Most of us will need long-term care (LTC) at some point, and the costs can be steep.
If you need long-term care, will the rainy day fund you’ve set aside be sufficient to meet the rising costs of long-term care services?
Many people think they’ve saved sufficiently for long-term care costs, but in reality, they may not be prepared. Here are some average long-term care costs:
$132,900 is the average annual cost for a private room in a skilled nursing facility
$4,946 is the average monthly cost of a private, one-bedroom unit in a residential care facility.
$24.15 is the average hourly rate for a certified home health aide provided by a home healthcare agency.
What if you could keep the features you like most about self-insuring but use a vehicle that may better help you cover your long-term care costs?
