How Much Does Long-Term Care Cost?

The U.S. Department of Health and Human Services (HHS) estimates that 56% of individuals turning 65 in 2020 to 2024 will need long-term care services and supports.[i] The average need for these services range from 2.3 years for men to 3.2 years for women. If you or a loved one were to need long-term care for this amount of time, HHS estimates the average out-of-pocket expense to be $156,000.

That estimate is on a national level. Genworth is a global financial security company that provides an annual Cost of Care Survey comparing current long-term care costs by state and region.[ii] Below are the median rates for Maine and the Bangor region:

Type of Care


Daily Rate

Monthly Rate

Annual Rate

Home Health Aide









Assisted Living Facility









Nursing Home
(semi-private room)









Nursing Home
(private room)









Based on these averages, an aging Mainer could anticipate long-term care services to cost over $230,000 for just two years of care! With these rates increasing annually, planning ahead is more important than ever. If you would like to schedule a meeting to discuss your options to protect assets from potential long-term care expenses, please give us a call at 947-6500.

[i] Long-Term Services and Supports for Older Americans: Risks and Financing, 2020, ASPE Research Brief, Urban Institute and US Department of Health and Human Services, (January 2021).