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The Newport Beach Long Term Care Guide

Updated: Sep 5, 2019

Need help planning for long term care in the Newport Beach area?  

Check out our free guide on how to plan for nursing home assistance, assisted living facilities, and home health care in retirement.



According to the Department of Health and Human Services, retirees (ages 65+) have almost a 70% chance of needing a long term care service or facility including Nursing Home Care, Assisted Living Facility, Adult Day Care, and Home Health Care. 

Our guide will provide you how much these services cost in and around the Newport Beach and Orange County area, and how much they are projected to cost in the next 5 and 10 years.



We will also show you how to plan for those costs in the future.



What is Long Term Care Insurance?


Long term care insurance helps pay for eldercare services you will need as you get older.  Traditionally, LTC insurance covers an individual that can not meet 2 out of 6 activities of daily living also known as ADLs.

Activities of Daily Living


· Bathing and Showering

· Personal Hygiene and Grooming

· Dressing

· Toilet Hygiene

· Transferring and Mobility

· Self-feeding



Long term care has come a long way in expanding their coverage.  Now retirees can use several methods of LTC to plan for the increasingly expensive services such as nursing homes, assisted living, and home health care as well.



Genworth's Cost of Care Survey states the median cost of LTC for the Newport Beach and Orange County areas:



Long Term Care Annual Cost for Newport Beach (2018) (get copy here)


· Nursing Home Care (Semi-Private Room): $91,250

· Nursing Home Care (Private Room): $109,500

· Assisted Living Facility: $54,000

· Adult Day Health Care: $18,780

· Home Health Care (Homemaker Services): $57,200

· Home Health Care (Home Health Aide): $57,200




Projected LTC Annual Cost for Newport Beach (2023) (get copy here)


· Nursing Home Care (Semi-Private Room): $105,784

· Nursing Home Care (Private Room): $126,941

· Assisted Living Facility: $62,601

· Adult Day Health Care: $21,771

· Home Health Care (Homemaker Services): $66,310

· Home Health Care (Home Health Aide): $66,310




Projected LTC Annual Cost for Newport Beach (2028) (get copy here)


· Nursing Home Care (Semi-Private Room): $122,632

· Nursing Home Care (Private Room): $147,159

· Assisted Living Facility: $72,571

· Adult Day Health Care: $25,239

· Home Health Care (Homemaker Services): $76,872

· Home Health Care (Home Health Aide): $76,872



Long Term Care Solutions


· Long Term Care Insurance - This is traditional long term care insurance that you pay regular premiums to prepare for future benefits.  


· Life Insurance - With life insurance you can take get the best of both worlds, estate planning and long term care planning.  Some policies allow you to gain access to your death benefit while you're alive to help pay for nursing home, assisted living, and home health care.


· Long Term Care Annuities - LTC annuities are hybrid annuities that are built just for long term care related services.  LTC annuities can double or triple your investment to pay for nursing home, home health care services, assisted living, and long term care, tax-free.




Find Long Term Care in the Newport Beach, California Area

· Eldercare Locator

· Nursing Home Compare

· California Department of Aging



The Newport Beach area includes data gathered from both Los Angeles County and Orange County.



Want to find out the best way to plan for long term care costs?  Contact us at 949-306-0353 for a free, no-obligation consultation.


FAQ


How much does it cost for a Nursing Home in Newport Beach, California?


In 2018, the median cost of a Semi-Private Room was $91,250 annually, and a Private Room cost $109,500 annually.


How much does an Assisted Living Facility cost in Orange County, California?


In 2018, the median cost for an Assisted Living Facility cost $54,000 annually.




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