Many people wrongfully assume that long-term care insurance is simply nursing home insurance for the elderly. However, nearly 80% of people who receive long term care do so in their own home. Unfortunately, there are numerous situations that might cause you to get into an accident or develop a serious illness that makes it impossible for you to care for yourself for an extended period of time. Having a good long-term care policy means that you can get the high quality care you need in the setting of your choice. If you are still unsure about getting a long-term-care policy, you should consider these 15 facts from the U.S. Department of Health & Human Services.
Long-Term Care Fact #1
70% of people over the age of 65 will need long-term care at some point in their lives.
Long-Term Care Fact #2
Women tend to outlive men by 5 years, and therefore, are more likely to live alone when they’re older.
Long-Term Care Fact #3
Medicare does not cover unskilled help with Activities of Daily Living, which accounts for most long-term care services.
Long-Term Care Fact #4
Women (3.7 years) tend to need long-term care longer than men (2.2 years) do.
Long-Term Care Fact #5
20% of people who are age 65 today, will need long-term care support for 5 or more years.
Long-Term Care Fact #6
80% of long-term care at home is provided by unpaid caregivers who spend at least 20 hours a week with a patient.
Long-Term Care Fact #7
58% of long-term care caregivers have intensive responsibilities, such as assisting with a person’s bathing or feeding needs.
Long-Term Care Fact #8
8% of people between the ages of 40 and 50 have a disability that could potentially require long-term care services.
Long-Term Care Fact #9
69% of people age 90 and above have a disability.
Long-Term Care Fact #10
Chronic conditions such as diabetes and high blood pressure increase the chances that you will require long-term care.
Long-Term Care Fact #11
On average, the cost of a home health aide service is $21.50/hour.
Long-Term Care Fact #12
On average, the cost of an assisted living facility is $123/day or $3,750/month.
Long-Term Care Fact #13
The cost of adult day health care services is an average of $70/day.
Long-Term Care Fact #14
Semi-private room nursing home care costs an average $235/day or $7,148/month.
Long-Term Care Fact #15
Private room nursing home care costs an average of $267/day or $8,121/month.
As you can see, most of these long-term care services are expensive, and can exhaust all of a person’s resources if they become ill or suffer a serious injury. If you are thinking of purchasing a long-term-care insurance policy, you should call (888) 451-0883 to get help from our friendly Atlanta insurance administrators. We can discuss your situation and find a policy that covers all of your needs.