The cost of long term health care continues to rise more rapidly than ever. That makes it even more critical to know the facts about your long term care insurance options.
The cost of long term health care depends on the level of services and location. But the average cost of nursing home care in the US is currently about $56,000 per year. In some areas of the country it is as high as $100,000 per year. Since the average length of a long-term care stay in a facility is 3.1 years, this represents an average cost of between $170,000 and $310,000.
The fact is it is usually worse than that, because a nursing home stay is preceeded by home health care services for a considerable period of time. So your resources will have been severely depleted even before dedicated long term care is required.