- Bathing
- Dressing
Whether you’ve experienced a long-term care event with a family member or friend, have started to think about retirement expenses or are just curious about the topic, one of the wisest things anyone can do to prepare for their financial future is learn about long-term care services long before they’re needed. Knowing and understanding the choices puts you in a better position to make informed decisions and avoid stress if care is needed.1
There’s information all over the internet about long-term care and care in general. The OneAmerica Financial® long-term planning guide provides insights to help navigate long-term care before, during and after it's needed. We created this resource to help you answer questions, ease concerns and find information in these areas:
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Planning for long-term care
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Long-term care considerations
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Adjusting to long-term care
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Long-term care resources
What is long-term care?
Long-term care (LTC), also known as extended care, is intended to provide support for those qualified as chronically ill who may need assistance performing Activities of Daily Living (ADLs), or who have cognitive impairment. Long-term care includes a range of services and support that help meet personal and medical needs, including:
- Eating
- Continence
- Toileting
- Transferring
No one wants to think about experiencing a long-term care event, but planning now for possible care needs later can allow your family and friends to care about you—instead of having to care for you.
Life expectancy
2x
average life expectancy between 1800 and 20172
Likelihood of needing care
Almost a 56%
chance of someone turning age 65 today and needing long-term care (LTC) in their remaining years3
Cognitive issues
Nearly 7 million
Americans are living with Alzheimer's disease. By 2050, that number is expected to nearly triple4
Common types of long-term care
Long-term care facilities cover a wide range, from skilled nursing homes to memory care centers. Below are some of the most common types of long-term care.
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Informal care
- No specialized knowledge or physical intervention required
- Needs can be met by family or friends
- In the comfort of either their own home or that of a loved one
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Home health care
- Medical and nonmedical services
- Assistance with Activities of Daily Living
- In the comfort of either their own home or that of a loved one
- Performed by licensed professionals
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Adult day care
- Care and companionship for older adults
- Offers relief for family members and caregivers
- On-site at a licensed facility
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Assisted living
- For people who need help with daily care, but not as intensive as in a nursing home
- Independent living with common areas
- Meals, medical services, personal care, and housekeeping services available
- On-site in a licensed facility with 24-hour assistance available
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Nursing homes
- Focused on medical care
- Meals, medical services, personal care and housekeeping available 24 hours a day
- On-site in a licensed facility
Next up: Planning for long-term care
1. While this guide provides insights to help navigate long-term care before, during and after it's needed, if you have a long-term care policy, please be sure to verify your specific policy provisions and definitions to make informed decisions.
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Upon clicking these links, the content you are going to is not controlled, reviewed or approved by, and is not the responsibility of, the website that you are leaving.
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Upon clicking these links, the content you are going to is not controlled, reviewed or approved by, and is not the responsibility of, the website that you are leaving.
Provided content is for overview and informational purposes only and is not intended as tax, legal, fiduciary, or investment advice.