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Saving Advice
Saving Advice
Lifestyle
Teri Monroe

Why Many Seniors Underestimate Long-Term Care Costs

cost of long-term care
Image Source: Shutterstock

Most retirees plan for health insurance, prescription costs, and Medicare—but few grasp the true financial weight of long-term care. Whether it’s home health aides, assisted living, or nursing facilities, the price of sustained care often exceeds expectations. Many seniors assume insurance or Medicare will cover it all, only to discover too late that coverage gaps are huge. Here’s why so many underestimate these costs—and how to prepare before they drain your savings.

1. Most People Don’t Realize Medicare Doesn’t Cover Long-Term Care

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