Long-Term Care

You or your employees may never need long-term care. But statistics show that in 2003, about seven million men and women over the age of 65 will need long-term care. By the year 2005, the number will increase to nine million. By the year 2020, 12 million older Americans will need long-term care. Most will be cared for at home; family members and friends are the sole caregivers for 70 percent of elderly people. But a study by the U.S. Department of Health and Human Services in 2003 indicates that people age 65 face at least a 40 percent life-time risk of entering a nursing home. About 10 percent will stay there five years or longer.

While older people are more likely to need long-term care, your need for long-term care can come at any age. In fact, the U.S. Government Accounting Office estimates that 40 percent of the 13 million people receiving long-term care services in 2003 are between the ages of 18 and 64.

Although long-term care insurance is relatively new, more than 100 companies now offer coverage. Long-term care insurance is generally available through groups and to individuals. Group insurance is typically offered through employers, and this type of coverage is becoming a more common benefit.

At L. S. & Associates we can help you with your long-term care needs.


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