Never Too Early to Review Long-Term Care Options
We face a long-term care crisis in the United States, and seniors and boomers need to start creating a strategy as soon as possible. One study suggests that about 70 percent of seniors will need some type of long-term care, and most of the costs are not covered by Medicare. We aren’t talking about costs for doctors and prescriptions, but rather care like nursing home stays, home health aides and the like. Today, the average day in a nursing home costs about $239, a figure which will likely rise. The average stay typically lasts about two and a half years, so even the most financially prepared person will be challenged by $5,000 per month for expenses like these.