Basics - Start here
- 6 min read

Basics - Start here

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In this overview, get the scoop on what long-term care is, who needs it, and who pays for it—plus cameos from Brad Pitt and Maria Shriver.

Intro

You’ve decided to dive into long-term care (LTC). Kudos to you. 🙌🏼

This important topic affects almost everyone, even though most people would rather not think about it.

At Long Term What? we value your time. You can expect fun, practical guidance to help you take action on LTC.

LTC stands for long-term care, but here we also use it as an acronym for some goals: Learn about options, Talk with family, and Create a plan—so care recipients and caregivers can live their best lives. You’ll see these goals pop up throughout the posts.

Get ahead of the game. Dive into these posts, and you'll:

  • Be confident in making the best care decisions
  • Feel more at ease knowing you're financially ready
  • Stay in control when care needs arise

We’ve got lots of posts in our Basics topic. If you'd like a guided tour, just hit the 'next post' button at the bottom of this (and every) post.

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At Long Term What? we sell long-term care insurance from multiple companies. All of our content is free of ads and partnerships, unbiased, and provided at no cost. Learn more about us.

Post jargon

assisted living: a type of residential care that assists with ADLs
CCRC: continuing care retirement community; housing with many LTC services
hospice: end-of-life care (usually under 6 months)
LTC: long-term care
LTCi: long-term care insurance
nursing home: like a hospital, but with fewer doctors and for LTC

➡️ Explore all the LTC jargon

What is long-term care?

Statistically speaking, you'll probably age. Now, you may be thinking, "Yeah, but what about that one guy who got younger over time?"

In our 70s and 80s (and earlier), many of us need help with everyday tasks, like getting dressed and bathing, due to aging or conditions such as dementia. We need caregivers to provide long-term care to help us with these needs.

LTC isn't end-of-life care (that's hospice) or a brief visit to the hospital. Rather, LTC occurs daily for years while you can still live a full life enjoying your friends and family.

Explore more in this post:

What is long-term care?
Learn about ADLs (activities of daily living, like bathing), cognitive impairment, and the other basics of long-term care.


Who needs it?

Surprisingly, a lot of people.

You or a loved one have a whopping 70% chance of needing long-term care at some point.

The reality is that you or a family member will need long-term care. You just don't know when and for how long.

The average person requires 3 years of long-term care. However, Alzheimer’s patients require 8 to 10 years, with some needing up to 20 years.

Odds of long-term care (stats)
Discover the odds of needing long-term care. 70% of seniors require care at some point. Learn about the stats to better prepare.


What about celebrities?

You might ask yourself, "Wait, are celebrities affected by long-term care?"

Well, yes. They're just like us. Watch this 2-minute video to learn how.


Why plan for it?

Long-term care doesn’t just affect the person who needs it—it deeply impacts their family as well. It's important to consider who often takes on the heavy lifting: spouses and kids.

Even with unconditional love, helping someone with everyday tasks—like getting out of the bathtub—can take a significant toll. Every. Single. Day.

Families care deeply for one another, but caregiving is a 24/7 responsibility that can create emotional, physical, and financial challenges. Planning ahead can help ensure that everyone’s needs—both the caregiver’s and the care recipient’s—are supported.

Creating a plan for long-term care
Creating a LTC plan is your “shot” at a good future. Talk about options and write down your decisions.


Where does LTC happen?

Roughly 80% of adults prefer to receive LTC in their homes, but many move to assisted living, nursing homes, or CCRCs as they or their caregivers need more help.

Care - Start here
Get an overview of long-term care options, like home care, adult day care, assisted living, nursing homes, memory care, hospice and CCRCs.


Who pays for it?

If your family doesn't provide assistance, professional care can be expensive. For example, home care averages $64,000 per year (based on 40 hours a week), while a year in a nursing home costs around $117,000.

If these numbers feel like Monopoly money, seriously consider where you'd get $100,000 today for just one year of nursing care. 😬

What about Medicare and that other thing?

  • 🔴 Medicare doesn't pay for long-term care.
  • 🔴 MedicAID only pays if you have severe financial hardship or a disability.
  • 🔴 Private health insurance doesn't pay for long-term care.
  • 🟢 Long-term care insurance pays for LTC.

So LTC is typically funded through personal savings or a long-term care insurance policy.

Costs of long-term care
The high costs of long-term care may make you feel like putting your head in the sand. Learn the details and tools to help.
Medicare and MedicAID in long-term care
These twins aren’t very helpful in paying for long-term care costs.


Long-term care insurance

Long-term care insurance (LTCi) can help cover the costs of professional care if you ever need it. The industry has evolved significantly, offering more options than ever before.

In our insurance posts, we’ll guide you through the differences between traditional and hybrid policies, help you determine if LTCi is the right choice for you, and explore specific policy options.

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Maybe obvious, but you can't buy LTCi after you need long-term care.
Insurance - Start here
Get an overview of how long-term care insurance works, why you might want it, the benefits, costs, and much more.


The Talk

Once you learn about your long-term care options, you can have "The Talk" with your family about caregiving plans. It's both important and super awkward.

Having “The Talk” about long-term care
Discussing long-term care with aging parents is essential for avoiding future stress. Here’s how to start the conversation.


Wrap up

Watch this cute 9-minute video from 2019 about family members discussing long-term care. It's a little long but worth it.

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Genworth made both videos on this post, but we have no affiliation with them. They just make really great videos.

Thanks for taking the first step! Keep reading to feel confident and prepared for any care decisions ahead. 👍🏼