Medicaid and Long-term Care Costs

News and Resources | March, 17, 2013 | by 0 Comments

One major worry for older adults is that costs for long-term care will exhaust their life savings. Some fear that if their assets are depleted by a long-term illness the dignity, security and independence they worked a lifetime to attain will also dissipate. According to one study among persons age 65 and over, 43 percent are expected to spend some time in a nursing home. Among this population, 55 percent are expected to have total lifetime nursing home care of at least one year and 21 percent will have a total lifetime nursing home care for five or more years.

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