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Northwestern Mutual

You're likely to need long-term care, so plan now

According to the government, 70 percent of people turning age 65 can expect to use some form of long-term care during their lives. The vast majority of the care they receive -- 80 percent -- comes from unpaid caregivers (generally family members or friends). In fact, a whopping one in four adults (more than 65 million people) acted in this capacity in 2009, spending an average of 20 uncompensated hours a week caring for someone.

Those who require more care than family members can address -- and who have limited resources -- may qualify for coverage through Medicaid, which is a joint federal and state program that helps pay for certain health services. If you qualify for Medicaid,...