Most people work their entire adult lives saving for retirement. Between stocks, annuities, and savings, they think they’re covered. Then a catastrophic illness or accident happens, and they’re forced to enter long-term care. And the average cost of a semi-private room is $9,167 per month. This can wipe out a savings quickly.
Although this scenario is scary to many people, the good news is only 4 percent of seniors end up in a nursing home. But for that 4 percent, it can spell a financial disaster. Medicaid is available, but at what cost? Can you keep your assets and income with Medicaid?
