The World’s Population is Aging at a Faster Rate Than Ever Before
Every day until 2030, 10,000 Baby Boomers will turn 65, and 70% will require long-term care in their lifetime.
The cost of that care varies based on care setting, geographic location and level of care required, among other factors. One thing is true across the board though: senior care is expensive and it continues to increase year after year. Understanding these costs is the first step to helping you and your family plan for it.
To help your family prepare, here are the median annual costs by level of care and type of setting according to the 2020 Genworth Cost of Care Survey.
The Genworth Cost of Care Survey is released every year and is considered the industry standard for determining the average cost of senior care across the country.
