LTC provides benefits for those that can not take care of themselves due to mental or physical impairments. A daily benefit level is paid towards the cost of nursing care in home or at a nursing facility. The cost of a nursing home depends on the area you live, but in general these costs are on the rise as demand goes up.
A study done by Genworth Financial, located 2/3 down the page in PDF format, illustrates these current high costs and the potential future costs you or your loved ones might incur.
The annual cost runs from $90k to $178k while the average daily cost is between $245 and $489. An astronomical number if you do not have LTC insurance or a lot of money. This is of course assuming you or your loved one wants to be either in a nursing home or taken care of at home by an at home nurse.
I just wanted to start the ball rolling on the topic of LTC and elder care with those numbers. I will be writing more about LTC.
I have created a blog web site that allows you to search every nursing home and assisted Living facility in the USA.
Searchable by State and zip code. check out www.verycare.9f.com
Posted by: victor | May 16, 2006 12:12 PM | Permalink to Comment