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U.S. long-term care costs rise 4.5% [Advisor.ca (Canada)]

GENWORTH FINANCIAL (GNW)  More Company Research Source: Advisor.ca
Last genworth financial earnings: 7/31 05:10 pm Check Earnings Report
US:NYSE Investor Relations: genworth.com/corporate/investors.html
PDF Long-term care costs are surging again and the most expensive option — a private nursing home room — may soon top $100,000 per year. Growing labour expenses and sicker patients helped push the median cost of care, which includes adult day care and assisted living communities, up an average of 4.5% this year, according to a survey by Genworth Financial. That’s the second-highest increase since Genworth started its survey in 2004. Read:  Tax support for clients with disabilities The cost of home health aide services climbed the most, rising 6%, to $21.50 an hour. Private nursing home care now costs more than $97,000. Many Americans don’t plan for these expenses or understand them until they face them, says Joe Caldwell of the National Council on Aging, which is not tied to the study. “People don’t like to think about it and talk about it ahead of time, so they kind of put off planning and saving for it financially because they don’t think it’s going to h [Read more]

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