Long Term Care services can be expensive, and costs vary widely based on where you will be receiving care.

National rates are as follows*:

•The average daily rate for a private room in a nursing home is $203, or $74,095 a year
•The average daily rate for a semi-private room in a nursing home is $176, or $64,240 a year
•The average monthly rate for assisted living facility is $3,061, or $36,372 per year
•The average hourly rate for a home health aid is $19, or a 10 hour day for $190
These costs are expected to DOUBLE in 20 years!!

“An American at age 65 has an average life expectancy of 18.7 more years.”

How will I Pay for Long Term Care Services?

You can pay for these services a number of different ways:

•Pay out of your own pocket and deplete a lifetime of savings
•Apply for Medicaid, but you will be required to spend down your assets and “become a ward of the state”
•Purchase a Long Term Care Insurance Policy