- Facing Reality
- First Steps
- Know Your Options
- Do Nothing
- Depend on Family and Friends
- Purchase Insurance
- Next Steps
- How much does LTC cost in your county?
- The California Partnership Direct Mail Campaign Mailer
- Caregiving Resources
- Federal Long-Term Care Policy Information
- Consumer Rate Guide: Long-Term Care Insurance
- Medicare Educational Information
- Taking Care of Tomorrow
- California Agencies
- The Health Insurance Counseling and Advocacy (HICAP)
- 3in4 Need More
- Planning Tools
- Partnership-certified companies
- Field Poll Results Show Californians Are Unprepared
- Agent Resource Center (Agents only)
- Frequently Asked Questions
- California's Sandwich Generation Caregivers
- Will Boomers Bust the Budget?
- LTC Insurance and Taxes
Long-term careCare given to someone who can no longer perform activities of daily living. can be very expensive and many people will use long-term care for an extended period of time (one year or more). Nearly half (45%) of the people 65 years of age and older, who go into a nursing home, will spend between $94,900 for one year of care and $474,500 (in year 2014 dollars) for almost 5 years of care and nearly 12% of people will spend even more. And you shouldn’t forget that before most people enter a nursing home, they have already struggled for years with the cost of long-term care in their own homes.
- Nursing home costs in California averaged $260 a day in 2014
- Average Statewide annual cost of care in California is $94,900
The U.S. Department of Health and Human Services, Center for Disease Control and Prevention, National Center for Health Statistics, National Nursing Home Survey: 2004 Overview, reports the following nursing home length of stay breakdowns;
- 43.6% of people will have a stay of less than 1 year
- 31.1% of people will have a stay of from 1 to less than 3 years
- 13.7% of people will have a stay of from 3 years to less than 5 year
- 11.6% of people will have a stay of 5 years or more
The possibility of needing long-term care is something most of us would rather not think about. Yet, 70% of people will need some form of long-term care at some point in their lives, according to the U.S. Department of Health and Human Services, Administration of community Living, National Long-Term Care Clearinghouse.
We’ve developed calculators and worksheets to help you better assess your situation.
Watch the video: The cost of long-term care