Long-Term Care Crisis: Planning Ahead

Soaring nursing home costs pose a financial crisis for families caring for aging parents. With average annual costs reaching over $111,000 for a shared room and $127,000 for a private room, many families are caught off guard by the expenses. Medicare only covers short-term rehabilitation, leaving families to fill significant financial gaps. To avoid this crisis, exploring options like long-term care insurance, health savings accounts, or planning for Medicaid well in advance is recommended.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.