The cost of long term health care is probably one of the greatest sources of anxiety for most retired or wanting to retire individuals. The following is a link to the Genworth website where you can get an idea of current prices (by state) for in home health care, assisted living care and nursing home care. There are a few choices: 1. self insure, 2. partially insure by buying Long Term Care Insurance or 3. plan to spend whatever assets you have then go on Medicaid. Please know that Medicare which is the healthcare benefit that covers Americans 65 and older does not cover in home health care. So if your goal is to stay in your home for as long as possible, you should consider LTC Insurance. The optimal time to buy is in your 50's to early 60's. At a certain point, the cost of insurance becomes prohibitive. Check out this link:
http://www.genworth.com/content/products/long_term_care/long_term_care/state_maps.html
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