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Annual Long Term Care Costs in Massachusetts
• Home Care: $98 per five-hour
home health aide visit
• Assisted Living Residences: $108
• Nursing Homes: $205
Insurance Coverage Costs
Here are average premiums for persons purchasing coverage
for long term care insurance. Please keep in mind that these are averages
and
that
the
amount of coverage that is right for you may be more or less than these examples.
The premiums are based on a daily benefit of $140 per day for nursing homes,
home care, assisted living residences, a total benefit period of $175,000
(which represents 3.42 years), a benefit increase option of 5% compounded
,and a 90-day elimination period. Rates are based on a couples discount
and a preferred health rating class. Premiums do not reflect any additional
association
discounts.
| Age at purchase |
Annual premium
|
|
40
|
$369.99
|
|
45
|
$495.16
|
|
50
|
$560.83
|
|
55
|
$772.35
|
|
60
|
$1,147.79
|
|
65
|
$1,684.99
|
|
70
|
$2,509.98
|
Coverage is available for persons age 18-89. Quoted are Massachusetts, New
Hampshire and Rhode Island rates for the Flexible Benefit Plus Independence
Series from Monumental Life Insurance Company, a Transamerica company. Premiums
in other states may be slightly higher due to regulatory variations in the
policy.
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