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Long-Term Care Quotes
Hopefully, the following quotes will persuade you how important
planning for long-term care is for you and your family.
- Life expectancy has doubled in the last 200 years. In frontier
America, only 1 out of 10 people could expect to see age 65.
Today...80% of Americans will live past 65. Currently, there are 34
million people over 65; 12% of the population. By 2030, 68 million
will be over 65. In 1990, there were 54,000 people age 100; by 2000,
there will be 108,000.
Can't Afford to Grow Old, Walter Cronkite, WNET, 1989
- The fastest-growing segment of the elderly population consists of
women over age 85.
Health Insurance Association of America, "Long-Term Care
Needs, Costs and Financing," 1992
- Every day, for the next 18 years, 10,800 people will turn age 50.
"The Power of Cohorts," American Demographics,
December, 1994, p.22
- Ten percent of seniors have children who are seniors.
The Aging of America; The Dilemma of Long-Term Care;
Corniche Productions Ltd, 1992
- Life expectancy for men is 80 years, for women 84 years. By 2040;
86 for men and 92 for women.
National Institute on Aging, Davidson of National Institute of
Health form AGEWAVE, Ken Dychtwald, 1990
- Average life span for an Alzheimer's patient is 3-20 years.
Statistical Data on Alzheimer's Disease, Alzheimer's Association,
1992
- Average expense of Alzheimer's patient is $214,000, and only
$14,000 is reimbursable by Medicare or other insurance.
American Journal of Public Health, August 1994 p.
1261-1264.
- What are the odds? There's a 1 in 1200 chance of someone's house
burning down. A 1 in 240 chance of being involved in a serious auto
accident. A 1 in 4 chance of someone over 65 needing long term-care
for 1 year or more.
Life Insurance Selling magazine, December 1992
- The general population perceives the risk of needing long-term
care services to be less than 25%. The actual risk of needing
long-term care (nursing home or home care) is greater than 50%.
"Who Buys Long-Term Care Insurance?" 1994, 1995
- Two-thirds of all single people and one-half of all married
couples are impoverished after only one year in a nursing home.
Can't Afford to Grow Old, Walter Cronkite, WNET, 1989
- Two-thirds of nursing home cases are three years or less, but
about 21% of those who enter nursing homes at age 65 or older will
have a total lifetime nursing home use of five years or longer.
"Lifetime Use of Nursing Home Care," Peter Kemper, New
England Journal of Medicine, Feb, 1991, p. 595
- Cost for nursing homes will at least triple in the next 20 years.
"Projected Needs of the Aging Baby Boomers", U.S.
General Accounting Office, June, 1991, p.12
- Average annual cost nationally for nursing home care is about
$38,000 or $105 per day for total cost including room and board,
drugs and medical supplies.
"Facts and Trends", 1995, American Health Care
Association, p. 56
- An eight-hour shift for home health aid is not far behind at about
$90 a day.
Based on competitive surveys of Home Care Affiliates, Louisville,
KY
- 47% of people over age 85 have some type of dementia, most
commonly Alzheimer's.
"Prevalence of Alzheimer's Disease in a Community Population
of Older Persons; Higher Than Previously Reported," Journal
of the American Medical Association, November 10, 1989 p. 2551
- Ten percent of Americans receiving long-term care are under 65.
"Gaining Marketing Insights From the Ohio Long-Term Care
Insurance Survey," Robert Atchley, Journal of the American
Society of CLU, September 1994, p. 66
- Women today will spend more time providing elder care than they do
for their own children.
AGEWAVE, Ken Dychtwald, PhD, and Joe Flower, Bantam Books,
1989
- University of CA study predicts elder care will replace child care
as the #1 dependent care need in the next century, as 1 out of 3
workers will be caring for an aging parent.
USA TODAY, July 19, 1994, p. 1
- Home health care expenditures, 1993: Medicare 39.1%, Medicaid
15.5%, Patients and Families Out of Pocket 20.8%, Private Health
Insurance 12.1%, Other Private 12.1%, Other Public .5%.
EBRI Issue Brief, "Long-Term Care and the Private
Insurance Market," Number 163, July 1995, 17.
- Medicare is the source of payment for more than 70% of people in
nursing homes!
American Health Care Association, "What Consumers Need to
Know About Private Long- Term Care Insurance"
- Unless you have long-term care insurance, qualify under limited
conditions for Medicare coverage, or become poor, you will pay out
of your savings for nursing home services.
American Health Care Association, "What Consumers Need to
Know About Private Long-Term Care Insurance"
- A study by the U.S. Department of Health and Human Services
indicates that people of age 65 face at least a 40% lifetime risk of
entering a nursing home. About 10% will stay there 5 years or
longer.
HIAA, Guide to Long-Term Care Insurance 1996
- Because women generally outlive men by several years, they face a
50% greater likelihood than men of entering a nursing home after age
65.
HIAA, Guide to Long-Term Care Insurance 1996
- A 1995 Harvard/Louis Harris survey found that one in five
Americans over age 50 is at risk of needing long-term care services
during the next 12 months.
Long Term Care Awareness Survey: A national public opinion
survey conducted by Harvard School of Public Health and Louis Harris
& Associates. Released Jan 6, 1996; 2
- In 1994, approximately 7.3 million elderly Americans needed LTC
services. Experts predict this number will jump to nearly 9 million
by the turn of the century. With the baby boom generation aging,
estimates are that the number of people needing LTC service will
increase to between 10 and 14 million by 2020 and 14 to 24 million
in 2060.
U.S. General Accounting Office Report to Congressional
Requestors. "Long-Term Care: Diverse, Growing Population
Includes Millions of Americans of all Ages." 1994:4
- Research finds that Medicaid Expenditures would be reduced by
$7945 to $15,519 for every nursing home entrant who had an LTC
insurance policy.
Cohen, Marc A., "Long-Term Care Insurance and
Medicaid." Data Watch. Fall, 1994; 134
- The average American man can expect to spend $56,895 on long-term
care. The average woman will spend $124, 370. Private health
insurance policies offer limited, if any, coverage for long-term
care services. As a result, it can take only months--or mere
weeks--from the time a person needs long-term care until they are
forced onto Medicaid by the depletion of personal resources.
Wooldridge, Wilfred E, "Why Nursing Home Insurance?" Missouri
Medicine. October 1991:88
- The sandwich generation--adults caring for both young children and
elderly parents-- often is stretched to the limit. Such pressure can
affect performance in the workplace, resulting in lost productivity.
- People who prepare for the cost of long-term care can be secure in
the knowledge that they have greater freedom to choose their care
and that their assets (and the assets of spouses/families.) are more
secure
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