Families face tough decisions as cost of elder care soars.

Like others faced with the stunning cost of elderly care in the U.S., Goldblum did the math and realized that her mother could easily outlive her savings. So she pulled her out of the home.

For the two-thirds of Americans over 65 who are expected to need some long-term care, the costs are increasingly beyond reach. The cost of staying in a nursing home has climbed at twice the rate of overall inflation over the last five years, according to the insurer Genworth Financial. One year in a private room now runs a median $91,000 a year, while one year of visits from home-health aides runs $45,760.

 

http://bigstory.ap.org/article/b8b8cf6745794229acaafb4ea767b76c/families-face-tough-decisions-cost-elder-care-soars

About Author: waseniorlobby