California Partnership for Long Term Care

What You Need to Know

We never want to think about the possibility that we’ll one day need help with getting dressed, eating or bathing. But when daily activities become difficult and you or a loved one need long-term careCare given to someone who can no longer perform activities of daily living. because of a chronic physical condition, such as arthritis or Parkinson's disease, or a degenerative mental disease, such as Alzheimer's, who will pay for this care?

We have calculators to help you understand the financial costs, but you also have to weigh the human costs of time, emotional stress and suffering. There’s no amount of planning or money that will remove all of these problems, but simple advance planning can significantly reduce some of these challenges.

Long-term care can be very expensive and many people will use long-term care for an extended period of time (one year or more). Nearly half (45%) of  the people 65 years of age and older, who go into a nursing home, will spend between $94,900 for one year of care and $474,500 (in year 2014 dollars) for almost 5 years of care and nearly 12% of people will spend even more.  And you shouldn’t forget that before most people enter a nursing home, they have already struggled for years with the cost of long-term care in their own homes. 

  • Nursing home costs in California averaged $260 a day in 2014
  • Average Statewide annual cost of care in California is $94,950

The U.S. Department of Health and Human Services, Center for Disease Control and Prevention, National Center for Health Statistics, National Nursing Home Survey: 2004 Overview, reports the following nursing home length of stay breakdowns;

  • 43.6% of people will have a stay of less than 1 year
  • 31.1% of people will have a stay of from 1 to less than 3 years
  • 13.7% of people will have a stay of from 3 years to less than 5 year
  • 11.6% of people will have a stay of 5 years or more

The possibility of needing long-term care is something most of us would rather not think about. Yet, 70% of people will need some form of long-term care at some point in their lives, according to the U.S. Department of Health and Human Services, Administration of community Living, National Long-Term Care Clearinghouse.

 

 

 

Click here for the calculator tools.

 



Watch the video: A Personal Story - Bill Galston and his wife