{"id":2705,"date":"2018-10-03T09:16:19","date_gmt":"2018-10-03T09:16:19","guid":{"rendered":"http:\/\/www.ltccs.com\/?p=2705"},"modified":"2022-03-25T19:22:04","modified_gmt":"2022-03-25T19:22:04","slug":"long-term-care-statistics-2018","status":"publish","type":"post","link":"https:\/\/ltcally.com\/articles\/long-term-care-statistics-2018\/","title":{"rendered":"Long-Term Care Statistics You Need to Know in 2018"},"content":{"rendered":"<h1>Long-Term Care Statistics You Need to Know in 2018<\/h1>\n<p>If you operate a nursing home or other long-term care facility in the United States, your primary concern is to care for your senior residents and their families. However, finances are the lifeline of your facility, so you need adequate revenue to pay the bills and still make a profit at the end of the day. Consider these long-term care statistics that relate to your business.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf\" target=\"_blank\" rel=\"noopener\">52 percent<\/a> of people\u2014<a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf\" target=\"_blank\" rel=\"noopener\">47 percent<\/a> of men and <a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf\" target=\"_blank\" rel=\"noopener\">58 percent<\/a> of women\u2014who reach age 65 will need long-term care in their lifetime.<\/li>\n<li><a href=\"https:\/\/www.alz.org\/alzheimers-dementia\/facts-figures\" target=\"_blank\" rel=\"noopener\">10 percent<\/a> of Americans over age 65 have Alzheimer\u2019s disease. This increases to <a href=\"https:\/\/www.alz.org\/alzheimers-dementia\/facts-figures\" target=\"_blank\" rel=\"noopener\">33 percent<\/a> among people ages 85 and older. <a href=\"https:\/\/www.alzheimers.net\/8-12-15-why-is-alzheimers-more-likely-in-women\/\" target=\"_blank\" rel=\"noopener\">Two-thirds<\/a> of Americans with Alzheimer\u2019s are women.<\/li>\n<li>The average length of time spent in long-term care is two years (<a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf\" target=\"_blank\" rel=\"noopener\">2.5 years<\/a> for women and <a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf\" target=\"_blank\" rel=\"noopener\">1.5 years<\/a> for men). Only <a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf\" target=\"_blank\" rel=\"noopener\">14 percent<\/a> of people need long-term care for five years or more.<\/li>\n<li>As the US population ages, the number of people needing long-term care is on the rise. As a result, long-term care expenditures skyrocketed from <a href=\"https:\/\/www.cbo.gov\/publication\/19669\">$30 billion<\/a> in 2000 to <a href=\"https:\/\/www.cbo.gov\/publication\/19669\" target=\"_blank\" rel=\"noopener\">$225 billion<\/a> in 2015.<\/li>\n<li>The median yearly cost for weekday adult day care is <a href=\"https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf\" target=\"_blank\" rel=\"noopener\">$18,200<\/a>.<\/li>\n<li>The median yearly cost for assisted living care is <a href=\"https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf\" target=\"_blank\" rel=\"noopener\">$45,000<\/a>.<\/li>\n<li>The median yearly cost for nursing home care is nearly <a href=\"https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf\" target=\"_blank\" rel=\"noopener\">$86,000<\/a> for a semi-private room and over <a href=\"https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf\" target=\"_blank\" rel=\"noopener\">$97,000<\/a> for a private room. These figures vary significantly by location. For instance, the average yearly cost for a private room in a nursing home in Monroe, LA is under <a href=\"https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf\" target=\"_blank\" rel=\"noopener\">$52,000<\/a>, while in Manhattan, NY, it\u2019s over <a href=\"https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf\" target=\"_blank\" rel=\"noopener\">$215,000<\/a>.<\/li>\n<li>The median household wealth for adults over age 65 with no disabilities is just over <a href=\"https:\/\/aspe.hhs.gov\/basic-report\/later-life-household-wealth-and-after-disability-onset\" target=\"_blank\" rel=\"noopener\">$263,000<\/a>. As for those with physical or mental limitations, the median household wealth is <a href=\"https:\/\/aspe.hhs.gov\/basic-report\/later-life-household-wealth-and-after-disability-onset\" target=\"_blank\" rel=\"noopener\">$94,200<\/a>.