A new study says that 56% of Americans turning 65 will need some form of long-term care.

According to the U.S. Department of Health and Human Services, 1 in 6 Americans is 65 or older.

This assistance can encompass tasks like standing, walking, eating, and showering, and may also involve physical or speech therapy.

However, despite these health challenges, only about 7.5 million Americans have long-term care insurance due to its high cost.

A recent analysis reveals that the annual premium for such care ranges from $1,700 to over $7,000.