Long Term Care Basics

In Demand

The need for long term care is growing as the average lifespan of Americans continues to lengthen. By the year 2020, one in six Americans will be over the age of 65 and approximately 40 percent of these 65 year olds will live to the age of 90 compared to the mere 25 percent that lived to 90 years of age in 1980. Families are sure to see the need for long term care grow because by the year 2030, the number of Americans aged 65 and older will have doubled to almost 70 million. Today, only 35 percent of Americans depend on their pensions as their only source of income and if Social Security continues its current decline, it will not be able to provide full benefits to retirees. With the number of retirees on the rise and the avenues for financing long term care for seniors shrinking, it is easy to see why proper planning is crucial to the future of most Americans.

Terminology of Long Term Care

As is true of all specialty fields, the realm of long term care has its own set of key terms and concepts that must be understood before a person can effectively communicate with financial advisors, insurance agents, and long term care providers. The term long term care refers to services that are provided to persons for an extended amount of time due to an accident, illness, or chronic condition. These services are provided most notably to retirees who have become unable to take care of their daily needs such as bathing, dressing, exercising, eating, or medicating themselves.

Cognitive Disabilities

Some long term care patients have what are called cognitive disabilities. A cognitive disability refers to the condition that causes a person to forget things, such as medication or directions. Frequently Alzheimer’s is a cause of these cognitive disabilities that effect a person’s memory, judgment, and reasoning.

Care Givers

The term care giver refers to a person who assists an individual in need of help with their daily tasks. There are formal caregivers such as nurses, persons who work in adult day care facilities, as well as other professional care givers who work for agencies or independently. Family members, friends or neighbors that assist the individual in need are considered care givers as well but are considered to be informal care givers.