What is long-term care? (LTC)
Insurance is an important tool for protecting
yourself against risk. For instance, health insurance
pays your doctor and hospital bills if you get sick or
injured. But how can you protect yourself against the
significant financial risk posed by the potential need
for long-term care services, either in a nursing home or
in your own home?
Long-term care goes beyond medical care and nursing
care to include all the assistance you could need if you
ever have a chronic illness or disability that leaves
you unable to care for yourself for an extended period
of time. You can receive long-term care in a nursing
home, assisted living facility, or in your own home.
Though older people use the most long-term care
services, a young or middle-aged person who has been in
an accident or suffered a debilitating illness might
also need long-term care.
Beyond nursing homes, there is a range of services
available in the community to help meet long-term care
needs. Visiting nurses, home health aides, friendly
visitor programs, home-delivered meals, chore services,
adult daycare centers, and respite services for
caregivers who need a break from daily responsibilities
can supplement care given by family members.
These services are becoming more widely available.
Some or all of them may be found in your community. Your
local Area Agency on Aging or Office on Aging can help
you locate the services you need. Call the
Eldercare Locator at 800-677-1116 to identify your
local office.
Are you likely to need long-term care?
You may never need long-term care. But about 19
percent of Americans aged 65 and older experience some
degree of chronic physical impairment. Among those aged
85 or older, the proportion of people who are impaired
and require long-term care is about 55 percent. By the
year 2020, 12 million older Americans will need
long-term care. Most will be cared for at home; family
members and friends are the sole caregivers for 70
percent of elderly people. But a study by the U.S.
Department of Health and Human Services indicates that
people age 65 face at least a 40 percent lifetime risk
of entering a nursing home. About 10 percent will stay
there five years or longer.
The American population is growing older, and the
group over age 85 is now the fastest-growing segment of
the population. The odds of entering a nursing home, and
staying for longer periods, increase with age. In fact,
statistics show that at any given time, 22 percent of
those age 85 and older are in a nursing home. Because
women generally outlive men by several years, they face
a 50 percent greater likelihood than men of entering a
nursing home after age 65.
While certainly older people are more likely to need
long-term care, your need for long-term care can come at
any age. In fact, the U.S. Government Accountability
Office estimates that 40 percent of the 13 million
people receiving long-term care services are between the
ages of 18 and 64.
For additional information get your FREE copy of
Guide to Long-Term Care (LTC) Insurance
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