...WESTMOUNT RETIREMENT RESIDENCE The Case: Costing analysis and pricing schedule. The Company: Westmount Retirement Residence (WRR) was established in 1997 as 125 unit retirement residences. It is located in London, Ontario. The Issue(s): A pricing model that reflected both the size of suite inhabited and the level of medical care and service required by each individual patient. The Analysis: WRR has 75 studios of 400 sq ft each, 35 one bedroom apartment of 500 sq ft each and 15 two bed room apartments of 600 sq ft each. It is facing increased local competition from three competitors (Exhibit-3). WWR targeted residents over the age of 75, which was further divided into segment of independent supportive residents and second were assisted living residents. WWR employed 31 employees and in addition 15 student were acquiring clinical and managerial experience. The administrator is not clear on how much each service offered was truly costing, and therefore charged each resident the same price per month regardless of their needs. In the past, the majority of patients demanded similar services, and therefore this pricing and costing system was appropriate. However, with demographic changes to the population, some residents required intense medical care, while others were healthy and fit and required less care. Its competitors like Chelsey Park Retirement Community offered patients with intense medical assistance purchase of nursing and medical support while...
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...The average life expectancy in MEDCs is rising. This is due to: * improvements in health care and medicine * increased leisure and recreation time * improved knowledge about the importance of a balanced diet and regular exercise * improved living standards and quality of life Birth rates in MEDCs are falling as people choose to have smaller families later in life. Contraception is easily available and well understood. An ageing population * As people live longer, the structure of a population changes. * Many MEDCs are now experiencing a significant increase in the number of elderly people as a proportion of the population. * As birth rates fall and people have smaller families, the number of young dependants is falling and the number of elderly dependants is rising. * In the near future this will mean that there are fewer economically active people to support the elderly population. * To try to balance out an ageing population, some countries adopt a pro-natalist policy - that is, they encourage people to have more children by offering them benefits, such as access to childcare and maternity leave. * a cash incentive of £675 monthly (nearly the minimum wage) for a mother to stay off work for one year following the birth of her third child * the 'carte famille nombreuse' (large family card), giving large reductions on train fares * income tax based on the more children the less tax to pay * three years paid parental leave...
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...is essential. Often Foreign Service families only have short visits during R & R or on home leave and hate to spend the precious time with their parents talking about serious business or unpleasant possibilities. Or we may be caught up in hectic preparations for an overseas assignment and not want to take the time to do contingency planning with parents. While it is difficult to discuss the issues of aging, the family who has discussed the options and agreed on plans will be better able to handle whatever happens. It will be worth the time taken, if there is an emergency. The ideal situation is when the parents take control of their own situations and make decisions in advance of an emergency. They should investigate the types of retirement options and decide which is most appropriate, make informed decisions about life-sustaining medical care, and make sure that documents, instructions, and powers of attorney are available to those who must take responsibility in an emergency. The American Association of Retired Persons recommends that elderly people use a document locator list (scroll to bottom of this page) to make sure their papers are in order. This list can then be given to the person(s) who will be responsible for them should an emergency arise. Going through the list with your parents should ensure that their wishes are understood. Communicating with Elderly Parents Talking with our elderly parents about their living situations and...
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...The Inevitable Future Retirement and Social Security issues have become local, national, and international concerns that will also affect each of us on a personal level. Social Security benefits began in 1935 when the depression hit and put many elderly people out of work (http://ssa-custhelp.ssa.gov). Social Security has been around for over 70 years providing a dependable monthly income with automatic increases as the cost of living increased. The Social Security Administration reports that workers need 70-80 percent of pre-retirement income once retired and Social Security only provides about 40 percent (www.ssa.gov). The depletion of funds is becoming a great concern and is also getting worse with each generation. Social security reaches almost every family and will have an impact on the lives of many Americans. Today, about 54 million people receive these types of benefits (http://en.wikipedia.org/wiki/Social_security). It has been said that if changes aren’t made, in 2037 there will not be enough funds to pay the same benefits people are earning today (www.msnbc.msn.com). Some changes include; payroll tax increase, benefits of young workers being cut, and general revenues may have to be used. Some causes of this financial trouble is that people are living longer, birth rates are low, and baby boomers are close to retirement. Baby boomers have been at blame since reproduction has decreased, affecting money paid into Social Security which is what pays the retired...
