Cheyenne, Wy – An annual cost of care survey finds that Nursing home care has increased 14 percent since 2004 and other long term care costs continue to rise. The study was done by Genworth financial and an Ombudsman for Wyoming Seniors Inc. has no quarrel with the numbers. Charlie Simeno says costs should continue to rise and people need to be thinking about future savings. But he also suggests another step.
Simeno- Is long term care health insurance. That would pay for those initial years in nursing homes. You can pay for policies that will pay up to the first five years of nursing home care. Simeno says those in their 40's and 50's are the ones who should buy the insurance.