John Hancock 2016 Long Term Care Cost Survey
The results of John Hancock’s 2016 Long Term Care Cost Survey indicate the cost of long-term care services continue to rise. Over 16,000 care providers across the nation were surveyed in 2016. Following are the national average costs of long-term care for one year of care.
National Average Long Term Care Cost- 2016 |
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| Facility Based Care | 2016 National Average (1 yr) | 2016 Unit Cost | Average Annual Increase (5 yr) |
| Nursing Home: Private Room | $102,930 | $282 daily | 3.1% |
| Nursing Home: Semi-Private Room | $91,615 | $251 daily | 3.2% |
| Assisted Living Facility | $47,064 | $3,922 monthly | 2.1% |
| Home and Community-Based Care | 2016 National Average (1 yr) | 2016 Unit Cost | Average Annual Increase (5 yr) |
| Home Health Care Aide (6 hours a day, 5 days a week) |
$32,760 | $21 hourly | 1.5% |
| Adult Day Care (care received 5 days a week) |
$20,540 | $79 daily | $1.5% |
In 30 years, long-term care is projected to cost over $224,000 per year. That’s $672,000 to $1,120,000 for a three to five year care event.
And inflation is not your only enemy when it comes to long term care costs. A future change in health could make it impossible to purchase protection. The time to plan is now!
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