Long-Term Care

Times are changing.

An American born today has a projected life span of almost 20 years longer than one born in 1925¹. Longevity presents unique challenges and the longer we live the greater the risks associated with aging become. There are lifestyle and financial security concerns with longer retirements and an increased likelihood of illnesses, mental impairments, and injuries that come with longevity. With a higher life expectancy the probability that we will need long-term care services in the future has also risen dramatically. Having a discussion with your family and planning for the possibility of needing long-term care is more important and relevant than ever.

What is long-term care?

Also known as extended care, it involves a number of services to help people compensate for limitations in their ability to function independently. While health insurance covers more immediate acute care needs, long term care is care that is expected to last beyond 90 days. It differs from traditional medical care because it primarily focuses on assisting people in maintaining their level of functioning through progressive conditions, cognitive decline, and general aging as opposed to the recovery and treatment of short duration illnesses. Data from the U.S. Department of Health and Human Services shows about 70% of Americans over 65 will require some kind of long-term care services for an average of three years.

Reference:
1. Carstensen Laura L. The New Age of Much Older Age. TIME Magazine Special Edition, The Science of Living Longer. Nov. 2019: 4.