, in a nursing home, or in an assisted living center. Medicare pays 100% of long-term care for 20 days and all but $95.00 per day for the next 80 days--after that nothing. However Medicare only pays for skilled care and most long term care is not skilled care.
is approximately $105.00 per day. Assisted living ranges anywhere from $50 - $90 per day. If you live on the Eastern Seaboard you can easily spend $50,000 to $80,000 for a year's stay in a nursing home. These costs are perfectly capable of wiping out a lifetime of savings-not to mention the emotional effect long-term care has on a family.
A Harvard University study showed that 69% of single people and 34% of married couples would 13 Weeks = 91 days!.
a woman has a one out of two chance of spending some time in a nursing home. A man has a one out of three chance. In the case of men, mortality catches up with morbidity.
In many states the eligibility threshold for single people is $1,500 in assets. After all Medicaid is WELFARE.
, but children often have children of their own. They certainly can't quit their jobs to care for their parents.
People or when they are ready to use it.
American's , if they can pay for it.
Most People want to choose where they go instead of having to go where they are taken, and if independence is important to them,