Why You Might Need It ...

For a man over 65 there is a 33% chance he will need Long Term Care.

For a woman over 65 there is a 50% - 70% chance since women statistically live longer.

42% of adult Americans receiving long-term care are between the ages of 18-64.

The average stay in a Nursing Home facility is 2.5 - 3 years.

As people live longer, the average stays will inrease.

1 in 25 men and 1 in 8 women will require 5 or more years in a nursing home.
For those with cognitive impairments, such as Alzheimer's or dementia, or suffering from the results of a stroke, the stays can exceed 10 years.

Approximately 80% of health care cost for the elderly are for Long Term Care.

In 2002, of the $179.6 Billion spent on Long Term Care, 36% of nursing home costs were paid for privately, 47% by Medicaid and 12% by Medicare.
One year in a nursing home today will cost $34,000 to over $120,000 depending on location.
Nursing home care in Hawaii can cost $220/day, or $80,000 per year, 5th highest in the nation.

Nursing home vs. home health care?

There are 2.4 million people in nursing homes but over 10 million who receive LTC in their homes, assisted living facilities, or adult day care facilities.
Home Health care can start from $18/hour for companions or home health aides to over $200 for a nurse to come in to change a catheter or a dressing or administer medication.
Custodial care providers also can charge $14 per hour - that's $56 just for 4 hours a day.

Kersten and Associates 900 Fort Street Mall, Suite 400, Honolulu Hawaii 96813 Phone (808)531-3137 Fax (808)261-2626 kerstenandassociates@live.com