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Facts about the Long-Term Care Market

  • Seniors represent the fastest growing age group in the United States. It is projected that the 75+ population will increase 70 percent by 2025.
  • At least 70% of people over 65 will need long-term care services and support at some point in their live
  • The average length of a nursing home stay is 835 days—or more than two years
  • At a median daily rate of $240, an average nursing home stay of 835 days currently costs over $200,000, making it virtually unaffordable for many Americans.
  • Alzheimer’s disease and dementia alone afflict four million Americans, a figure expected to increase 350 percent by 2050 if no cure is found.
  • By 2040, the Centers for Medicare & Medicaid Services predict a 250 percent increase in government spending alone.
  • Approximately 16,000 licensed nursing facilities in the United States serve 1.4 million residents.
  • The number of seniors living in assisted living residences is 800,000.
  • The number of Americans residing in continuing care retirement communities is 725,000.
  • Adult day centers provide care for 150,000 older Americans each day.
  • The majority of long-term care facilities provide multiple levels of care services.
  • By the year 2020, 12 million older Americans will require long-term care services.

Source: Long-Term Care Management magazine / 2019 Medicare & You, Centers for Medicare & Medicaid Services