No one wants to go into a nursing home, yet many of us will. Few of us even want to discuss the possibility or plan for such an eventuality. However, proper planning may be a greater benefit for your family than any other single thing you do.
Some quick facts that you should know: the average cost of nursing home care on Long Island (Nassau and Suffolk Counties) is roughly $390 a day, while the average cost of nursing home care in Queens is $360 a day. Expressed as a yearly figure, privately paying for nursing home care will cost you and your loved ones approximately $142,350 if you live in Nassau or Suffolk County, and approximately $131,400 if you live in Queens County. Most people who enter a nursing home will remain there from 2 to 3 years. Such people, if they do not engage in any type of long term care planning, will be charged anywhere between $284,700 and $427,050 if they receive care in Nassau or Suffolk County, and between $262,800 and $394,200 if they receive care in Queens.
Contact us to find out what can be done to reduce the financial exposure that may occur because of the need for long-term care.