- posted 9 years ago
No recomendaions as to companies nor estimates, but here are some ballpark numbers to give some data. The study was done by the CCR, underwritten by Prudential.
"About one-third of individuals turning 65 in 2010 will need at least three months of nursing home care, 24 percent more than a year, and 9 percent more than five years.(1) In 2008, the annual cost of a nursing home was about $71,000 for a semi-private room and $79,000 for a private room.(2) Medicare pays for a maximum of only 100 days of nursing home care."
Apparently the average is around $260,000. I personally note that does not apply to those who elect to die suddenly. Apparently, 33% of the population will be in a nursing home for one year or more, 33% less than a year, and the rest have heart attacks worrying about how to pay for it all.
I believe 'the math' behind calculating insurance premiums versus insurance benefits is made a bit easier with good data. But, the $260,000 is only for those who pay medicare and/or private insurance. Hope the above is helpful to some.