What is the Cost of Long Term Care Services?

The cost of long term care depends on what kind of care you need and where you are living when you need the care. Based on the Genworth 2010 Cost of Care Survey the costs for 2010 are as follows:

Homemaker Services (Licensed): Provides “hands-off” care such as helping with cooking and running errands, often referred to as “Personal Care Assistants” or “Companions.” This is the rate charged by a non-Medicare certified, licensed agency.

NATIONAL MEDIAN HOURLY RATENATION AVERAGE ANNUAL RATE
$18$23,400*
*Assumes five hours a day, five days per week

Home Health Aide Services (Licensed): Provides “hands-on” personal care, but not medical care, in the home, with activities such as bathing, dressing, and transferring. This is the rate charged by a non-Medicare certified, licensed agency.

NATIONAL MEDIAN HOURLY RATENATION AVERAGE ANNUAL RATE
$19$24,700*
*Assumes five hours a day, five days per week

Adult Day Health Care: Provides social and other related support services in a community-based, protective setting during any part of a day, but less than 24-hour care.

NATIONAL MEDIAN DAILY RATENATION AVERAGE ANNUAL RATE
$60$15,600*
*Assumes five days per week

Assisted Living Facility (One Bedroom/Single Occupancy): Provides “hands-on” personal care as well as medical care for those who are not able to live by themselves, but do not require constant care provided by a nursing home.

NATIONAL MEDIAN MONTHLY RATENATION AVERAGE ANNUAL RATE
$3,185$38,220

Nursing Home (Semi-Private Room): Provides skilled nursing care 24 hours a day.

NATIONAL MEDIAN DAILY RATENATION AVERAGE ANNUAL RATE
$185$67,525

Nursing Home (Private Room): Provides skilled nursing care 24 hours a day.

NATIONAL MEDIAN DAILY RATENATION AVERAGE ANNUAL RATE
$206$75,190

If you require in-home assistance from a Home Health Aide (HHA), you may start with a short visit of one or two hours to assist with bathing. You may find, however, that you need help with other activities as time goes on. This may increase the hours the HHA would need to spend with you per day and may increase the cost of service. Also, if your needs change and you require the services of a skilled nurse instead of an HHA, the cost of care would generally be higher.

Because care situations vary greatly among individuals, the costs and location of car received may also vary. Generally, the yearly average cost of an HHA is less than that of a yearly average cost of a nursing home, but for instance, if you need around-the-clock care, the costs may be more expensive. Again, much depends on your care situation. Adult day care can serve as a cost-effective option for individuals who need ongoing supervision and/or assistance throughout the day.

1Genworth 2010 Cost of Care Survey, Genworth Financial, [April 2010]

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