Matej Mikulic
Research expert covering health, pharma & medtech
Long term care - Statistics & Facts
One out of five people in the United States will be aged 65 or older by 2050. That is, the share of old age population in the U.S., is estimated to reach 22 percent by 2050. Like other developed countries, with an aging population, the need for long term care will rise dramatically in the U.S. Long-term care (LTC) provides a range of services and support for people with different personal or health care needs. Individuals requiring low levels of care may only need assistance with housework, shopping for groceries, or managing medication, referred to as instrumental activities of daily living (IADLs). Others may also need help with some activities of daily living (ADLs) such as bathing, dressing, and walking.
Where can long-term care take place?
Long-term care can be offered in the home or in an institutional facility. For patients with a serious disability or chronic health condition, LTC can also be provided in nursing homes, where skilled nursing services are available around the clock. Assisted living and other continuing care communities offer less nursing care, but rather IADLs and residents are generally still highly independent. Inpatient rehabilitation facilities and LTC hospitals are also available for patients of differing needs. Lastly, home health agencies offer in-home care, where most U.S. adults want to stay. Aging in place is also possible when unpaid caregivers such as family members or friends are available.
Cost of long-term care
People in the U.S. are often unprepared for the cost of LTC. In 2022, over half of surveyed adults said it would be impossible for them to pay for the annual cost of 100,000 U.S. dollars for nursing homes should they require it. That is the genuine price, though. In 2023, LTC costs ranged from 64,200 U.S. dollars for a private room in assisted living communities to 116,800 U.S. dollars for a private room in a nursing home. That is the cost for one year of care, yet many need these support for more years. Thus, services users frequently face financial consequences due to LTC, with some even reporting personal bankruptcy from care costs. With increasing prices and increasing number of users, how will the country deal with the financial burden and capacity limits of the long-term care industry?