<\/li>\n<li>Unpaid family members and friends provide <a href=\"https:\/\/www.alz.org\/alzheimers-dementia\/facts-figures\" target=\"_blank\" rel=\"noopener\">83 percent<\/a> of all long-term care in America, and <a href=\"https:\/\/www.caregiver.org\/women-and-caregiving-facts-and-figures\" target=\"_blank\" rel=\"noopener\">two-thirds<\/a> of older adults rely exclusively on free care. The estimated economic value of this unpaid care is <a href=\"https:\/\/www.caregiver.org\/caregiver-statistics-demographics\" target=\"_blank\" rel=\"noopener\">$470 billion<\/a> per year.<\/li>\n<li><a href=\"https:\/\/www.caregiver.org\/caregiver-statistics-demographics\" target=\"_blank\" rel=\"noopener\">65 percent<\/a> of unpaid long-term caregivers are female, and <a href=\"https:\/\/www.alz.org\/alzheimers-dementia\/facts-figures\" target=\"_blank\" rel=\"noopener\">25 percent<\/a> of them are in the \u201csandwich generation,\u201d meaning they provide care for their aging parents, as well as their children. Another <a href=\"https:\/\/www.caregiver.org\/caregiver-statistics-demographics\" target=\"_blank\" rel=\"noopener\">34 percent<\/a> are over age 65 themselves.<\/li>\n<li>Medicaid provides care for <a href=\"https:\/\/www.kff.org\/infographic\/medicaids-role-in-nursing-home-care\/\" target=\"_blank\" rel=\"noopener\">62 percent<\/a> of nursing home residents, which covers <a href=\"https:\/\/www.kff.org\/medicaid\/report\/medicaid-and-long-term-services-and-supports-a-primer\/\" target=\"_blank\" rel=\"noopener\">51 percent<\/a> of all long-term care costs. <a href=\"https:\/\/www.kff.org\/medicaid\/report\/medicaid-and-long-term-services-and-supports-a-primer\/\" target=\"_blank\" rel=\"noopener\">20 percent<\/a> of Medicaid\u2019s total funding goes toward paying long-term care, which is expected to increase by <a href=\"https:\/\/www.cbo.gov\/sites\/default\/files\/recurringdata\/51301-2016-03-medicaid.pdf\" target=\"_blank\" rel=\"noopener\">50 percent<\/a> between 2016 and 2026.<\/li>\n<li>In 2000, <a href=\"https:\/\/www.naic.org\/documents\/cipr_current_study_160519_ltc_insurance.pdf\" target=\"_blank\" rel=\"noopener\">125 insurers<\/a> offered standalone long-term care insurance policies. As of 2014, <a href=\"https:\/\/www.naic.org\/documents\/cipr_current_study_160519_ltc_insurance.pdf\" target=\"_blank\" rel=\"noopener\">fewer than 15<\/a> do. Also, only <a href=\"https:\/\/www.naic.org\/documents\/cipr_current_study_160519_ltc_insurance.pdf\" target=\"_blank\" rel=\"noopener\">20 percent<\/a> of businesses with 10 employees or more offer long-term care policies to their workers. Still, the number of people with long-term care insurance has increased from <a href=\"https:\/\/www.naic.org\/documents\/cipr_current_study_160519_ltc_insurance.pdf\" target=\"_blank\" rel=\"noopener\">4.5 million<\/a> in 2000 to <a href=\"https:\/\/www.naic.org\/documents\/cipr_current_study_160519_ltc_insurance.pdf\" target=\"_blank\" rel=\"noopener\">7.25 million<\/a> in 2014.<\/li>\n<li><a href=\"https:\/\/www.aaltci.org\/long-term-care-insurance\/learning-center\/are-you-even-insurable.php\" target=\"_blank\" rel=\"noopener\">14 percent<\/a> of long-term care applicants ages 50 to 59 are denied coverage due to health issues. <a href=\"https:\/\/www.aaltci.org\/long-term-care-insurance\/learning-center\/are-you-even-insurable.php\" target=\"_blank\" rel=\"noopener\">45 percent<\/a> of applicants ages 70 to 79 are denied.<\/li>\n<\/ul>\n<p>With mounting costs, an aging population, and an increasing need for quality, affordable long-term care, you may struggle to manage it all. LTC Consulting can help you cut costs and navigate Medicaid and Medicare reimbursements to boost company profits. With us in your corner, you can focus on providing the best possible care for your senior residents while we oversee every financial aspect with great care and accuracy.<\/p>\n<p><strong>To learn more about LTC Consulting\u2019s health care management services, please <\/strong><strong><a href=\"https:\/\/www.ltcally.com\/contact\/\">contact us<\/a><\/strong><strong> today.