The Basics of LTC and LTC Insurance

We've compiled some background material that might be helpful in answering some of your questions. Of course, if you'd like to move ahead and start talking to an LTC Connects partner about getting a quote instead, we'd be happy to do that, too.

Some interesting facts and statistics about LTC

Most of us have had some experience of a loved one or close friend who needed long term care. A traumatic situation may be the reason you are interested in finding out more. To help give you some perspective on these realities we've compiled some interesting information.

	Long term healthcare facts
	12 million people currently receive long term care 82% are cared for at home or in Assisted Living Only 18% are in nursing homes 39% of those needing long term care are aged 18-64

	Average length of care
	Nursing home	2.4 years
	Home health care	4.5 years
	Life span of an Alzheimer's patient	4.9 years

	Current long term care costs*
	Home Health Care	$18/hour = $66,000/year
	Assisted Living	$85/day = $30,288/year
	Adult Day Care	$55/day = $20,075/year
	Nursing Home	$192/day = $70,080/year

Group Health Insurance and Medicare pay for Skilled Care only, not custodial care. And don't count on Medicaid. Medicaid is part of the welfare system and provides limited options for care. You must meet asset and income spend-down guidelines to meet welfare standards. The government has sent clear messages that Medicaid will no longer be a viable option for long term care planning.