Are You Underestimating Your Long-Term Care Costs?
Plan ahead and start conversations now to avoid costly surprises
Published:
May 13, 2017
The average American underestimates the cost of in-home long-term care by almost 50%, according to the Genworth 2017 Cost of Care study.
Although this estimate is stunning, at Commonwise, we see costs surprise clients and their families on a regular basis.On average, home health care annual costs are significantly lower than facility options. Keep your family informed, and consider using the Genworth cost of care tool to estimate long-term care costs in your area.Plan ahead, and initiate conversations with your family about how you, or they, want to be cared for. Even if the discussion may feel uncomfortable in the moment, it will help you and your family plan for the future and make wise decisions when the time comes.The Commonwise team can help you determine what plan of care is best for your family. Whether you’ve planned ahead or haven’t had that luxury, we are ready to serve you. Contact us for more information about our services.