I have written in the past about the expense incurred when my Father-in-law was suffering from Parkinson’s. He passed away 4 years ago. At that time, we could not believe how much his care cost. Well, those expenses were nothing compared to the expense of long term care now.
A recent study conducted by Genworth Insurance uncovered the following current expenses associated with long term are:

While the U.S. inflation rate was 2.1 percent for the first half of the year, the cost of a one-room assisted living facility grew by 6.67 percent from 2017 to 2018.
There, the annual median cost of a nursing home stay in a private room is $330,873, Genworth found.
Assisted living facilities offer residents more independence and less medical care and assistance than nursing homes.
For individuals who’d like to receive care at home and still live largely on their own, there’s the option of having a home health aide come to visit.
Indeed, home-health aides are expected to be a growing job sector, with a projected growth rate of 41 percent from 2016 to 2026, but median annual wages of $23,210, according to the Bureau of Labor Statistics.

My Father-in-law had some insurance to cover some of his care, the rest had to come out of pocket.
Prepare by identifying how you’d like to receive care.

disclosures:http://www.hechteffect.net/?page_id=31