LTC Global Canada
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How Much Does Long Term Care Insurance Cost?
How Much Does Long Term Care Insurance Cost?
Long term care can be provided in the home, in assisted living facilities, adult
day care centres or in a nursing home. The cost of services in Canada ranges widely
and can be very expensive.
Nursing Homes
Nursing homes are residential facilities that provide 24-hour skilled nursing care
and supervision. All of the provinces subsidize a portion of the costs of nursing
homes. The amount paid by residents is called a "co-payment" and depend upon the
type of accommodation. The co-payment rates in Ontario as of 2008, for instance,
are as follows:
$18,936
Ward (3 or more beds per room)
$21,846
Semi-Private
$25,506
Private
There are additional fees for services such as hairdressing, cable tv, telephone,
Assisted Living Facilities
These are residential facilities that provide accommodation and services to autonomous
seniors. They are privately owned, operated and regulated. Residents are responsible
for paying their own fees and no government subsidies are available. Some assisted
living facilities can accommodate seniors who are functionally dependent i.e. they
cannot perform 2 or more of the activities of daily living (bathing, dressing, eating,
toileting, transferring, and continence) without substantial assistance. The approximate
annual costs in Ontario for functionally dependent residents are as follows:
$24,480 - $32,400
Semi-Private
$25,560 - $78,600
Private
$45,300 - $72,000
One-Bedroom Suite
Adult Day Care Centres
These facilities provide day care assistance in a group setting. Similar to child
day care centres, these programs offer a safe and protective setting for seniors
who require minimal assistance while the caregiver is at work. Some centres specialize
in handling adults with dementia. Costs vary widely depending on the centre.
Home Care Services
In Ontario, home care is partly subsidized by the provincial government and is administered
by local Community Care Access Centres (CCAC). CCAC resources are limited and go
to the neediest. The maximum number of hours that CCAC can provide each month is
60 hours but typically only a few hours a week are awarded due to their tight budgets.
Consequently, most Ontario seniors have to rely on private home care services to
receive the necessary amount of care.
The average hourly costs of private home care in Ontario are as follows:
$20.77
Meal Preparation
$19.93
Laundry/House Cleaning
$21.33
Bathing/Dressing
$20.47
Companionship/Supervision
$49.22
Skilled Nursing
Occupational Therapy In the case of a
person requiring a high level of home care (8 hours a day of private care) at an
average hourly cost of $22, the annual after-tax cost would be $64,064. Assuming
a marginal tax rate of 25%, the before tax cost would be approximately $85,400.
Find Long Term Care Costs by State in the U.S.