Long Term Care

Long Term Care

Protect Your Independence and Financial Security

Long Term Care Insurance

What are the Chances of Needing Long Term Care?

Research indicates that one in two Americans will need long term care services.1

How Much Does Long Term Care Cost?

Long term care services are very expensive, and the need for care may last for several years or longer. Home health care varies widely in cost depending on the type and frequency of care received. Assisted living care averages $36,096 per year and exceeds $54,000 per year in some facilities. Nursing home care averages over $68,000 for a semi-private room, over $76,000 for a private room, and easily exceeds $100,000 per year in some parts of the country.2 Costs are continually increasing due to inflation.

Long Term Care Services

People of All Ages Need Long Term Care Services.

Long term care is not just for those who are older. Younger people need these services due to illnesses, physical disabilities, and injuries from automobile and sporting accidents.

Who Pays for Long Term Care?

Most long term care expenses are paid with personal or family assets. Neither traditional medical insurance nor Medicare pays for most long term care services, and Medicaid does not pay unless the individual qualifies for welfare assistance.

With the modern day advancements in health care and medical technology come the changing needs for long term care recipients. People are living longer than ever before with cancer, heart disease and stroke; once known as the killer diseases. The aging of America has also created more potential for mental disease such as dementia and Alzheimer’s. To 80% of older adults, the preferred place of choice to receive long term care services due to these and other ailments is in their home or a community setting such as an assisted living facility, or adult day care.2
1 Phyllis Shelton, Long Term Care, Your Financial Planning Guide, LTCI Publishing, 2007.
2 National Clearinghouse for Long-Term Care Information, U.S. Dept. of Health and Human Services,
September, 2008.
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