How Much Care Will You Need

The duration of long-term care will vary from person to person and often change over time.  Here are some statistics that you should consider:

  • Someone turning age 65 today has almost a 70% chance of needed some type of long-term care services and supports in their remaing years.
  • Women need care longer (3.7 years) than men (2.2 years)
  • One-third of today's 65 year-olds may never need long-term care support, but 20 percent will need it for longer than 5 years.
  • Niether private health insurance, Medicare nor your Medicare supplement will pay for long-term "custodial care" – help with mobility – when it is the only type of care you need.
  • The cost of long-term nursing home care today averages $40,000 per year, per person.  With inflation, that could rise to $97.000 annualy by 2030.
Peter Madine - Financial Consultation
  Distribution and Duration of Long-Term Care Services
The table below shows that overall, more people use long-term care services at home (and for longer) than in facilities.
  Long Term Care