What Does Long Term Care Cost?

True Cost is more than dollars and cents.

Long term care is expensive, even in some cases where no monetary payment for the care is involved. How can this be? It’s because much of the actual long term care that takes place in the United States today is unpaid: often referred to as “informal” care, it’s provided by relatives and friends.

Long Term Care CostHowever, this unpaid care does have a cost. Although loved ones may be willing and happy to help, the burden of being a caregiver can be great. Long term care can be physically demanding, especially for an untrained caregiver. Emotional costs can also be tremendous. Time spent caring for a parent can add up, taking precious time away from one’s own spouse and children, as well as one’s job. As a result, there may be a heavy toll in economic terms. Many caregivers end up scaling back their own careers – not only compromising their current income, but also their future financial security.

 The question is not whether your loved ones will take care of you if you need LTC; the question is instead, would you want them to have do it?

 Professional Care Costs

According to a comprehensive report published in 2016, the national median cost for either a home health aide or for homemaker services is $20/hour. The national median for assisted living facilities is $43,536/year, with a private nursing home room costing $92,345. It is important to keep in mind that costs can vary dramatically depending on location. The person who gave you this information can show you exact up-to-date costs in your area.


The information here is provided for education purposes only and should not be construed as insurance advice. Please consult your license nurse LTC advocate for advice regarding your specific circumstances.