Greylock Federal Credit Union

Get Proactive With Nursing-Home Expenses

by Michelle M. Haas-Dosher, CCUFC / February 7th, 2019

The United States Department of Health and Human Services estimates that 70% of Americans who reach age 65 will need long-term care for an average of three years. The average annual cost of nursing home care is about $82,000 a year or about $6,850 each month.

According to, health-care plans and Medicare insurance account for only a small percentage of the cost of nursing home care.

Be proactive

It’s hard to predict what health issues may arise. But even if you’re relatively healthy, budgeting for long-term health expenses is imperative. The key to protecting your nest egg from nursing home costs is to take steps before the need for care arises, according to Forbes:

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Printed Saturday, April 4, 2020

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