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...As adults the transition into old age can be difficult for some people. Frustration, lack of responsibility, and dependence can make the process of aging very hard for some. Old age should be viewed as another phase of life, but not the end of life. In order to help elderly cope with aging, it is important for them to have social interaction. Support from family, friends and the local community can also make a difference in the way they view their lives. For my paper I interviewed two different types of adults. I interviewed a 60 year old female, and an 80 year old male. Much of the information that I found was relatively the same even though the participants came from different times. I found that health was the biggest worry about the future and the biggest immediate concern of both participants. After spending an afternoon interviewing my participants, I gained insight into how they perceive the aging process and the impact on the quality of their life. First, they viewed aging in a very positive and healthy manner. They believe that a positive attitude assists in accepting physical and psychosocial changes and enjoyed the fact that they are both physically fit and cognitively alert. They felt confident that advances made in health care and the quality of their lives would continue to be empowering. They enjoy the benefits of being a senior citizen including discounted travel, free education, and other incentives marketed towards seniors When it comes to the health...
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...Laws Governing the National pension scheme in Ghana The National Pensions Act 2008 is the prevailing law governing the pension scheme in Ghana. This law was passed to provide for pension reform to replace the then cap 30 and SSNIT law (Social Security and National insurance trust Law) which used to be the Law governing the pension scheme. The National Pensions Act, 2008 was to introduce a contributory new three-tier pension scheme. The Act state that the first tier provides a mandatory basic national social security scheme, a mandatory fully-funded and privately managed Provident fund and personal pension scheme as the second tier and a voluntary fully funded and privately managed provident fund and personal pension scheme. The first tier is managed by The Social Security and National Insurance Trust, the second and third tier is privately managed by approved trustees appointed by the Pensions Regulatory Authority with the assistance of Pensions Fund managers and custodians registered by the Authority. The second tier is an occupational pension scheme aimed at giving contributors higher lump sum benefits than the then SSNIT OR CAP 30 PENSIONS SCHEME. The third tier, apart from being voluntary provident fund and personal pension schemes is supported by tax benefit incentives to provide additional funds for workers who want to voluntary contributions to enhance pension benefits as well as workers who are not in the formal sector. It is not mandatory. Section 5 article 1 of...
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...Compensation Strategies Table of Contents Executive Summary 3 Introduction 5 Research Findings 6 Health Benefits 6 Retirement Planning 7 Employee Rewards and Incentives 8 Recommendations 10 Conclusion 11 References 12 Executive Summary We need to re-evaluate our current employee package. Our compensation strategy needs an entire tune-up. We do not offer competitive benefits that will entice the type of employees we want working for our company on a long-term basis. A new, improved, and luring employee benefit package will help set us apart from our competition. Our current benefits policy includes: Paid vacation for salaried employees only after 1 full year of continuous service, paid sick days for salaried employees only after 1 full year of continuous service, medical and dental only to all employees after 6 months of continuous service, holiday dinner for corporate employees and their spouse/domestic partner. We can improve these areas and add some other options to our current employee package, Our current health benefits are through an HMO, which is the best option at this time. Perhaps in the future when we have become a 500+ employee company we can look at the other option, a PPO coverage with an additional option to include an HSA account. Our current HMO plan provides coverage with a small co-payment and a 20/80 % coverage with a $1000 annual deductible. The only way I can see right now to...
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...The 5 challenges face to HRM in today’s market is: i. Workplace Diversity According to Thomas (1992), dimensions of workplace diversity include, but are not limited to age, ethnicity, ancestry, gender, and etc. Employers in industry sectors like manufacturing or labor intensive industries are facing difficulties in attracting young people. They resort to hiring foreign workers instead of retirees, who are often fully trained and capable of productive work. ii. Cultural Change Cultural changes define as attitudes, beliefs, values, and customs of people in society are integral part of their culture. Employers will high percentages of older employees have begun to feel the impact of lost talent as Baby Boomers near retirement age of 55 and above. Their concerns are exacerbated by fewer employees from younger generation who are keen to work in routine or mundane jobs with unattractive salary packages. Sometimes, it is no longer the “work hard” but the “work easy” attitude for the young ones. iii. Aging Workforce According to Society of Human Resource Management (June 2003), aging workforce is survey of human professional revealed that management varies greatly in their opinion with age ranging being between 40-70 years. It will increase risk of losing important corporate knowledge that exists only in minds of select few if knowledge management systems are not in place to capture and codify their knowledge. iv. Technology Technology is making, modification, usage...
