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Long-term Care - an overview

Long-term Care - an overview

August 04, 2023

An overview of Long-Term Care

As the Baby Boom Generation continues to age, the need for Long-term care is expected to substantially grow from currently levels. As a follow up to my last blog post, I thought I’d provide an overview of just what long-term care is.

Basic Services

Long-term care refers to a range of services and support provided to individuals who have chronic conditions that limit their ability to perform daily activities. Long-term care can be essential for older adults who may require assistance as they age and face health-related challenges.

These services are designed to help individuals maintain their quality of life and independence while receiving the assistance they need, and can be provided in various settings, including nursing homes, assisted living facilities, and in the individual's own home.

Additionally, individuals with chronic conditions or disabilities may need help managing their conditions effectively. The need for long-term care can arise due to factors such as physical limitations, cognitive decline, or a lack of support from family members or caregivers.

Activities of Daily Living

One of the primary goals of long-term care is to aid with activities of daily living (ADLs). ADLs include tasks such as bathing, dressing, eating, toileting, and transferring. Depending on an individual's needs, services may also include medication management, physical therapy, occupational therapy, and social and recreational activities.

Options for Care

There are different options available for long-term care, and the choice depends on the individual's needs and preferences.

  • Nursing homes are generally suitable for individuals who require round-the-clock medical care and supervision.
  • Assisted living facilities provide a combination of housing and supportive services to individuals who need assistance with ADLs but do not require intensive medical care.
  • Home care services allow individuals to receive assistance in the comfort of their own homes, maintaining a sense of independence and familiarity.

Paying for Care

As I wrote last week, financing long-term care can be a significant concern for many individuals and families. The costs associated with long-term care can be substantial and can vary depending on the type of care and the geographic location.

Long-term care insurance is an option that can help cover the expenses of long-term care services, but it is essential to plan and purchase such insurance well in advance, as it becomes more challenging to obtain as one gets older or develops health issues.

As the population continues to age, the demand for long-term care services is expected to increase. This presents both challenges and opportunities for healthcare systems and policymakers to develop sustainable and accessible long-term care solutions.

Long-term care plays a crucial role in supporting individuals with chronic illnesses, disabilities, or limitations in performing daily activities.

It encompasses a range of services designed to maintain individuals' quality of life and independence.

The choice of long-term care options depends on the individual's needs and preferences.

Financing long-term care can be a significant concern, but careful planning ahead of time can help individuals and families prepare for these expenses.

Michael P Henderson, CFP® CKA®

Founder – Crossover Point Advisors



Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Crossover Point Advisors, an SEC Registered Investment Advisor and separate entity from LPL Financial

Content in the material is for general information only and not intended to provide specific advisor or recommendations for any individual.