Did You Know? Long Term Care

Did You Know? Long Term Care

Long Term Care Insurance (LTCi) is a range of services and supports you may need to meet your personal care needs. LTCi is not medical care, but rather assistance with the basic personal tasks of everyday life sometimes referred to as “Activities of Daily Life” or “ADLs”.

Did you know…

  • More than 70% of people age 65+ will require long-term care services during the course of their lives?
  • As of 2014, the average length of stay at a nursing home was more than 2 years? And 20% will need long-term care for over 5 years?
  • As of 2014, the average daily cost of staying in a nursing home is over $250, which means that staying in a nursing home could cost over $90,000 per year?
  • On average, women live 5 to 10 years longer than men and therefore are more likely to need long-term care?
  • Roughly 4% of Americans required long-term care in 2007, and that number is expected to increase more and more.

Long-Term Care needs and services vary dramatically, and without proper planning could put you or a loved one in an extremely challenging emotional and financial situation.

Source: Harris-KojetinL,SenguptaM,Park-LeeE,ValverdeR.Long-termcareservicesintheUnitedStates:2013overview.
NationalCenterforHealthStatistics.VitalHealthStat3(37).2013.

Published On: May 25, 2016|Categories: Weekly Update|

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