Concerns of Mature Americans
Cost of Nursing Home & Confinement

It is very likely that at some point a loved one in your family will need a nursing home. A majority of people over age 65 will need some type of long-term care during their lifetime.  According to the Centers for Medicare and Medicaid Services, over 40 % of Americans will require some level of care in a nursing home.  The high cost of this care can financially devastate a family.  But there are actions you can take to minimize the financial impact whether you or a loved one needs a nursing home now or in the future.

Over the past five years, the median annual cost of private nursing home care has jumped 24% from $67,527 to $83,950, according to Genworth's 2013 Cost of Care Survey, based on data from nearly 15,000 long-term care providers. From 2012 to 2013 alone, the price climbed 4%.