Covering the Rising Cost of Long-Term Care 2013

…After the stock market crash of 2008 and a collapsing housing bubble diminished the value of many nest eggs, the cost of long-term care is now a concern for many aging Americans.

A 2013 report by Genworth Financial, an insurance provider based in Richmond, Va., estimates the national median daily cost of a private room in a nursing home at $230 a day, an increase of 3.6 percent over 2012 – some $6,900 per month. Sharing that room is only $27 less a day, according to the report.

“Over all, the cost of care among facility-based providers has steadily increased,” … Read the rest