According to a new report of the United State Department of Health and Human Services, about 70% of today's 65-year-olds need some form of long-term care. The health department has stated that about 20% people will it for about five years.

The long-term care could mean day and night supervision a caregiver dropping by to help with personal care and other tasks.

Associate director of the retirement income program at The American College, Jamie Hopkins, said, "Not enough people have some plan in place. It's a lot of self-funding and relying on family members and Medicaid".

Before taking a long-term care, it is necessary to consider some things like 'knowing the options'. A long-term care can change widely that could consists the services an individual requires to handle daily activities or rehabilitation which extends beyond three months.

These services are provided at an assisted living facility or at home with the aid of a caregiver. The services could be given in a nursing home too.

According to Chris Orestis, CEO of Life Care Funding, an assisted living facility doesn't accept health care programs like Medicare and Medicaid. On the other hand, nursing homes include a range of services like 24-hour supervision. People having Medicare could pay for these services, but those who have Medicaid with annual income limits can also pay for the services.

'Consider the costs' is another thing that one should consider when preparing for the possible financial burden of long-term care. According to the health department, a nursing home's private room could cost an average of $6,965 a month in 2010, and rent of a semi-private room could be about $6,235 per month.

Apart from that, an individual should understand health care programs such as Medicare, Medicaid. Medicare pays for long-term care in the case if doctor prescribes rehabilitation or other skilled services. On the other side, Medicaid pays for a wider scope of long-term care services.