Home | Site Map | Contact Us   
Search  
Customer Service: 800.311.3182   
Signup for Online Banking View a demo of Internet Banker Login to Internet Banker
Search for:

 

Zip Code:
or
City:
State:

Advanced Search
Long Term Care

Long term care is needed by those who can't perform the basic tasks required to take care of themselves. This can include people suffering from a debilitating illness or chronic injury. The need for long term care can arise unexpectedly, often creating a large financial burden. This calculator can help you determine if you are financially prepared for this impending expense.

This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN's Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below:

Get the Java(TM) Plug-in!

Definitions
Estimated daily cost
This is your current estimated cost of long term care. According to the Genworth Financial 2008 Cost of Care Survey, the estimated average cost for a nursing home stay was $68,255 per year for a semi-private room. This is about $187 per day. The cost for a private room was $76,285 or $209 per day. Assisted living at home can cost more than $32,572 per year or $18 per hour for a home healthcare aid. All of these long-term care costs can be considerably higher in larger metropolitan areas.

Years of care
The number of years you expect to require long term care. The average stay in a nursing home is about 2.5 years, but can vary considerably.

Inflation rate
What you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI), which has a long-term average of 3.1% annually, from 1925 through 2008. The CPI for 2008 was 4.0%, as reported by the Minneapolis Federal Reserve. We will increase the cost of your long term care by this rate each year.

Funds currently available
The total amount that you have saved or invested that would be available to pay for long term care expenses.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
    Email this Page  
Terms & Conditions   |   Privacy   |   Security   |     Equal Housing Opportunity   |   Member FDIC
Copyright © 2009 Susquehanna Bancshares, Inc.
Susquehanna Bank 1570 Manheim Pike Lancaster, PA 17604-3300