Long Term Care Services

Have you had a loved one who needed care in a nursing home, assisted living, or at home? If you do have this first-hand experience, you know just how paralyzing the expense of long-term care can be.

• Once you turn 65, you have a 65% chance of requiring care
• The average length of stay in a facility is about 3 years
• The average cost for a 1-year stay is about $85,000
• Over the last 20 years, the cost of long-term care has doubled
• You’re most likely to go on claim at age 85

If we use the past 20 years as a guideline and assume that the cost of care will double over the next 20 years, we can estimate over $500,000 for a typical long-term care stay.

Losing your home to the nursing home isn’t unheard of. In fact, it’s pretty common. If you don’t have any way to pay for a stay at a nursing home, you will have to sell your house, your car, and any other assets you own. Then, you will end up on state aid, called Medicaid.

Once you’re on Medicaid, you lose any input on where you will recieve care. The quality of nursing homes and other facilities varies greatly, and Medicaid will place you at the least expensive one.