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As one gets closer to his retirement years, he can’t help but feel excited over the fact that he will be able to do all the things which he never had the time to do before. Work really has its way of demanding so much of people’s time. So, for those who are almost to their golden years this should be a call for celebration. Those in their mid 50s have presumably purchased a long term care (LTC) insurance policy already having knowledge of baby boomers’ upheaval over the possibility of another increase in premiums and long term care costs by state. Perhaps, the only question at hand now is who was wise enough to have taken the time to canvas the best places to grow old? Although nobody has directly told the aging population to pick the most affordable city or state to live in when it’s time for them to retire from work, the fact that they were advised to check out how much LTC facilities cost in their place before buying an LTCI policy is synonymous to that already. The productivity or unproductiveness of senior citizens during their retirement years will depend on the long term care costs by state. In some areas of the country, the rates of care giving facilities are flat or have remained steady. While residents of other states have seen how the median rate of a private nursing home room has increased by as much as 4.8% or 5.7%. As of late, the national median annual rate of a private room in a nursing home is slightly over $77,000. However, if you choose to retire or spend your later years in Nebraska you’ll be among the baby boomers in this part of the country who are looking forward to paying less than 10% of this given price, as a private nursing home room in this state would only amount to $68,557 annually. Meanwhile, if your family does not have a history in any debilitating illness, and so far you can already picture yourself in the home care setting and never in a nursing home, West Virginia could be the ideal place for you. Aside from offering affordable home health aide, which currently cost $33,176 annually, West Virginia is truly conducive for the aging population as it is famous for its best retirement communities. Why Consider Long Term Care Costs by State? It’s true what most economists say that one’s expenditures during his heyday could be equal if not close to his expenses when he turns old and frail. This being a fact, it is important to plan where you want to spend your retirement years. After all, growing old should not only mean spending for LTC. This is the point wherein you must be able to enjoy life to its fullest. You practically spend days and nights working hard to be able to put up a nest egg so by the time you retire, try to find some place that will offer you beautiful sceneries, commodities and services at a reasonable price. Research and compare long term care costs by state at CompleteLongTermCare.com. Visit our website to get more information on the provisions of CLASS Act.
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