6. More than 50% chance of long-term care need

It is only human to think that you will never need long-term care. However, there is a strong possibility that you will need long-term care at some point in your life. “While the general population perceives the risk of needing long-term care services to be less than 25%, the actual risk for needing long-term care (either home care or nursing home care) is greater than 50%.” LifePlans, Inc.,” in The LTC Planning Guide by Phyllis Shelton, January, 2001.

“Who is at risk for long-term care? Is it just older people? “
While there are many older people that need long-term care, young people can need long-term care, too. Forty per cent of the people who need long-term care are between the ages of eighteen and sixty-four. Some everyday reasons that young people can need long-term care are: cancer, multiple sclerosis, strokes, Parkinson’s disease, and accidents, to name just a few.

“I don’t see myself in a nursing home.”
The good news is that a nursing home is probably the last place you will have to go. There are so many more options that were not available before. It is now possible to stay at home or live in an assisted living facility, rather than go to a nursing home. Most people are more realistic about foreseeing the need for long-term care at home.

“82% of long-term care takes place in the home, adult day care centers, and assisted living facilities. 18% of long-term care takes place in nursing homes.” (“Agency for Health Care Research and Quality,” Sept.2000, in The Long-Term Care Planning Guide, 2001, by Phyllis Shelton)