The Role of Insurance - Retirement Savings Planning

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The average daily rate in 2004 for a private room in a nursing home was $192, an increase of 6% from 2003.
(Source: 2004 MetLife Market Survey of Nursing Home & Home Care Costs)

The average length of a nursing home stay is about 2.4 years.
(Source: CDC/NCHS Health Care in America; U.S. Department of Health and Human Services; January 2004)

At an average daily rate of $192, an average nursing home stay of 2.4 years costs about $168,000, making it virtually unaffordable for many Americans.