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Medicare doesn't pay long-term-care costs.
Long Term Care Costs - Cost of Care Survey 2014 - Genworth
These are 2014 costs. They are rising 3 to 5% per year.
Independent Living $60,000 (NJ: 1bdrm 2,800/mo.;2 bdrm 3,800/mo
Continuing Care Retirement Communities, or CCRCs. you spend
several hundred dollars to by your unit and still may pay a monthly fee.
You get 80-100% bak when you move out, but sometimes not until it is refilled.
Assisted Living $33,000-$65,000
private bedroom $36,000 - $76,000
In-Home Health Care 8 hrs $57,000 ($40,000 - $70,000)
24 hrs. $70,000 -$170,000 (I have a friend who got someone for $40,000)
Health Aid $18-$30/hr
Homemaker $28-$25/hr
Nursing Home $72,000 - $110,000
Memory care center $120,000-$150,000
California
Home Health Aid $54,600 (44 hrs/week)
Assisted Living private 1 bdrm $45,000
Nursing Home Semi-private room $86,800 (private room $104,000)
Terms:Continuing Care Retirement Community - A community that offers several levels of assistance, including independent living, assisted living and nursing home care.
Home Health Care
Independent Living (Elderly housing) See Senior Living Links: Long-Term Care Insurance Medical Services Costs Senior Living Understanding Assisted Living: Rental vs. Ownership (Pros and Cons) | Arbor The Cost Of Elder Care : NPR Long-term care cost and your choices | Bankrate, Inc. Assisted Living Costs: Facts & Figures by state Elder Care Costs Compared: In-Home Care, Assisted Living, Nursing Homes | aPlaceForMom.com Medicare.gov: the official U.S. government site for Medicare Cost of Assisted Living | Elder Care or Nursing Homes | Assisted Living Federation of America (ALFA) Retirement Planning
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