Wednesday, October 26, 2011

Long-Term Care: How Much Does It Cost?

Many baby boomers are deciding now whether to buy long-term care insurance. For those trying to make a decision, it might help to know the cost of different types of long-term care. To that end, the MetLife Mature Market Institute collects information on the cost of long-term care and updates the information annually for the nation, states, and large metropolitan areas. In 2011, the annual average cost of long-term care nationally looks like this...

Nursing home, private room: $87,235
Nursing home, semi-private room: $78,110
Assisted living community: $41,724
Home care, home health aide: $21,840
Home care, homemaker: $19,760
Adult day services: $18,200

Source: MetLife Mature Market Institute, 2011 Market Survey of Long-Term Care Costs

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