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...Overtaken by Age?-Ageing Nations When nations are changing because its population grows old... By Stephanie Scherzer M2Di interational Fashion and Management Semester 4 Overtaken by Age?Ageing Nations AGE OvERTAKES uS ALL; OuR TEMPLES FIRST; THEN ON O’ER CHEEK AND CHIN, SLOWLy AND SuRELy, CREEP THE FROSTS OF TIME. uP AND DO SOMEWHAT, ERE THy LIMBS ARE SERE. THEOCRITuS, “THE LOvE OF THyONICHuS” When nations are changing because its population grows old... The world’s fertility rate declines. Less people have children and if they have, then just in very low numbers. The fertility rate is the number of children a woman can expect to have. Half as many children as in 1955 are being born today (The Economist Oct 2011). After WW II there has been a steep surge in birth rates. These so called Baby Boomers, children born after 1946, are retired by now. Altogether they form a big group of not-working people against a becomingsmaller working group. Another reason why the working force is getting smaller is that the age for young people of entering the labour market is getting higher because of increasing education length. The chart shows that the following nations have more than 10% decline in workforce population; Switzerland, the Netherlands, Austria, Hungary, Italy, Portugal, Poland, South Korea, Russia, Japan and Germany. Furthermore the growing life expectancy and the falling birth rates since 1970 contribute to the ageing of our today’s society. This downturn will not...
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...Welcome to WritePoint, the automated review system that recognizes errors most commonly made by university students in academic essays. The system embeds comments into your paper and suggests possible changes in grammar and style. Please evaluate each comment carefully to ensure that the suggested change is appropriate for your paper, but remember that your instructor's preferences for style and format prevail. You will also need to review your own citations and references since WritePoint capability in this area is limited. NOTE: WritePoint comments are computer-generated writing and grammar suggestions inviting the consideration and analysis of the writer; they are not infallible statements of right/wrong, and they should not be used as grading elements. Also, at present, WritePoint cannot detect quotations or block-quotes, so comments in those areas should be ignored. Please see the other helpful writing resources in the Tutorials and Guides section of the Center for Writing Excellence. Thank you for using WritePoint. Vulnerable Paper [This title could be more inspiring. Labeling it a "paper" or an "essay" is redundant (what else could it be?), and only a few words as a title are not very explanatory (or intriguing to the reader). An ideal title has between six and a dozen words ] -Part ll Legy George HCS/531 May 7, 12 Doris Chimera Vulnerable Population- Part ll ...
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...Social Security and Retirement in the United Stated Com156 Date Social Security and Retirement in the United States It is important to plan for retirement because Social Security alone will not cover all of our needs by itself. I will also explain the need for another source of income other than Social Security. Social Security alone will not be enough to cover one’s needs when he or she retires simply because there is no one that can survive off less than $2000.00 a month. The way the government is borrowing from Social Security and the way it has been projected, some believe there will be no more Social Security in years to come. This is why every adult in the United States should start planning when they are younger for their retirement. Social Security is a program that was developed to ensure that people of retirement age will have money to live off of when they do decide to retire. This program was created in 1935, and was called “the system of old age benefits.” In 2007, the Social Security Administration had a net worth of about 785 billion. The expenses that year were about 594 billion dollars. The year of 2007 had 49 million people that received benefits. It is said that by the year 2018, negative effects on the federal budget are going to be experienced. The government has borrowed millions of dollars from Social Security, $159 billion in 2004 to be exact, and that is not the only time it has happened. According to the Social security...
