Cost of Long Term Care

Cost of long term care in {STATE}1

Long term care

Myth #21: Long term care insurance is too expensive to buy.

Truth: Depending on your age and current health, long term care insurance may be an affordable option.

There are many ways to pay for long term care. See how much a long term care insurance policy could cost you.

Long term care needs may present you with several financial challenges. For example, if serving as a caregiver, you may face loss of income from the time you're away from work caring for a loved one. Consider this:

  • In 2014, the annual median cost of care in {STATE} for a semi-private room in a Nursing home could be {Column:C}. And private rooms could cost as much as {Column:B}.1
  • In-home care median costs could be {Column:N}, based on 44 hours per week of care.1
  • Adult day care (8 hours a day, 5 days a week) could cost up to {Column:K}.1
  • Assisted living facilities could cost {Column:H} per year.1


Calculate your potential long term care costs and see the impact the need for long term care can have on you and your loved ones.

Nationwide costs for long term care

  • The national median annual cost for a private nursing home in 2014 is $87,600.1
  • In 2013, care recipients spent an average of $14,000 for out-of-pocket expenses, not including the cost of facility care. In the same year, family members spent an average of $8,000 for out-of pocket expenses, not including the cost of facility care.2
  • In 2014, a private room in a nursing home cost $240 per day and a semi-private room cost $212 per day.1

From in-home care to nursing home costs, the cost of long term care may vary greatly depending on where you live.

Learn more about long term care impact

*Individual stories and quotes are fictitious and are used for demonstrative purposes only.

1 Genworth 2014 Cost of Care Survey, conducted by CareScout®, April 2014. Based on median annual costs, which vary among states. CareScout is a Genworth company.
2 Beyond Dollars: The True Impact of Long Term Caring, Genworth Financial, 10/31/2013.
3 Scott, Dylan. “States Seek to Keep Seniors Out of Nursing Homes”. Governing  The States and Localities, Oct, 2012.

Long Term Care Insurance is underwritten by Genworth Life Insurance Company, Richmond, VA

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{STATE}

More than 80 percent of Americans over 50 say they want to remain in their home as they age3.  See how much in-home care cost in {STATE}.

Long term care

Myth #6

I can save enough on my own for long term care.

129919GTFNAT 11/26/13