Fidelity: $85k needed for long-term care costs
Wednesday, June 25th, 2008
…the cost generally isn’t subsidized by employers. Bloom recommends people consider buying long-term care insurance when they’re in their 50s. Policies generally cost less the earlier in life they’re purchased. While someone may never end up needing long-term care, the financial hit can be hard if it is needed, with the average cost of a one-year stay in a private room at a nursing home now at more than $76,000, Bloom said. In Part Because of those high costs, about…
