Long-Term Care Expenses Climb at a Steep Rate

The need to plan ahead for long-term care was DOUBLE underlined in a report from the MetLife Mature Market Institute. According to the report, this years cost for assisted living care rose 5.6% to $41,000. This rate is greater than the rate of inflation for general medical expenses. And if you need to receive care in a nursing home for an extended period of time, you can double that figure to $85,000.

In the report, the steep increase in the cost of long-term care services is blamed on the weak economy and high energy costs. With a slow recovery, and energy prices expected to increase in the future, there is no relief in sight   for long-term care expenses. 

Unless you can qualify for medicare, having a plan to pay for your long-term care expenses is imperative. Having a plan in place will allow you to receive a higher quality of care, and protect the financial security of your family. For help in developing your long-term care plan, contact me at info@superiorltc.com.