Americans acknowledge need for Long Term Care (LTC) Planning but not sure how they plan to address it. Approximately 80% feel that there is a greater need for LTC now that people are living longer and approximately 45% arent sure how they plan to address their own potential LTC needs. Five Hundred thousand dollars is the approximate average cost for five years in a private room in a Skilled Nursing Facility.
Nearly $725 billion is spent on Long-Term Care annually in the United States and $450 billion of that is the Unpaid Family Caregiving cost.
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