Long Term Care - For the Unexpected

We're all getting older. Record numbers of people are living well into their 80s, 90s...and even past the age of 100. That translates into more time to do the things you want to do, to spend time with the people you love. It also poses new challenges. In aging, you change in some familiar ways - and some ways that might be completely unexpected. In your 60's and 70s, tasks and activities that you once performed routinely or with ease might become increasingly difficult. And, over time, you may need more and more assistance with such activities. You might also experience a sudden, acute need for such help after a debilitating illness - such as stroke.

One recent national survey found that among people who turned 65 in 1990, 47 percent could expect to spend three months or more in a nursing home before they die. About one in four will spend more than one year there.1 On average, nursing home care can cost upwards of $61,000 per year.2 You may be able to manage with at-home nursing care. Yet this option, too can be quite expensive: on average, such services cost over $53,000 per year in the U.S.3 for eight hours of service, 365 days a year.

These figures can be expected to increase over time. As you grow older, the risk that you will need care increases. Since people on average are living longer, all of us face an increased likelihood that we'll be candidates for care services.

1 Lubitz, J. and Spillman, B.C., "New Estimates of Lifetime Nursing Home Use: Have Patterns of Use Changed?" Medical Care, October 2002. 2 2002 Nursing Home Cost Survey, MetLife Mature Market Institute, April 2002. 3 2002 Home Health Care Cost Survey, MetLife Mature Market Institute, April 2002

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