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What is Long Term Care? LTC is the assistance people need when they can no longer care for themselves. This may be due to an accident, disability, prolonged illness or the simple process of aging. Americans are living longer than ever. The odds of entering a nursing home, and staying for longer periods, increase with age.
Long term care services include:
- Help at home with day-to-day activities, such as cooking, cleaning, bathing and dressing
- Care in the community, such as in an adult day care facility
- Supervised care provided in an assisted living facility
- Skilled care provided in a nursing home
What do long-term care services cost?
Long-term care services can be expensive, and costs vary widely based on where you live.
- The average daily rate for a private room in a nursing home is $203, or $74,095 per year nationally.
- The average daily rate for a semi-private room in a nursing home is $176, or $64,240 per year nationally.
- The average hourly rate for a home health aid is $22 or about $46,000/year (40hrs/week).
- The average hourly rate for a homemaker/companion is $1 nationally.
 At an assumed 5 percent inflation rate, a year in a nursing home, based on national averages, could cost over $110,008 in 2015 and over $179,191 in 2025. With 5 percent inflation, the cost per year of in-home care, for 40 hours of help per week, could be more than $71,473 in 2015 and almost $116,422 in 2025.
How will I pay for long-term care services?
You have a variety of options when it comes to paying for the long term care services you need:
- Most private medical and major medical insurance plans do not cover long term care.
- You can pay for these services out of your own pocket and risk depleting a lifetime of savings
- You can apply for Medicaid, but you will be required to spend down your assets to meet federal and state requirements in order to be eligible
- You can purchase an individual long-term care insurance policy.
CALL NOW FOR MORE INFORMATION ABOUT LONG TERM CARE IN CALIFORNIA
Copyright 2008, Jerri Lynn Romley, All Rights Reserved - Serving Newport Beach, Laguna, Orange County
& communities throughout Los Angeles and Southern California.
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