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Long-Term Care Planning Guide

A guide to understanding and navigating long-term care at every step.

Mature couple sitting at the breakfast table using a computer tablet.

Whether you’ve experienced a long-term care event with a family member or friend, have started to think about retirement expenses or are just curious about the topic, one of the wisest things anyone can do to prepare for their financial future is learn about long-term care services long before they’re needed. Knowing and understanding the choices puts you in a better position to make informed decisions and avoid stress if care is needed.

There’s information all over the internet about long-term care and care in general. The OneAmerica Financial® long-term planning guide provides insights to help navigate long-term care before, during and after it is needed. We created this resource to help you answer questions, ease concerns and find resources in these areas:

  • Planning for long-term care

  • Long-term care considerations

  • Adjusting to long-term care

  • Long-term care resources

Woman reading folder at desk in living room

  • What is long-term care?

    Long-term care (LTC), also known as extended care, is intended to provide support for those qualified as chronically ill who may need assistance performing Activities of Daily Living (ADLs). Long-term care includes a range of services and support that help meet personal and medical needs, including:

    • Bathing: the ability to maintain personal hygiene
    • Dressing: the ability to select appropriate clothing for weather or occasion and get dressed independently
    • Eating: the ability to get food from plate to mouth, and to chew and swallow (does not include meal prep)
    • Continence: the ability to control one's bladder and bowel function
    • Toileting: the ability to get on and off the toilet
    • Transferring: the ability to move from one place to another (e.g., bed, chair)
    • Cognitive Impairment: the inability to remember basic tasks and act appropriately.

No one wants to think about experiencing a long-term care event, but planning now for possible care needs later can allow your family and friends to care about you - instead of having to care for you.

Life expectancy

2x

Average life expectancy between 1800 and 20171

Likelihood of needing care

almost 70%

Chance someone turning age 65 today has of needing long-term care (LTC) in their remaining years2

Cognitive issues

Nearly 7 million

Americans are living with Alzheimer's disease. By 2050, that number is expected to nearly triple3

 

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Common types of long-term care

Long-term care facilities cover a wide range, from skilled nursing homes and memory care centers to retirement communities. Below are some of the most common types of long-term care.

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    Informal care

    • No specialized knowledge or physical intervention required
    • Needs can be met by family or friends
    • In the comfort of their or their loved ones home
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    Home healthcare

    • Medical and non-medical services
    • Assistance with cooking, cleaning, and other household chores
    • In the comfort of their or their loved ones home
    • Performed by licensed professionals
  • High angle view of unrecognizable Japanese female caregiver having fun with a smiling elderly patient in the nursing home.

    Adult day care

    • Care and companionship for older adults
    • Offer relief for family members and caregivers
    • On-site at a licensed facility
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    Assisted living

    • For people who need help with daily care, but not as much as a nursing home would provide
    • Independent living with common areas
    • Meal, medical, personal care, and housekeeping services available
    • On-site in a licensed facility with 24-hour assistance available
  • Side view of happy female caretaker assisting senior woman in nursing home

    Nursing homes

    • Focused on medical care
    • Meal, medical, personal care, and housekeeping services available 24 hours a day
    • On-site in a licensed facility

Next up: Planning for Long-term care

Provided content is for overview and informational purposes only and is not intended as tax, legal, fiduciary, or investment advice.