The Growing Need for Senior Care in Edmonton
As is the case worldwide, the senior population in Edmonton is growing, with an estimated 13% of the total population aged 65 and over. Projections show that one in five residents of Alberta will be at least 65 years old by 2046, which makes senior care insurance in Edmonton a high priority.
While Edmonton is ranked as being the fourth most affordable city in the world, with an average monthly cost of living of $1,928, the average monthly cost of long-term senior residences in the Alberta province is between $2,000 and $3,000. More upscale options can cost up to $5,000 a month.
For many Edmonton residents, long-term care is an inevitable part of aging. According to estimates, 70% of adults aged 65 and over will require long-term care at some point in their life. The growing senior population and cost of care in the Alberta province and throughout Canada are driving up the demand for senior care in Edmonton. Facilities involved in providing this care must safeguard their businesses to ensure that they can safely and efficiently meet this growing need.
Creating a Plan for Senior Care Insurance in Edmonton
Our senior care insurance specialists can assist long-term care organisations in the following ways.
Manage Risk
Our senior care professionals can help with risk management solutions tailored to your particular organisation's needs:
- Assessment and management of ongoing risks
- Access to a variety of top insurance options
- Consultations for clinical, environmental and property risks
- Formation and management of captive programmes
Evaluate Current Programmes
As you work to optimise your senior care insurance in Edmonton, our specialists can assist you with an evaluation of your existing programmes in the following ways:
- Achieve acceptable claims resolutions
- Identify deficiencies and gaps in current programmes
- Improve efficiency of administration
- Evaluate and optimise current senior care insurance
How We Can Help Senior Care Organisations
We have the expertise and technological tools to bring your senior care plans to the next level. Consider the following advantages that we can offer your Edmonton area organisation.
Protection Against Risks
We can provide the support you need to address the common risks that accompany senior care facilities. We offer a comprehensive review for regulatory compliance and to identify gaps in coverage.
To improve safety, we can offer proactive programmes on workplace violence prevention and assist with safety compliance, technology protection and emergency response planning. In case of accidents, we can support you with increased workers' compensation costs and patient lawsuits that allege abuse or accidents.
Solutions to Challenges
We understand the challenges you currently face and can help you to forecast and prevent those coming down the road. Our experts can assist with solutions for the following:
- Property insurance to safeguard your physical assets
- Liability coverage for general liability, cyber threats, environmental issues and management coverage
- Employee benefits to attract and retain quality staff while protecting your bottom line
- Medical malpractice coverage