Make Long-Term-Care Coverage Affordable: You may not need a pricey, fully loaded policy

摘要

NO MATTER HOW CAREFULLY YOU PLAN for retirement, if you don't have long-term-care insurance, a catastrophic illness could wipe out your savings. The average private room in a nursing home costs $250 per day - or $91,250 per year - according to Genworth's 2015 Cost of Care study. The median cost of assisted living is now $43,200 a year, and the cost of hiring a home-care worker is $20 per hour, or more than $41,000 per year for a 40-hour week. (The average length of care is about three years.) Medicare provides little coverage for long-term care, and Medicaid kicks in only after you've spent almost all of your money.