7. Rising cost of long-term care insurance

The cost of care is higher in urban areas like New York City than in rural areas such as Athens, Ohio. The cost of a nursing home in Ohio is about $150/day, or close to $5000/month. In more populous areas, the figures are almost double. Home Health care is about $110/day for an eight-hour shift, or about $40,000/year. Adult day care provides custodial health care for those unable to be left alone when the primary care giver is at work or away. Adult day care costs about $65 a day, or about $17,000/year. Assisted living is independent living with help on standby if needed. Assisted living averages about $75/day or $27,000/year. The cost of long-term care is expected to double over the next decade as demand for services increase.