What does Group Long Term Care Cost?

Long term care is expensive. The costs of long term care can deplete savings, pension plans, business and personal assets, even life insurance.

Most people want to remain at home if they require care. The current cost of in-home assistance averages $19 per hour nationally.1

Assisted Care Facilities offer another option. Nationally, the average monthly cost for a private one-bedroom is $3,185, reflecting an average annual cost of $38,220.

In 2010, the national average cost per year in a nursing home was $75,190. Potential costs 20 years later (2030) – assuming an annual 5% increase in the cost of care – could be $199,501.50. Thirty years later (2040), the costs could be $324,966.80.

If you are an employer or human resources representative and would like to learn more about group long term care contact us today. Our professional advisors can assist you in learning more about the benefits of group long term care.

If you are an employer or human resources representative and would like to learn more about group long term care contact us today. Our professional advisors can assist you in learning more about the benefits of group long term care.

1 “Genworth Financial 2010 Cost of Care Survey” conducted by CareScout, an independent research firm. April 2010.