In the United States, the median monthly cost of a semi-private room in a nursing home is currently more than $7,500. The cost of a private room exceeds $8,500 per month. Depending on where you live, costs can be considerably higher. In addition, costs rise according to the level of care needed and they are expected to increase dramatically in the future. (Please click to see the current costs for home care, adult day care, assisted living, and nursing home care in your area.) To make matters worse, nearly 70 percent of us over the age of 65 will require long-term care at some point in our lives and 20 percent of us will need long-term care for five years or more. All of this helps explain why so many families exhaust their life savings within a few years of a family member entering a nursing home. And why more
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