Aggressively constant annual increases of Nursing Homes costs have millions of families in debt and confusion when it comes to considering care for loved ones. Recent news indicates that the average national cost of a Nursing Home is over $91,000! In some states the cost is well over $100,000! With little government subsidies to cover the cost many seniors are reconsidering their approach to personal care.
“For the two-thirds of Americans over 65 who are expected to need some long-term care, the costs are increasingly beyond reach. The cost of staying in a nursing home has climbed at twice the rate of overall inflation over the last five years, according to the insurer Genworth Financial. One year in a private room now runs a median $91,000 a year, while one year of visits from home-health aides runs $45,760.
Goldblum estimates that she and her mother spent at least $300,000 over the last two years for care that insurance didn’t cover.
“If you have any money, you’re going to use all of that money,” Goldblum said. “Just watch how fast it goes.”
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