How Much Does Long-Term Care Cost?

Jackie Bedard
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Attorney, Author, and Founder of Carolina Family Estate Planning

Long-term care costs vary significantly based on:

  • Type of care needed (e.g., custodial care vs. skilled care);
  • Amount or hours of care needed;
  • Care Environment (e.g., home care, assisted living, etc.); and
  • Geographic location.

Average Cost of Long-Term Care in the Raleigh, NC Area

The 2018 Genworth Cost of Care Survey reports the following averages for the Raleigh, North Carolina area:

Level of Care

Average Per Hour/Day

Average Per Month

Average Per Year

Home Health Aide

$20.50/hour

$3,909

$46,904

Adult Day Care

$55/day

$1,192

$14,300

Assisted Living

$189/day

$5,750

$69,000

Skilled Nursing Facility (Semi-Private)

$234/day

$7,125

$85,501

Skilled Nursing Care (Private)

$263

$8,000

$95,995

Remember, the above figures are averages. Around-the-clock in-home care can easily cost $11,000-$12,000 per month.

Projected Future Cost of Long-Term Care in the Raleigh, NC Area:

The same Genworth study estimates the future annual costs of long-term care in the Raleigh, North Carolina area:

Level of Care

Estimated Annual Cost 2028

Estimated Annual Cost 2038

Estimated Annual Cost 2048

 

Home Health Aide

$63,035

$84,714

$113,848

Adult Day Care

$19,218

$25,827

$34,710

Assisted Living

$92,730

$124,622

$167,481

Skilled Nursing Facility (Semi-Private)

$114,906

$154,424

$207,533

Skilled Nursing Care (Private)

$129,009

$173,378

$233,005

When Care Is Needed

While some might begin needing long-term care after a sudden health event such as a stroke, often the need for more and more care progresses over time, especially with degenerative diseases such as Alzheimer’s disease, Parkinson’s disease, and dementia.

Often informal caregiving by family members begins at home before eventually progressing to hired home health care. As the home health care needs increase, a decision may be made that assisted living would be a better quality of care and a more cost-effective approach. And eventually, as the need for skilled care arises, the transition from assisted living to a skilled nursing facility becomes necessary. In our office, we refer to this as The Elder Care Journey.

According to the National Center for Assisted Living, the average age of a resident upon entry to an assisted living community is 84.6 years old. Sadly, we’ve also worked with many families with a loved one in their early 60s that need assisted living or skilled nursing facility care due to a severe stroke or early onset Alzheimer’s disease.

Elder Care Journey

 

We Can Help You Develop a Long-Term Care Plan

Having assisted many Wake County clients with long-term care planning, our team at Carolina Family Estate Planning understands that developing a long-term care plan is about not just protecting your own independence and dignity, but also protecting those you love from the physical, emotional, and financial toll that caring for a loved one can take.

We’ve helped many clients take an interdisciplinary approach to their long-term care planning by exploring both legal and financial options. Usually, a well-rounded long-term care plan will involve a combination of legal, health care, and financial tools to meet your goals and maximize your protection. To get started, register an upcoming seminar to learn more or call our office at 919-443-3035.