75% of people over age 65 will eventually need long-term care.
Long-term Care is insurance that helps with medical and non-medical needs for those with a chronic illness or disability. It provides coverage in the event that your client may someday not be able to take care of themselves. Long-term Care insurance helps cover costs for care providers and support services.
The median annual cost for a private nursing room home is a staggering $100,375/year. $89,297/year for a semi-private room. In-home health aides charge on average, $50,336/year. Homemaker services can cost $48,048/year. It will cost your client $48,000/year to be in an assisted living facility and an adult day care center can set them back $18,720/year.
The median annual cost for a private nursing room home is a staggering $100,375/year. $89,297/year for a semi-private room. In-home health aides charge on average, $50,336/year. Homemaker services can cost $48,048/year. It will cost your client $48,000/year to be in an assisted living facility and an adult day care center can set them back $18,720/year.
Source: Genworth 2018 Cost of Care Study