Will You Need Long-Term Care? Here’s What Retirees Must Know

Retirement is often imagined as a time of peace, travel, and well-earned rest. But there’s a growing reality that many retirees are not ready to face: the likelihood of needing long-term care. Whether due to aging, chronic illness, or unexpected disability, the need for help with daily tasks like dressing, bathing, or taking medications becomes increasingly common with age.

And here’s the surprising part—most people are completely unprepared for it.

As America’s population gets older, the demand for long-term care is rising fast. By 2035, the number of adults aged 85 and older is expected to nearly double. These are the years when help at home often transitions from a convenience to a necessity. 

Unfortunately, just as the need grows, the availability of affordable care and qualified caregivers is shrinking.

In 2024, the price of many long-term nursing care services jumped by 10 percent, far outpacing inflation. A private room in a nursing home now averages over $10,000 a month, and even in-home services can run upwards of $6,000 monthly.

What’s driving these increases? 

A serious shortage of direct care workers, for one. Wages remain relatively low for these demanding jobs, and immigration policies have reduced the inflow of caregivers. 

Nearly 28 percent of long-term care workers are immigrants, and fewer are entering the workforce each year. At this rate, providers simply won’t have the staff to meet the coming demand.

There’s also a major misconception about who pays for long-term care. Medicare, while a lifeline for many older adults, doesn’t cover ongoing help with daily activities. It only covers short-term stays in a skilled nursing facility after a hospital stay, and even that is limited.

Medicaid does cover long-term care, but it’s only available to those with very low income and few assets. That leaves many families stuck in the middle: earning too much to qualify for Medicaid, but not enough to self-fund years of care.

Long-term care insurance used to be the answer, but fewer companies offer it today, and policies are often expensive and complex. 

Hybrid insurance options that combine life insurance with long-term care benefits are gaining some ground, but they still require a significant upfront investment.

The best time to plan for long-term care is before you need it. Experts recommend having serious conversations with family members about how care should be handled and who might be able to help. 

Financial planning should include setting aside funds specifically for long-term care, particularly for couples who want to avoid leaving a surviving spouse financially strained.

Those with health concerns may want to plan for two to three years of care, while individuals with a high likelihood of longevity might consider up to five. The right approach varies by individual, but the one constant is this: waiting too long to prepare almost always makes things more difficult and more expensive.

In the face of rising costs and limited facility space, many families are turning to in-home care. Not only does this option often cost less, but it also allows individuals to age in place.

Home health care providers help with everything from medication management to personal hygiene and meal preparation, making them an ideal solution for those who want to stay independent while still receiving necessary support. And in areas like New York, where long-term care costs can be especially high, choosing home-based care can offer both financial and emotional relief.

At Revival Home Health Care, we understand that preparing for long-term care can feel overwhelming. That’s why we’re here to offer guidance, support, and trusted home health care in New York that puts your family’s needs first. Whether you’re planning ahead or facing an urgent need for in-home assistance, we’re ready to help.

Get in touch today to explore personalized care options, clarify what services are covered, and discover how we can help you or a loved one age with dignity and comfort.