No. of Recommendations: 7
First the good news. The median stay in a nursing home was 10 days, and the amount a 57-year-old needed to set aside to cover average lifetime out-of-pocket spending on nursing home care was $7,344, according to the study. Hurd is senior principal researcher and director at the RAND Center for the Study of Aging.

It would be great to be average. My dad spent nine years in a nursing home, with a monthly cost exceeding $10,000 the last few years. His LTC policy turned out to be essential.

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