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What is the best way to pay for expensive nursing home?
It's all over the news that nursing home costs have increased once again. Yesterday, I accompanied a friend in canvassing the rates of nursing home because she has a plan of moving her grandmother in the facility. Most of the nursing homes offer very expensive rates. Now my question is what are the techniques and financing options for my friend to afford nursing home
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You can self-insurance! But I warn you--this can wipe out all your assets. You can also ask support from your friends, colleagues and relatives. Your last option is to buy a long term care insurance.This type of insurance allows you to plan your daily or monthly benefits that should be spent for LTC needs.
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