With our population aging and living longer, long-term care is growing increasingly more expensive—and the prices are staggering.

A private room in a nursing home now costs consumers more than $8,000 per month, or $97,455 per year, according to The Genworth Cost of Care Survey.  A semi-private room is less expensive but still carries a hefty price tag: $85,775 per year. The median cost of a home health aide is $49,192 per year for 44 hours per week. Two-thirds of Americans mistakenly think the government will cover the cost of long-term care.

Medicare does not cover nursing home care except for limited stays after a hospital admission of three days or more, nor does Medicare pay for in-home care if it’s not skilled nursing care. It is estimated that Medicaid pays for 45-60% of long-term care costs nationwide, but the rules for when Medicaid will pay are complicated and vary state to state.

To help explain these complicated rules, VPLC has created an outline that’s updated every year. If you have questions or concerns around the cost of long-term care, view our outline here or call our senior legal helpline at (844) 802-5910 to speak with one of our elder law attorneys about long-term care and other elder law issues.