3 in 4 will need more. The problem with living longer...

There's no doubt about it... 
Today's boomers and younger need to take a serious look at this issue.
It is no longer, and hasn't been for a long time, an old person problem.
According to Social Security Administration Actuarial table numbers: At age 30, the decrease between 1900 and 2001 was 83 percent for males and 92 percent for females, reflecting the rapid decline in childbearing mortality experience for females. Over the period 2002-2100, further decreases of 58 and 51 percent for males and females respectively, are projected. http://www.ssa.gov The latest life expectancy insurance charts show that between 2000 and 2012 life expectancy has increased even more. 

What to do is challenging. But I believe everyone over the age of 45 or 50 should be taking a serious look at how to deal with the potential cost.
Why? The simple reason is that people need it. There are a whole lot of baby boomers - about 70 million - who have reached retirement age or are close to it. And according to the U.S. Department of Health and Human Services 70 percent of people who reach age 65 will need LTC services at some point in their lives.  

When most people think about LTC and people with disabilities, they most often think of the older population. However, people of all ages including children and young adults with disabilities may need LTC. The LTC population includes people with a wide range of conditions such as birth defects, developmental disabilities, mental illness, AIDS, Alzheimer’s disease, spinal cord injury, stroke, muscular degeneration, broken bones, surgical recovery, or accident victims. A very significant portion of the disabled population, approximately 45 percent, is under the age of 65. Even within the elderly population, there are different levels of disability. for those over 85 years of age, the disability rate skyrocketed to 52.7 percent. Studies show that individuals suffering from Alzheimer’s disease require, on the average, 6+ years of LTC services.

The number of people needing care is expected to significantly increase over the next 50 years. Because of continual medical advances resulting in the prolonging of life, the chances of having to deal with a disabled family member are much higher now than at any other time in history. In fact, LTC may become an issue that individuals are going to have to deal with as part of the normal course of life. Working Group Report on LTC

None of us expects to end up needing Long Term Care but according to the one non profit organization trying to educate people 3 in 4 will need some care at some point. 
you can contact us for a planning guide or click on the link 3in4needmore.com 

With the cost of nursing home care surpassing $85,000 per year, it's easy to see how most people won't be able to pay for care out of their own pockets. Medicare does not pay for Custodial care and had limited benefit for Skilled Care. According  to a Report of the Working Group on Long-Term Care November 14, 2000 cites that Medicare was never intended to pay for extended LTC and should not be considered as a dependable resource to meet LTC needs and while Medicaid may provide financial resources for certain people who can meet categorical eligibility, income, and resource requirements, it cannot be considered a reliable resource for meeting every American's LTC needs Working Group Report on LTC That makes an LTC planning a valuable addition to your plan for retirement and good way to help pay for the care if needed. 

We assist people with explaining the options available such as leveraging your money. Most often this problem is solved in one of three ways.
1. Traditional or pay as you go insurance. Works well but can be very costly if purchased after mid 50s or early 60s and is subject to underwriting.

2. Asset Based planning made possible by provisions in the Pension Protection Act of 2006

3. Self insuring or setting aside enough cash to take care of future bills. Remember this money can not be invested in a risky way or used as a slush fund for other needs.

When facing a situation where a spouse is in need of long term care, it is best to consult an Elder Law attorney. Some one who specializes in Medicaid planning in order to protect assets for the at home spouse.

This post is for information only and not meant as an inducement to buy or sell LTC insurance. Always consult an advisor when planning.