Average Costs of Private Nursing Homes Tops $75,000

Recent costs in the U.S. say that the average cost of a private care facility and a private room can be over $75,000 per year.

A lot of money.

What can you do?

In Canada, remember that there are lots of publicly funded facilities that do not cost that much, they are either income or income plus asset based costs. The care is excellent in many publicly funded facilities, but the look and luxe may not be there. Remember too, that many people do not need a "Nursing"Home, they need help with personal care. This can be a lot cheaper, even in the private sector.

Consider LTC insurance, a line of credit on a home, getting in-home help (average costs about $19.00 per hour).

Look at your needs and what the future may hold for you. What other alternatives, such as assisted living, or family care homes, may work for you.

You might also consider selling one or more of those pesky adult children who keep on telling you to move to a nursing home. They make great wall ornaments in the right setting, and can also be programmed ( you know that, because they keep telling you the same thing over and over again).