Phil Cannella – Phillip Cannella Blog: Phil Cannella tells us that there are numerous different types of long term care facilities that provide different levels of service. While each varies in cost, it is the type of care that is significant and the needs of the person requiring such care that is important to evaluate. And of course, as Phil Cannella explains, the cost of care in each case varies markedly.
At the high end, Phil Cannella tells us are nursing homes. These are also the most expensive running often in the region of $100,000 a year. There is home health care usually running around $50,000 a year. A little less expensive is an assisted living facility which can run around $30,000 – $40,000 a year.
Phil Cannella also mentions that there is such a thing as adult day care. These are the least expensive but sometimes do fit a specific need. An adult day care can be defined as: “Normally, adult day care is used to relieve the caregiver or his or her duties for the day while ensuring that the care recipient will still receive the proper care in a safe, friendly environment. These centers usually operate during normal business hours five days a week, and some centers also offer additional services during evenings and weekends. Currently, there are more than 4,000 of these programs operating in the United States.” (Source:http://www.caregiverslibrary.org/caregivers-resources/grp-caring-for-yourself/hsgrp-support-systems/what-is-adult-day-care-article.aspx).
The beauty of long term care insurance as Phil Cannella explains is that the insurance covers what you need and want. The insurance is yours.