As Americans continue to live longer, it is more likely that they will need long term care. It involves different types of long term care facilities and services designed to meet your personal care needs. Long-term care also promotes independent and safe living in case you can no longer perform activities of daily living (ADLs) such as eating, bathing, dressing, toileting and transferring to or from bed or chair.
However, the cost of long-term care is a nightmare. From home care to nursing homes, these long-term care facilities don’t come cheap. Most often than not, long-term care will put a dent in your bank account or worse, it could wipe out your entire savings.
Cost of Long Term Care in the United States
ALTCP’s cost of long-term care shows the latest cost of care across all the states in the United States, which gives seniors and potential family caregivers an idea on the variations of cost from one state to another – to make the most sensible plan for their future care needs.
To help you design a plan for long-term care that wouldn’t break the bank, we have identified the top ten cheapest long term care in the United States. Check out the map infographic below to learn more details about the top ten cheapest states for long-term care. Use it to help you plan for your potential long term care needs and also to protect your loved ones from the expensive cost of care and the burden of taking care of you.
According to the latest poll by the Associated Press-NORC for Public Affairs Research, 37% of caregivers 40 years old and above feel unprepared to take on the role of caregiver while 53% of younger caregivers also have the same attitude towards family caregiving.
You can also check out our interactive map of the current long term care costs in all U.S states.
Invest in Security
While long-term care insurance fits perfectly in this scenario, only a few Americans managed to buy insurance. There are only 7.2 million Americans who have insurance for long term care out of about 40 million Americans 65 years old and above who are at high risk of requiring long-term care. Lack of foresight to get covered is partly to be blamed and misconceptions that Medicare and Medicaid will pay for long-term care.
Stop putting your retirement savings in jeopardy as well as the lives of your loved ones by getting long-term care insurance.
Read Next: Should I Buy Long Term Care Insurance Even If I Can Afford Care?
The Bottom Line
Some people are not comfortable relocating to another state for more affordable long-term care. However, you can’t ignore the fact that this move is practical and cost-effective since the cost of nursing homes, assisted living facilities, adult day care, and other facilities is skyrocketing.
But just because your state is here also means that you can already relax about planning for your future. You still need to plan for long-term care and get covered to make sure that you can handle the cost of long-term care. Use this free long term care quote engine to find affordable coverage for long term care.
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