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Facts
Nearly four out of 10 people age 75+ lived alone in 2005, and more than onehalf of people age 65+ lived at or below 300% of poverty, an income level that places them at risk of needing public assistance.
Source: AARP Public Policy Institute, Profiles of Long-Term Care 2006
With medical costs on the rise and generations of people living longer, it’s important to plan ahead so you can live the life you want for you and your family. The average cost of nursing home care is approximately $50,000 per year, and most health insurance plans, as well as Medicare, do not cover long term care costs. Long term care provides temporary or permanent assistance for those affected by a chronic illness or disability, mental impairment or injuries resulting from an accident.
Care could involve daily or periodic skilled nursing or rehabilitative care or custodial supervision—personal care to assist with the activities of daily life, defined as bathing, dressing, eating, continence and transferring, such as from a bed to a chair. Sources for payment for those without Long Term Care insurance may include personal savings and assets, assistance from family and Medicaid.