The Risk of Needing Long Term Care

Some people will never need Long Term Care.  Statistics show, however, that by the year 2010, 10 million men and women over the age of 65 will need Long Term Care.  By the year 2020, this number will increase to 15 million.  Of the 70% of elderly people who need Long Term Care, most will be cared for at home by family members and friends as the main caregivers. 

A study by the U.S. Department of Health and Human Services indicates that people 65 years old face at least a 40% lifetime chance of one day needing nursing home care.  About 10% 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 because modern medicine is keeping them alive longer. 

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% of those 85 years old and older are in nursing homes around the country. 

Since women generally outlive men by about five years, they face a 50% greater likelihood than men of entering a nursing home after age 65.  While older people are more likely to need Long Term Care, the need for Long Term Care can come at any age.  In fact, the U.S. Government Accounting Office estimates that 40% of the 13 million people receiving Long Term Care services are between the ages of 18 and 64.