HOW MUCH DOES THE AVERAGE PERSON SPEND ON LONG TERM CARE?

Published On: 12/12/2017

Longterm care costAccording to a recent Survey report by Genworth Financial, a private room in a nursing home now costs consumers over $8,100 per month, or $97,452 per year (national median cost). That’s an increase of 5.5% from only one year ago and close to 50% increase since 2004. A semi-private nursing home room is only slightly less expensive at an average cost of $85,775 per year.

The following figures for the monthly average expense of home health and long term care services are also eye opening:

~Homemaker Services: $3,994

~Home Health Aide: $4,099

~Adult Day Care: $1,517

~Assisted Living Facility: $3,750

With the costs of long term care skyrocketing, advanced planning is more important than ever. Contact us today to discuss your estate and long term care planning needs.

To learn more or get started on your estate plan, just schedule a time to visit us for a no obligation complimentary consultation.

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Post Author

Britt Stouffer

Britt L. Stouffer is a Maryland attorney experienced in Estates, Trusts, and Elder Law. With over 10 years of experience in Estates and Trusts, she has learned to appreciate how unique each client truly is. On a typical day, you will find her working on Wills, Revocable Living Trusts, Powers of Attorney, Advance Medical Directives, Tax Planning cases, Estate Administration filings, Petitions for Guardianships, Special Needs Planning, and Asset Protection.

658 Kenilworth Dr., Ste. 203, Towson, MD 21204



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