- In 2010 nursing home care cost averaged about $230 a day or about $83,950 a year in California. Source: California Partnership for Long Term Care, 2010.
- At least 3 in 4 Americans are either uninsured or underinsured for long term care.
Source: The LTC Guild, 2010.
- Among people age 65 and older, 30% have three or more chronic diseases.
Source: Connie Limon, Aging and Longevity – Can Our Economy and Health Care System Survive Aging Baby Boomers? July 9, 2007.
- Nearly 79% of people who need long term care live at home or in community settings rather than in institutions.(Source: The State of Aging and Health in America, 2004. Merck Institute of Aging and Health.)
- The main causes of long term care are Alzheimer’s, stroke, circulatory disease, injury and cancer. Source: The 2010 (Source: book for LTCI Information. American Association for Long Term Care Insurance, 2010.)
- Of those who enter a nursing home, 44% will stay at least one year and 12% will remain longer than five years. (Source: California Partnership for Long Term Care, 2010.)
- Long term care insurance reduces a person’s chances by 66% of having to spend down his or her savings to the point of impoverishment to qualify for Medicaid assistance. Helping You Take Care. (Source: America’s Health Insurance Plans, 2009..
- The average cost for a home health aide or homemaker in San Francisco, Los Angeles, and San Diego is at least $23 per hour.(Source: The 2010 Sourcebook for LTCI Information. American Association for Long Term Care Insurance, 2010.)
- The long term care insurance industry is proud of its record of paying nearly 97% of all claims submitted. Helping You Take Care. (Source: America’s Health Insurance Plans, 2009)
- 66% of long term care insurance claims are paid to women. The 2010 Sourcebook for LTCI Information. (Source: American Association for Long Term Care Insurance, 2010.)
- 62% of long term care insurance applicants between ages 40 and 49 qualified in 2009 for good health discounts, but only 46% of applicants between ages 50 and 59 qualified.(Source: The Sourcebook for LTCI Information. American Association for Long Term Care Insurance, 2010.)
- If you meet Medicare requirements, Medicare will only pay the full cost of skilled nursing home care up to the first twenty days of a covered stay and then only a small part of the bill for the next eighty days. (Source: Taking Care of Tomorrow. California Department of Aging.)
In general, the annual premium for long term care insurance more than doubles from age 50 to age 60 in a California Partnership policy and more than triples from age 55 to age 65.