Long Term Care Costs
The cost of long term care can be expensive and vary greatly depending on the type of care you receive, the place it's provided, and where you live. For example, the national average cost for a semiprivate room in a nursing home is $91,6151 per year.
When considering cost, don't forget to also factor in inflation—the cost of care today may be much more in the future when you need care. If inflation continues to average 2.55%2 every year, in 20 years the annual cost of care in a nursing home will increase from $91,615 to $151,593.
Is this an expense that you can afford to pay today, and in the future?
National average costs
The following average annual costs for each type of care are based on the John Hancock 2016 Cost of Care Survey.
6 hours/day | 5 days/week