 23% say they will save when they are older.

HCCI CEO Joseph Musgrave said: “The findings of our study paint a stark picture of how unprepared we are to face the need to care for an aging population and the huge demand for home care support expected.”

He called on the Government to move ahead with long-discussed plans to include homecare access in the Fair Deal scheme — a funding scheme that currently only covers nursing homes.

It is immoral that we keep pushing older people into the Fair Deal scheme and into nursing homes rather than offer them home care

HCCI also highlighted a survey carried out last year by Family Carers Ireland, showing 39% of people on a homecare waiting list had been waiting over two years at that point.

Mr Musgrave called for “new thinking” about how to make caring a more attractive career to help tackle the delays.

The HCCI was recently involved in negotiating a new tender with the HSE for private companies providing care on behalf of the State.

Pay has become an issue as carers in private companies typically have lower wages than carers, known as healthcare support assistants, working directly for the HSE.

There are some areas where the HSE does not operate directly, so carers have no option but to work for a private company or leave the sector.