The 2012 Genworth Cost of Care Survey has been released and it continues to document the increasing cost of long-term care. The survey divides Virginia by its metropolitan statistical areas (MSA) with Roanoke and Danville being the MSA's closeest to us.
In the Danville area, one can expect to pay over $43,000 annually for an assisted living facility, an increasde of 28%. Nursing home long term care for a semi-private room is on average almost $75,000 a year and a private room can cost over $83,000!!! That is an 11% increase over last year.
In the Roanoke area, an assisted living facility averages $38,100 while a semi-private room in a nursing home averages just over $72,000 and a private room just over $79,000.
Thinking about in-home care? Those costs are increasing as well, with the average cost for a caretaker running $14 to $18 an hour.
These rising costs make the process of estate planning and asset protection even more important! Don't keep putting it off until it's too late. Call Brandy to schedule a free consultation today!