7 Eye-Opening Statistics About New Jersey Long-Term Care

Long-Term Care

Long-Term Care (LTC) is any type of care intended to meet both medical and non-medical needs of individuals struggling with some form of disability, most often brought on through the aging process. It can be administered in numerous types of venues such as skilled nursing facilities, adult daycare facilities, or even in the individual’s home.  

Most of us will be forced to deal with the need for and cost of Long-Term Care at some point in our lives, whether for our own needs or for those of a loved one. Below we have detailed seven eye-opening statistics about Long-Term Care in the state of New Jersey as well as the US as a whole. These statistics should emphasize the importance of proper financial and practical planning for any and all potential future LTC needs. If you have questions, want to learn more, or need LTC legal guidance through an Estate Planning Attorney, contact the Matus Law Group today!

Statistic #1) According to the AARP, the number of New Jersey residents aged 85 and older is set to increase by 70% by 2030. What does this mean? It means that thanks to medical and technological advances, Americans are living longer than ever. The older we get, the stronger the likelihood that we will at some point become disabled and have a need for Long-Term Care. Long-Term Care needs are shifting from a possibility to a probability, and Americans must plan appropriately with this change in the previously established paradigm.

Statistic #2) Various estimates put the current average daily cost of private pay skilled nursing facilities in New Jersey at upwards of $280 or more. This is one of the highest rates in the country.

Statistic #3) According to the NJ State Department of Banking and Insurance, the current average length of stay in a Long-Term Care facility is 2.5 years. Combine that with the previously mentioned statistic of $280/day for private pay nursing facilities, and you can potentially expect hundreds of thousands of dollars in order to fulfill your future Long-Term Care needs.

Statistic #4) The US Department of Health and Human Services (HHS) states that a person turning age 65 today has a 70% chance of needing some form of Long-Term Care services in his or her lifetime. That’s more than two-thirds of all Americans, and based on the first statistic we listed you can anticipate that number to continue to rise.

Statistic #5) HHS also states that women—who have longer life expectancies than men by around 5 years—on average will spend much more time in Long-Term Care than men. Women can anticipate approximately 3.7 years in Long-Term Care, while men will spend an average of 2.2 years. Thus, women must plan for significantly more expenses when it comes to LTC planning.

Statistic #6) On average, 8% of people between the ages of 40-50 have a disability that may require Long-Term Care. This HHS statistic demonstrates that, while primarily utilized by seniors, anyone may develop a need for LTC services in their lifetime.

Statistic #7) As of 2012, according to the Centers for Disease Control and Prevention (CDC), New Jersey had the highest rate in the country for enrollment in adult day services, meaning adult daycare intended to help relieve the burden on caregivers providing at-home LTC services. At a rate of 12 individuals enrolled per 1000, New Jersey triples the average national rate of 4 individuals per 1000.

All of these statistics demonstrate that no matter your age, it is absolutely vital that you make plans for your potential future Long-Term Care needs. There are numerous tools available to help ensure you can afford the medical care you require as you age without being forced to sell off all of your assets, leaving nothing for your loved ones when you pass. Contact the Matus Law Group today to learn about your Long-Term Care planning options.

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Christine Matus

Christine Matus