Virtually all demographic trends in the United States point to large future increases in the demand for long-term care services and support. By 2050, an estimated 27 million people will need long-term care support.
- The population over 65 will almost double by 2050. The population age 85 or older is set to double between 2015 and 2032, and triple by 2015. This aging population will outpace the number of working-age family members who can help seniors financially or with unpaid care.
- Disability is highly related to age, so the projected growth in the elderly population suggests a large increase in the need for long-term care services. It’s projected that more than half of Americans turning 65 today will have a long-term need for constant attendance, averaging $266,000 per person for about 2 years of serious self-care services. Millions of older adults, approximately 14%, will need services for more than 5 years.
- New generations of American seniors have fewer caregivers and more complex illnesses, each causing more serious disability. Seniors who live longer have longer spells of need and higher financial burden from disability, plus they have less family support.