Respite care can be offered in a nursing home or other facility, or at home through the services of a home health aide. As you can see, there are many variables that go into determining the cost of long-term care, including the level of care needed and the type of facility in which the care is provided. But no matter how you look at it, long-term care is expensive. There are some generally accepted cost estimates for the most common types of care. This figure varies from one area to another, and in some regions the cost is more than double this amount.
Home care is less expensive, but it is still a significant expense.
Because the potential expense is so great, advance planning is critical. If you don't have measures in place to pay for long-term care and you lose the ability to take care of yourself, your assets may have to be liquidated to cover the cost of your care. Long-term care insurance is one of several options in addressing this issue.