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...INTRODUCTION It is obvious that we are faced with an aging population. Within three decades individuals aged 65 years or older are expected to make up 23% of the Australian population (Australian Bureau of Statistics, 2013). This is a stable increase from 13% in 2007, emphasising Australia as an aging country (Australian Bureau of Statistics, 2013). This is evident not only within the demographic regions of metropolitan and rural cities and towns of Australia but also among other countries in the world. It is with this discrepancy that presents such a large challenge within the population and from a health perspective. This essay will explore the social, cultural and psychological health related issues linked with growth in the aging population and will focus on the baby boomer generation and the co-morbidities that are notably prevalent in the elderly. This essay will also consider the future role of the nurse and how their profession will be impacted in response to these trends. WHY DO WE FACE AN AGING CRISIS? As fertility rates decline and longevity increases we are coming to face a shift in population distribution with a greater proportion of older adults (Anderson and Hussey, 2013). It is important to note that this increase is due particularly to the Baby Boomer generation growing older and associated aging co-morbidities on the rise. The Baby Boomer generation consists of those born from the years 1945-1964 (Berman et al., 2012). As this generation grows older...
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...today’s society. Among the changes comes their incapability to care for themselves, finance, housing, and retirement. Social change happens when people in this age group are faced difficulties to the lifestyle changes that take place. There are some who lose their partners, and become despondent, the loss of friends, and becoming isolated from others. Most times that older adults become less independent they have to live with other family members, and this can cause them to be less likely to interact with others. This causes change in daily routines, and also causes them to feel a burden on family members. These changes can also make for a transition into other types of living conditions. Most people in this stage of their lives elect to live in places where their independence is intact. They choose to live in assisted living facilities, nursing homes, or retirement homes so that they can maintain some sort of independence. Health care is also an issue, because some are in need of care that requires them to have home nursing services. These can be achieved by living in a place where health care can be maintained. In this age group it is important to have regular check-ups, and see a doctor to treat, and prevent medical issues. Adjusting to retirement makes for many changes that takes place in the life of a person in late adulthood. Some feel that the beginning of retirement may feel as if they were taking a vacation, but after time goes by it changes. There are some problems...
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...straight!!! 1. As a career politician, you have been on the public dole (tit) for FIFTY YEARS. 2. I have been paying Social Security taxes for 48 YEARS (since I was 15 years old. I am now 63). 3. My Social Security payments, and those of millions of other Americans, were safely tucked away in an interest bearing account for decades until you political pukes decided to raid the account and give OUR money to a bunch of zero losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would make Bernie Madoff proud. 4. Recently, just like Lucy & Charlie Brown, you and "your ilk" pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age, 67. NOW, you and your "shill commission" are proposing to move the goalposts YET AGAIN. 5. I, and millions of other Americans, have been paying into Medicare from Day One, and now "you morons" propose to change the rules of the game. Why? Because "you idiots" mismanaged other parts of the economy to such an extent that you need to steal our money from Medicare to pay the bills. 6. I, and millions of other Americans, have been paying income taxes our entire lives, and now you propose to increase our taxes yet again. Why? Because you "incompetent bastards" spent our money so profligately that you just kept on spending even after you ran out of money. Now, you come to the American taxpayers...
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...In the Disney movie Up, a young boy scout named Russell meets an elderly, adventurous man named Carl. While Russell was trying earn to get his Assisting the Elderly badge Carl decides to embark an trip to South Africa he had been planning for years. The pair now has to learn how to get along, overcome the obstacles they face and most importantly bridge the age gap between them(Docter). Throughout this trip Russell's perspective of the elderly changes dramatically and he has a new found respect. The way America treats their elderly people varies greatly from other countries. In America we treat the elderly as if they are disposable. Instead of taking our mothers and fathers into our home to take care of them, we place them in retirement communities and nursing homes. Most nursing homes are filled with horrific stories. It is a known fact that nursing homes are understaffed. Our loved ones do not get the proper treatment they deserve and ninety percent of nursing homes fail federal inspections for health and safety (Henslin, 384). Elder abuse usually goes hand in hand with nursing homes but it can also take place in the family's home. Elder abuse includes mental, physical, sexual and financial abuse. In other countries like China it is a son's duty to take care of this mother. The elderly mother will live in the biggest room of her sons' house, he will cook her special meals and take her to her medical appointments. This is how the elderly should be treated. In China elderly...
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