Q. On a national basis, how many people will need long term care, who provides it and how much how much on average does it cost?
A. The national statistics concerning long-term care are as follows:
Who needs long-term-care?
Nearly 70 percent of Americans who reach the age of 65 will need some form of long-term care in their lives for a period of three years or longer. Currently, almost 12 million Americans are currently in need of long-term-care and support. This figure is estimated to increase to 27 million in 2050.
Who provides long-term-care?
Informal caregivers provide 80% of all long-term care services; 61 percent are women. Medicaid covers approximately 62% of total long-term care spending.
How much does it cost?
Nearly $220 billion per year for paid caregiving compared to an estimated $450 billion per year for unpaid caregiving. Nursing home care average cost: $81,030 for a semi-private room and $90,520 for a private room per year.