It’s impossible to predict your chances of needing long-term care, or how long you may need it. And since cost of care can be expensive, it’s important to understand the financial impact a few years of long-term care can have.
Nursing Home Care: The average cost of a year’s care in a private Medicare-certified long-term nursing home room is $116,654.76.
Home Care: The average in-home care costs $60,569.60 a year for 40 hours of help per week.3
Assisted Living Care: A year in a 1-bedroom assisted living care facility averages $63,336.60 per year.3
AARP Long Term Care Options
3 New York Life Cost of Care Survey, 2023
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