Long-term care, or "LTC," refers to insurance, programs, and services geared toward helping older adults with the basic activities of daily living.
Certain activities – such as getting out of bed or walking down a flight of stairs – can become challenging as we age. When this happens, people often find that actions they once took for granted have become physically and emotionally draining.
What Is Long Term Care?
Long-term care services provide older adults with a way to stay healthy and active and meet their basic living requirements. The need for long-term care may be temporary – such as during recovery from illness or injury. It can also be ongoing due to a persistent physical condition or dementia.
Proper long-term care planning (and knowing what services are available) may include help with the following activities:
- Personal care
- Assistance with medical therapy
- Drug administration
- Meal preparation
- Money management
- Bill paying
- Running errands
- Minor repairs
- Pain management
Having a plan when things start to get difficult can take pressure off loved ones and caregivers. It can also allow older adults to live in their own homes longer or have greater independence for as long as possible.
Types of Long-term Care Options
There are many types of long-term care options, depending on the needs and resources of the recipient. Older adults who require help with their physical or emotional needs may obtain services at any of the following locations:
- In a nursing home (including skilled nursing, intermediate care, and custodial care)
- In the home of the person receiving care
- In the home of a family member or friend
- In an assisted-living residence
- At an adult day services
Who Needs LTC?
There are no set criteria for those who may require long-term care. It is most often needed by adults over 65 but is also available to younger adults.
People under age 65 may have a chronic illness, disability, or other health condition. Young adults may require assistance with basic daily living tasks.
Factors that may increase or decrease your chances of requiring LTC include:
- Gender (women generally live longer than men and need LTC assistance more often)
- Marital status (single people often require more help than a married person)
- Eating habits
- Smoking, drinking, or drug use
- Health history
- Chronic health diseases
Long-Term Care Costs
You can expect nursing home care or any long-term care facilities to be expensive. A 2021 Cost of Care Survey by Genworth found these averages:
- Private rooms in a nursing home cost $9,000 per month
- Semiprivate rooms cost $7,900 per month
Who Pays for LTC?
Most people with long-term care needs receive unpaid help from family and friends. This includes multigenerational care from adult children or even grandchildren. Family members are sometimes forced to leave their work to help care for an aging parent or grandparent.
Medicare pays for long-term care in many settings, including a nursing home or home care.
Other means of paying for long-term care may include:
- Personal savings
- Veteran's benefits
- Reverse mortgages
- The Programs of All-inclusive Care for the Elderly (PACE)
Long-Term Care Insurance Basics
Long-term care insurance can sometimes help pay for health care over a certain time. However, health insurance policies often require medical screens and are generally limited to people between 50 and 84. The premiums can also make insurance a difficult option.
If their terms better fit your situation, there are also short-term care insurance options like Aetna, Medico, or MedAmerica.
If you have legal questions about programs or older adult law concerns, talk to an attorney to figure out the right next steps.