Long-term care financing: Ensuring financial protection in long-term care

Financial protection in long-term care (LTC) is important because the vast majority of people are unable to save enough money to meet the high costs of accessing needed LTC services as they age.

Women and low-income people are disproportionately affected by the costs of LTC. Women are more likely to reach older ages, experience care needs for a longer duration and lack resources for care. Those who are poor and those in ill health may have higher care needs that correspond to higher payments.