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Long Term Care Costs and Calculater

Posted Jul 28 2009 12:21am

Ever wonder how much long term care might cost you?

I found this calculator over on the MetLife website. It is easy to use.

Here are some national numbers. The cost could be lower or higher in your area. Numbers are a little dated.

Average costs of long-term care in 2006:
  • Private room in a nursing home $206 a day; $75,190 annually
  • Semi-private room in a nursing home $183 a day; $66,795 annually
  • Home health care aide $19 an hour
Source: MetLife Mature Market Institute

In south Florida, you can hire an around the clock, live in, caregiver aide for $120-$150 a day (hired directly by you).

Or, you can pay an agency $150-$180 a day for a person with similar experience and credentials.

You might be able to find an assisted living facility in this area for as low as $3200 a month. South Florida is overbuilt with assisted living facilities right now.

If you live in Vermont you are fortunate. They will pay you $45 a day to keep your loved one at home. They also help with out of pocket costs for things like real estate taxes and income taxes.
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Bob DeMarco is an Alzheimer's caregiver and editor of the Alzheimer's Reading Room. The Alzheimer's Reading Room is the number one website on the Internet for advice and insight into Alzheimer's disease. Bob taught at the University of Georgia, was an executive at Bear Stearns, the CEO of IP Group, and is a mentor. He has written more than 700 articles with more than 18,000 links on the Internet. Bob resides in Delray Beach, FL.

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