Approximately 1.2 million Americans reside in nursing homes, but many people first use homemaker services, home health aides, adult day care, or assisted living. Long Term Care insurance has been a viable option for retirees to help cover some of the costs. However, it has become expensive, difficult to attain, and difficult to keep. During this show, we’re going to break down a few long-term care myths and discuss ideas of how to add long-term care protection to your holistic retirement plan.
Adult daycare is $26,000, and assisted living is $74,400. Okay, so those other than the adult daycare, which is considerably lower, those other three are ranging between the $75,000 and $80,000 annually. So what happens when we need to graduate to a nursing home? Well, a semi-private room is about $110,000 to $115,000 per year, and then a private room is $127,000-ish to $130,000 a year.
– Mark Fricks
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