<\/strong><\/p>\n<p><strong>Sources:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/www.aarp.org\/content\/dam\/aarp\/ppi\/2017-01\/Fact%20Sheet%20Long-Term%20Support%20and%20Services.pdf<\/a><\/li>\n<li><a href=\"https:\/\/www.alz.org\/alzheimers-dementia\/facts-figures\" target=\"_blank\" rel=\"noopener\">https:\/\/www.alz.org\/alzheimers-dementia\/facts-figures<\/a><\/li>\n<li><a href=\"https:\/\/www.alzheimers.net\/8-12-15-why-is-alzheimers-more-likely-in-women\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.alzheimers.net\/8-12-15-why-is-alzheimers-more-likely-in-women\/<\/a><\/li>\n<li><a href=\"https:\/\/www.cbo.gov\/publication\/19669\" target=\"_blank\" rel=\"noopener\">https:\/\/www.cbo.gov\/publication\/19669<\/a><\/li>\n<li><a href=\"https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/www.genworth.com\/dam\/Americas\/US\/PDFs\/Consumer\/corporate\/cost-of-care\/131168_081417.pdf<\/a><\/li>\n<li><a href=\"https:\/\/aspe.hhs.gov\/basic-report\/later-life-household-wealth-and-after-disability-onset\" target=\"_blank\" rel=\"noopener\">https:\/\/aspe.hhs.gov\/basic-report\/later-life-household-wealth-and-after-disability-onset<\/a><\/li>\n<li><a href=\"https:\/\/www.caregiver.org\/pilotIntegration\/indexPersistent.html?uri=%2Fwomen-and-caregiving-facts-and-figures\" target=\"_blank\" rel=\"noopener\">https:\/\/www.caregiver.org\/pilotIntegration\/indexPersistent.html?uri=%2Fwomen-and-caregiving-facts-and-figures<\/a><\/li>\n<li><a href=\"https:\/\/www.caregiver.org\/caregiver-statistics-demographics\" target=\"_blank\" rel=\"noopener\">https:\/\/www.caregiver.org\/caregiver-statistics-demographics<\/a><\/li>\n<li><a href=\"https:\/\/www.kff.org\/infographic\/medicaids-role-in-nursing-home-care\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.kff.org\/infographic\/medicaids-role-in-nursing-home-care\/<\/a><\/li>\n<li><a href=\"https:\/\/www.kff.org\/medicaid\/report\/medicaid-and-long-term-services-and-supports-a-primer\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.kff.org\/medicaid\/report\/medicaid-and-long-term-services-and-supports-a-primer\/<\/a><\/li>\n<li><a href=\"https:\/\/www.cbo.gov\/sites\/default\/files\/recurringdata\/51301-2016-03-medicaid.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/www.cbo.gov\/sites\/default\/files\/recurringdata\/51301-2016-03-medicaid.pdf<\/a><\/li>\n<li><a href=\"https:\/\/www.naic.org\/documents\/cipr_current_study_160519_ltc_insurance.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/www.naic.org\/documents\/cipr_current_study_160519_ltc_insurance.pdf<\/a><\/li>\n<li><a href=\"https:\/\/www.aaltci.org\/long-term-care-insurance\/learning-center\/are-you-even-insurable.php\" target=\"_blank\" rel=\"noopener\">https:\/\/www.aaltci.org\/long-term-care-insurance\/learning-center\/are-you-even-insurable.php<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Long-Term Care Statistics You Need to Know in 2018 If you operate a nursing home or other long-term care facility in the United States, your primary concern is to care for your senior residents and their families. However, finances are the lifeline of your facility, so you need adequate revenue to pay the bills and <a href=\"https:\/\/ltcally.com\/articles\/long-term-care-statistics-2018\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  Long-Term Care Statistics You Need to Know in 2018<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-2705","post","type-post","status-publish","format-standard","hentry","category-articles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2018 Long-Term Care Statistics | Medicare\/Medicaid Consultants<\/title>\n<meta name=\"description\" content=\"With an aging population, long-term care is more important now than ever. Learn 2018\u2019s most important statistics with LTC Consulting.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ltcally.com\/articles\/long-term-care-statistics-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2018 Long-Term Care Statistics | Medicare\/Medicaid Consultants\" \/>\n<meta property=\"og:description\" content=\"With an aging population, long-term care is more important now than ever. 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