Long-term care What's Buzzing

Individual saving and spending for long-term care services and supports

Written by Diane Archer

Fact: Americans pay a lot of money out of pocket for long-term care services and supports. Costs comprise 15% of overall spending in 2011. 

Fact: In 2013, a private room in a nursing home cost about $84,000. The cost of care in an assisted living facility was $42,000. Home health aides, homemakers and companion services generally charge about $20 an hour. Home care costs can easily total $22,000 a year. Adult day care centers cost about $65 a day.

Fact: Only 35% of Americans say that they have set aside any money to meet long-term care needs.  Many people will rely on family members for their care because nursing home and home care are so expensive. In fact, 87% of long-term caregivers are unpaid family members. 

Click here to learn about who pays for long-term-care services and how they are delivered from the Robert Wood Johnson Foundation.  Click here for a brief look at long-term care for older adults from the Kaiser Family Foundation. 

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  • Are there any policies you can recommend for long term nursing home care. How does one plan for this. The expense is exorbitant.

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