Long Term Care is Affordable

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What could long-term care cost?

Consider this example:
Mr. Jones leads a healthy, active life until at the age of 70 he suffers a stroke. Able to stay in his own home, but needing some assistance, Mr. Jones receives home health care services 5  days per week, costing $75 per day.

At age 75, Mr. Jones has another stroke that leaves his right side completely paralyzed. Unable to stay at home, he enters a nursing home where he lives until his death at age 78.

What choices do you have for paying the cost of long-term care?

In your home: Home is where most people like to stay and receive care
Adult Day Care: Adult day care provides your care during the day while the person you live what is away at work. During the evening you return to the comforts of home
Alternate care facility An alternate care facility provides more assistance than you can get at home, and you are not confined in a nursing home.
Nursing home A nursing home provides 24-hour nursing services for people who require a high level of care and attention

 

What was the cost of Mr. Jones' care?

5 years of care in his home:

$75 per day x  260 days per year:  $19,500 for 5 years: 

$97,500

3 years of nursing
 home care:

$110 per day times 365 days: $40,150
for 3 years: x    3

$120,450

Total cost of Mr. Jones'
long-term care: 

$217,950