Your Parents' Long-Term Care Could Cost $10,000 a Month—Who's Really Going to Pay?

Core Insights - The rising cost of nursing home care is increasingly influencing families' decisions regarding the placement of older relatives in such facilities [2][4]. Cost Analysis - The average annual cost of nursing home care in the U.S. is approximately $111,325 for a shared room and $127,750 for a private room in 2024, translating to about $9,150 and $10,500 monthly respectively [4] - In Alaska, the highest statewide average nursing home cost reaches $364,453 annually, or $29,955 monthly, while Texas, the lowest, averages $85,045 for a private room and $65,700 for a shared room annually [4] - Monthly costs can range from $5,000 to $30,000 depending on the market, with families often needing to pay out-of-pocket after Medicare coverage ends [7] Medicare Coverage - Medicare covers nursing home costs fully for the first 20 days after a qualifying hospital stay, after which it requires a copay of $209.50 per day until day 100, beyond which all costs are the patient's responsibility [8][9] - Medicare is primarily designed for short-term rehabilitation rather than long-term care, which limits its utility for families considering nursing home placement [9]