Many families are unprepared for nursing home or long term care planning costs.

Many families are unprepared for nursing home or long term care planning costs, especially when they find out that Medicare doesn't pay for long-term care. The monthly cost in a private room at a nursing home, is approximately $9,000 per month in our area. The yearly cost is 12 months x $9,000 equals $108,000 per year. Medicare does not pay for long term care. Medicaid will pay for the nursing home, only when you have spent most of your assets. Assisted living is an option where the facility provides personal care services, such as meals, housekeeping and assistance with activities….

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