The cost of long term care continues rising at a rate outpacing inflation creating significant financial planning challenges for the nearly 12 million Americans currently in need of long term care services. According to the Genworth (NYSE: GNW) 2014 Cost of Care Survey released today, the cost of receiving in-home care continues to rise, though at a more moderate rate of growth. This is good news for consumers as almost three quarters of people needing long term care prefer receiving it in their homes, according to Genworth’s extensive claims data (Long term care claims Experience Data for Genworth Life Insurance Company and affiliates – December 1974-June 30, 2013).
To view the Multimedia News Release, go to http://www.multivu.com/mnr/70631511-genworth-2014-cost-of-care-survey-results
