Estimated Costs of Care by Type
Don’t be startled by what I’m about to say, but Long-Term Care is not covered by Medicare. Most people go well into their 60s before they learn this fact. In some circumstances, the cost of LTC may be covered by Medicaid, which is income-based insurance.
The cost of care can depend greatly on where the care is given. The median cost for a home-health aide for an eight-hour day is more than $49,000 a year, while nursing care in a facility with a private room has a median cost of almost $98,000 a year.1
|Type of Care||2016||2017|
|Private Room in Nursing Home||$7,698||$8,121|
|Semi-Private Room in Nursing Home||$6,844||$7,148|
|Home Health Aide||$3,860||$4,099|
|Home Care: Homemaker||$3,815||$3,994|
|Assisted Living Facility||$3,630||$3,750|
|Adult Day Care||$1,475||$1,517|
Source: AARP, Nicholas Rapp, AARP Bulletin, 5 Things You Should Know About Long-Term Care Insurance, Article Link. All Rights Reserved.
It is common for siblings to go-in together to purchase long-term care for their parents. Parents many times do not want to be a burden on their kids.
Trusted By Our Clients
"From our first meeting to the last, our representative was professional, knowledgeable, patient, and quick to respond to our texts, emails, and phone calls!! Nothing but glowing things to say about him and Buffer Benefits!"
“My husband and I came to see Buffer Benefits regarding our future plans, specifically Medicare. Our representative took time with us to fully explain everything to our satisfaction and offered very knowledgeable suggestions. We loved his pleasant demeanor and candor, especially his sense of humor. The offices were beautifully decorated so warm and homey and we had a great experience there all around. Thanks so much for your help Buffer! “
“I received excellent and very personal help in making all my insurance decisions. I highly recommend Sean Turner and this group, They are there to serve and help any way they can.“