Have you and your family discussed long-term care?
The best time to talk about a crisis is before it happens.
Consider this about long-term care:
- Medicare doesn't cover most long-term care expenses.
- Medicaid only covers nursing home care once a person has depleted his or her own assets to poverty levels.
- The nationwide median cost for a private room in an assisted living facility is $5,350 per month.*
- The nationwide average cost for a private room in a nursing home is more than $116,000 per year.*
- Care at home can range from $65,000 to more than $100,000 per year, depending on the location and the level of care needed.
Actual cost of care will vary in each state. Download the latest research report described in this press release: Genworth - Survey Results for 2023.
*According to the Genworth 2023 Cost of Care Survey