Cost of Long Term Care

Many people are simply not prepared to pay the bill for an expensive nursing home or assisted living facility. According to a survey conducted by Genworth, the current median yearly cost for a private nursing home room in Iowa is about $73,000 a year and the national average is over $92,000. The survey found that these rates have been increasing at a growth rate of about 3.5% over the last five years. Costs for other related services are increasing also, such as homemakers, personal health aides, and adult day care services.

With people living longer than ever, the importance of preparing for long-term care cannot be ignored and we can help you get ready for it.

For questions or comments about this article, contact our office at 515-284-1011 or laura@westfinancialadvisors.com.