About 42% of people who turn 65 this year will need nursing home care before they die and that care will not be cheap, says Robert Fleming, a principal at Fleming and Curti in Tucson, Ariz., and a speaker at the 2016 NAPFA conference in Phoenix.
The average price for a year of skilled nursing care in a semi-private U.S. nursing home room is just over $82,000 this year, though costs vary by region. Care in Texas, the least expensive area, runs around $55,000 a year. The annual cost in California is about $91,000; the same bed costs $148,000 a year in Connecticut and $292,000 in Alaska.
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