The high cost of long-term health care will drag down the quality of life for nearly two-thirds of today’s retirees. It can cost $77,000 a year for a nursing home room and $20,000 for in-home care, expenses that many people are ill-prepared to absorb, said the Center for Retirement Research at Boston College. A new analysis shows that when the cost of health care and long-term care is included, 64 percent of retirees likely will be unable to maintain the lifestyle they had before retirement.... (David Pitt, Associated Press)

Labels: cost, lifestyle, long term care insurance, long term health care