Paying For Long Term Care

What does AARP’s Long-Term Care Cost Calculator do? The calculator helps families compute the costs of long-term care. It estimates the cost in your area for nursing homes. It provides prices for assisted living facilities. Finally, it measures the costs of services that allow older adults to age in their own homes, via adult day care and with home health aides and homemaker services. How does the calculator estimate the cost of long-term care in my area? The calculator estimates median costs in your area based on a nationwide cost-of-care survey. The survey, produced by Genworth Financial, includes research from 435 cities in 50 states.

What is long-term care? Long-term care takes many forms in today’s society. Most often, it is provided at home by family, friends or paid caregivers. Some people need more intense, 24-hour care of the kind offered in nursing homes and other residential settings, such as assisted living homes. COVID-19 continues to affect residential and nonresidential long-term care. AARP offers the latest news and guidance about nursing homes and care at home.

What is a long-term care facility? These facilities vary widely in the care offered, costs and the people they serve:

1.Nursing Homes Nursing homes give residents supervision 24 hours a day. They typically provide nursing care, three daily meals, help with personal care and rehabilitation services, which usually include physical, occupational and speech therapy. Some residents need only short-term rehabilitation after a hospital stay or injury. But most nursing home residents have long-term physical or mental health conditions that require that they remain for long periods, or permanently, in private or semiprivate rooms. One easy way to assess nursing home quality is through Nursing Home Compare, maintained by the federal government. Families should also visit homes and review federal and state files.

2. Assisted Living Assisted living residences are largely nonmedical facilities for older adults who need some help with daily life and can no longer live on their own. They remain healthy and active enough that they don’t need to be in nursing homes. But they often need help with medication and housekeeping. Residents have their own single rooms or apartments. They often eat in dining rooms and can attend on-site exercise classes and movies.

3. Residential Care Homes Residential care homes are a smaller form of assisted living, normally with room for 20 or fewer older adults, often in residential neighborhoods, and are similar in cost.

4. Memory Care Memory care is typically provided in units attached to assisted living facilities and nursing homes. Such units care for older adults diagnosed with dementia and Alzheimer’s disease who can no longer live on their own. They usually have locked doors to prevent residents from wandering.

5. Continuing Care Retirement Communities Continuing care retirement communities combine different levels of care on one campus. The advantage is that you can stay in one place as you age. The disadvantage is the cost, with entry fees averaging more than $400,000, according to the National Investment Center for Seniors Housing & Care.