Cost of Long Term Care Services

Cost of Long Term Care Services

What is the actual cost of Long Term Care services in Colorado?

Understanding the actual cost of care will help you better make a decision if Long Term Care Insurance (LTCi) is right for you. It is also important to anticipate what the cost of care will be in the future. Important questions are:

What is the difference in cost between the different kinds of care? Such as Home Health Care, Assisted Living and Nursing Home?

Do you think your family’s assets will increase at the same rate as Long Term Care expenses?

The information on this page will give you a better idea of how to anticipate those costs, and how they will affect your financial goals. You may also read about real stories from others that have experienced the high cost of care here.

How will the cost of care be expected to rise in the future?

Since 1990, the average cost of Long Term Care in Colorado had increased 6.2% per year. That’s a jump of over 124%! We expect that percentage to increase because of our rapidly aging population. As we know over 10,000 people a day are turning 65. Look at the graph on the right showing the increase in US aging population. (Based on the 2000 Census) Because of this drastic increase in those expected to need care, Colorado has implemented the Colorado State Partnership program to help its citizens.

Current Rates for Colorado

Rates for facilities and Home Health services vary by location. The rates listed are for an annual basis and are an average for the state of Colorado. Click on the link below the rates to see what defines a type of Long Term Care facility. The link will provide definition on Nursing Homes, Assistant Living facilities, and Home Health Care agencies.  (rates and definitions based on 2015 Genworth Survey and the Long-Term Care insurance sourcebook).

Colorado – State Median: Annual Care Costs in 2015

Nursing Home Care

Nursing Home Care is for people who may need a higher level of supervision and care than in an assisted living facility. They offer residents personal care, room and board, supervision, medication, therapies and rehabilitation, as well as skilled nursing care 24 hours a day.

Private room $93,531
Semi-private room $83,950

Assisted Living Facility

Assisted Living Facilities (referred to as Residential Care Facilities in California) are living arrangements that provide personal care and health services for people who may need assistance with activities of daily living, but who wish to live as independently as possible and who do not need the level of care provided by a nursing home. It’s important to note that assisted living is not an alternative to a nursing home, but an intermediate level of long-term care.

Private, one bedroom $45,000


Adult Day Heath Care

Adult Day Health Care centers can offer a much-needed break to caregivers. This type of care provides service at a community-based center for adults who need assistance or supervision during the day but who do not need round the clock care. The centers may provide health services, therapeutic services and social activities.

Adult day health care $16,900


Home Care

Home Health Aides help those who are elderly, disabled, or ill to live in their own homes or in residential care facilities instead of in nursing homes. Home health aides may offer care to people who need more extensive personal care than family or friends are able to or have the time or resources to provide.

Homemaker Services
make it possible for people to live in their own homes or to return to their homes by helping them complete household tasks that they can’t manage alone. Homemaker services aides may clean houses, cook meals or run errands

Home health aide $50,336
Homemaker services $49,718

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Long Term Care Planning

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