Nursing home expenses continue to rise with the nationwide average increasing to $91,250 per year for private and just over $80,000 for semi private rooms. However, not all parts of the country carry the burden equally with the difference between the highest and lowest cost states being $220,000. As prices are expected to rise indefinitely, estate planners should be careful to take this potentially massive expense into consideration.
See Cost of Private Nursing Home Room Now Averaging $91,250, Elder Law Answers, Apr. 10, 2015.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
