Most every statistic I've seen recounts the overwhelming desire most of us share: we want to continue living in our homes as long as possible.
Up until very recently, Federal payment plans seem to have been skewed in exactly the opposite direction. They seemed to encourage "nursing homes" as the only alternative.
Lately that's been changing.
Perhaps statistics like those below, reported in today's edition of "USA Today," have caught policymakers attention.
"Long-term care costs
Average cost of long-term care in 2006
Private room in a $206 a day
nursing home $75,190 annually
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Semi-private room $183 a day
in a nursing home $66,795 annually
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Home health care aide $19 an hour
Source: MetLife Mature Market Institute"
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In most cases, reverse mortgages can provide non taxable income to fund long term care needs.
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