Long Term Care: Breaking The Bank?

According to a new survey, California is one of 15 states that had the highest costs for home health services and assisted living. 

The cost of assisted living, nursing homes, home care is outpacing the rate of inflation.

“We’re seeing that the cost of care is at a blended 3 percent whereas with inflation today being at 2.1 percent it’s very much higher and in some categories such as assisted living, it’s almost three times as much as the rate of inflation,” said Gordon Saunders with Genworth Financial which released the report.

In California a private room in a nursing home is $17,000 higher than the national average. Home care in California is about $11,000 dollars higher.  

“And year over year in California, the percentage increase has gone from three percent to as high as almost five and half percent,” added Saunders.

“This type of expense or situation is a ripple affect. Regardless of where we are in age, the younger side or the older side, a long term care type event can happen.”

You can see what the costs of long term care are in Sacramento and surrounding areas. There’s also a calculator. You can project what your costs might be in the future. 

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