According to Genworth Financial’ s 2013 Long Term Care Survey, the national average cost of a semi-private room in a nursing home is $75,000, with it costing over $126,000 here in Massachusetts.
A recent study found that people who reach age 65 have a 45% chance of entering a nursing home. But many only stay a short while.
For example a 70-year-old gets a knee replacement and can’t take care of himself at home. He might spend several weeks in a nursing home to receive rehab after his surgery.
According to the Census Bureau, about 4% of the 65+ population occupy nursing homes at any given time. The rate of nursing home use increases with age and almost 50% of those 95 and older live in nursing homes "
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