In recent years Long Term Care insurance has grown in popularity. There are obvious reasons for the interest the public has shown in long term care plans. Millions in the baby boomer generation are faced with the long term care issues of their parents. As a result, the baby boom generation is coming to terms with planning for their own long-term care needs.

There is a great body of data that is available concerning long-term care trends. Some of the more obvious facts concerning long term care are:

1. Long term care costs are high. Nursing home costs can range $100 to $200 per day, $36,000 to $60,000 per year.
2. Home health care costs provided by a semi-skilled aide can run from $5,000 to $10,000 per year.
3. Skilled care nursing visits can run well over $12,000 per year.

As we age, our chances of needing a nursing home stay increases. For males over 65 years of age, there is a 15% chance of having a nursing home stay of 3 months or less. For females over 65, there is a 28% chance of a nursing home stay for 3 months or less.

The majority of nursing home stays are relatively short; 50% of all admissions are for less than 90 days. However, for nursing home stays of one year or more, 5% are for males over 65 and 8% are for women over 65 years of age. As our population lives longer, there is a greater chance that more people will spend a greater duration in long-term care settings.

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