Page 42 - Mumme Booklet
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DRAFT
WHY YOU SHOULD START PLANNING FOR LONG-TERM
CARE NOW
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PLANNING FOR LONG-TERM CARE WHILE Ages
YOU’RE YOUNG AND HEALTHY 18-64
No one is ever fully prepared for a sudden and tragic 41%
life-changing event. While long-term care is usually associated
with old age, approximately 41 percent of Americans receiving 59%
long-term care services are between the ages of 18 and 64.*
Ages 65
and older
HOW MUCH DOES IT COST TO RECEIVE LONG-TERM CARE SERVICES?
National Caregiving Costs Potential Scenarios 1
COMMUNITY-BASED CARE
HOME CARE (ADULT DAY CARE )
2
Cost per year: $65,525 Cost per year: $10,500 or $67/day
ASSISTED LIVING NURSING HOME
FACILITY 3
Cost per year: $52,346 Cost per year (private): $103,000
* Oliva, Jason. Majority of Americans III-Prepared for Long-Term Care Needs. Reverse Mortgage Daily. August 15, 2013.
1 2015 Cost of Care Research Study conducted by the Long Term Care Group, Inc. on behalf of Northwestern Long Term Care
Insurance Company; https://www.northwesternmutual.com/about-us/studies/cost-of-long-term-care-study
2 Refers to care in various non-institutional settings within the community.
3 In California, ''Assisted Living Facilities'' are called ''Residential Care Facilities''
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This plan is not complete without the Assumptions and Disclosures pages appearing at the end.
3170326-1-4 January 29, 2021 Page 42 of 108
