Recently, the MetLife Mature Market Institute released its annual survey of long-term care costs including national and state specific data on nursing home, assisted living, and home care costs. The survey (found here) exposed some not so surprising trends with particularly concerning implications for Massachusetts seniors: the cost of long-term care is rising, and it’s more expensive in Massachusetts than most other areas.
Long-Term Care Survey Highlights:
In Massachusetts, the average daily rate for a private room in a nursing home is $360, while a semi-private room is$336. The average monthly base rate in a Massachusetts assisted living community is $4,660. Both rates significantly eclipse national averages.
The message is clear: Massachusetts seniors and their families need to plan ahead for long-term care costs before it is too late. Securing a comfortable and dignified existence should not be out of reach for any Massachusetts senior. By protecting assets, utilizing publicly available resources and planning strategically for the use of private funds, your family can help protect what’s most important to you. Call the Heritage Law Center to discuss your options for long-term care planning.