Buckalew Financial Services

What is Long-Term Care and Who Needs It?

Long-term care is a range of services and support that are provided to individuals who require assistance with activities of daily living (ADLs) due to a chronic illness, injury, or disability. It is designed to help individuals maintain their independence, quality of life, and dignity, and may include assistance with tasks such as bathing, dressing, eating, and using the bathroom.

Long-term care can be provided in a variety of settings, including at home, in a community-based setting, or in a long-term care facility such as a nursing home. The type of care that is needed and the setting in which it is received will depend on a variety of factors, including the individual’s physical and cognitive abilities, their support network, and their financial resources.

Who Needs Long-Term Care?

The need for long-term care can arise at any time in a person’s life, but it is most commonly required as people age. The National Institute on Aging (NIA) estimates that 70% of individuals over the age of 65 will need some form of long-term care in their lifetime.

However, the need for long-term care is not limited to the elderly. Individuals of any age who have a chronic illness, injury, or disability that affects their ability to perform ADLs may also require long-term care. This may include individuals with conditions such as dementia, Parkinson’s disease, multiple sclerosis, or spinal cord injuries.

The Importance of Planning for Long-Term Care

Long-term care can be expensive, and the cost of care can quickly add up over time. For this reason, it is important to plan for long-term care needs in advance, so that individuals and their families can ensure that they have the resources they need to receive the care they need.

There are a number of options for paying for long-term care, including private insurance, Medicaid, and out-of-pocket expenses. It is important to understand the options and to make informed decisions about the best way to pay for long-term care, taking into account factors such as income, assets, and eligibility for government programs.

In conclusion, long-term care is a critical component of overall health and well-being, and it is important for individuals and their families to understand the options available and to plan for this type of care in advance.