Long-term care is deeply personal. That’s because many of us will help loved ones as they transition from living independently to needing assistance later in their lives. And most of us will require some sort of long-term care ourselves, whether it’s occasional in-home help or help in an assisted living facility or nursing home. In fact, someone turning age 65 today has almost a 70 percent chance of needing some type of long-term care services and supportsin their later years.
While no one can predict what the future will hold, long-term care insurance helps people prepare for the road ahead. This guide explains long-term care insurance, including, how it works, the types of policies available, and policy pricing. Understanding long-term care insurance equips policymakers, and others working to support families and caregivers, with the knowledge needed to meet Americans’ growing long-term care needs.