Retirement News : Seniors : Long-term care costs rise 18 percent in Lower Hudson Valley

Long-term care costs rise 18 percent in Lower Hudson Valley

Date Added: 01-05-2008

Faced with the rise of costs of long term care, Lower Hudson Valley residents are turning to long-term-care insurance policies.  Read the excerpt below.

Lower Hudson Journal news - West Harrison,NY,USA

By David Schepp

April 30, 2008

LARCHMONT - As if Lower Hudson Valley residents didn't have enough to worry about with sharply higher prices for gasoline and food, new data show that costs associated with long-term care have also risen dramatically during the last five years.

The annual cost of long-term care rose to $129,570 in Westchester, Rockland and Putnam counties, the boroughs of New York City outside Manhattan and Nassau and Suffolk counties on Long Island, according to a study by Genworth Financial Inc.
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The nationwide study found that the cost of such care, provided in nursing homes, assisted-living facilities and in the home, rose for the fifth consecutive year.

Read the entire article:

http://lohud.com/apps/pbcs.dll/article?AID=/20080430/BUSINESS01/804300330/-1/newsfront