BLOOMFIELD, N.J., Oct. 1, 2015 /PRNewswire/ — 70% of Americans 65 and over will need some form of long-term care in their lifetime, but most are unprepared for the high cost—with only 35% of Americans over 40 saving money for long-term care expenses. Long-term care services, paid for out-of-pocket if you don\’t qualify for Medicaid, include assistance with essential daily activities like bathing, dressing, and making meals. New Jersey seniors hiring a full-time caregiver through a home care agency can expect to pay on average $48,506 per year—a daunting expense considering the average 50 year old has $42,797 in retirement savings. The rising senior population will bring an unprecedented need for affordable long-term care services, which many seniors struggle to find.
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