![\"ACSIA](\"https:\/\/www.send2press.com\/wire\/images\/16-0627-ACSIA-Partners-600x450.jpg\")
\nIn July of 2005 the company calculated that the cost for a private room in a nursing home was \u201ceating\u201d two square feet of the average American home each day. Now the bites are 29 percent bigger, 2.6 square feet, according to Gott.<\/p>\n
KIRKLAND, Wash., Oct. 20, 2016 (SEND2PRESS NEWSWIRE) — The cost of care for aging Americans may be viewed as a glutton that devours homes in daily bites that are getting bigger. So says Denise Gott, CEO of ACSIA Partners, one of America’s largest long-term care insurance agencies. \u201cEleven years ago we started translating long-term care costs into square feet of real estate,” says Gott. \u201cWe did this to highlight the financial burden of paying for care.\u201d<\/p>\n
\nIn July of 2005 the company calculated that the cost for a private room in a nursing home was \u201ceating\u201d two square feet of the average American home each day. Now the bites are 29 percent bigger, 2.6 square feet, according to Gott.<\/p>\n
ACSIA Partners developed the estimate based on the following facts:<\/strong><\/p>\n The national average annual cost for a private room in a nursing home is now $92,376, according to the Genworth 2016 Cost of Care Survey, conducted by CareScout\u00ae. That’s about $253 a day, up from $192 in 2005.<\/p>\n The National Association of Realtors\u00ae reports that the median price for U.S. homes is now $240,200. With a median 2,476 square feet per home, according to the U.S. Census Bureau, that equals $97 per square foot, enough to pay for about a third of a day of nursing home care. In 2005, each square foot paid for about half a day, according to Gott.<\/p>\n The ratios vary by region and home type, of course. Here are some examples:<\/strong><\/p>\n Note that the less a home is worth, the bigger the relative LTC bite may be. For example, consider a 1,532 square-foot home for sale at $15,000 in Trenton, N.J. It would be “eaten” at the rate of 25.85 square feet a day. Note also that these estimates are very general. For example, in areas where homes cost more, the cost for LTC services may also be higher.<\/p>\n “If you’re not protected by insurance or savings,\u201d says Gott, \u201cfigure that for every day someone in your family needs care, there goes another chunk of your home.”<\/p>\n In fact, many Americans may be planning, by default, to pay for care with their home equity, Gott observes. \u201cThat\u2019s fine if it\u2019s a conscious choice and the best option in their case. We recommend, however, that they explore other options just to be sure.\u201d<\/p>\n The options recommended by Gott\u2019s organization include long-term care insurance, critical illness insurance, life insurance or annuities with long-term care riders, and other solutions ranging from health savings accounts to Medicare supplement plans.<\/p>\n Information is available at https:\/\/www.acsiapartners.com\/quote\/<\/a>.<\/p>\n ACSIA Partners LLC — https:\/\/www.acsiapartners.com<\/a> — serves organizations as well as families. The company is also a co-founder and sponsor of the \u201c3in4 Need More\u201d campaign — http:\/\/www.3in4needmore.com\/<\/a> — which encourages Americans to form a long-term care plan.<\/p>\n *LOGO for media:\u00a0Send2Press.com\/wire\/images\/16-0421-ACSIA-Partners-300dpi.jpg<\/p>\n","protected":false},"excerpt":{"rendered":" KIRKLAND, Wash., Oct. 20, 2016 (SEND2PRESS NEWSWIRE) — The cost of care for aging Americans may be viewed as a glutton that devours homes in daily bites that are getting bigger. So says Denise Gott, CEO of ACSIA Partners LLC, one of America’s largest long-term care insurance agencies.<\/p>\n","protected":false},"author":9780,"featured_media":1467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[105,546,216,353,354],"tags":[359,355,358],"class_list":["post-4079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance-news","category-kirkland-news","category-real-estate-news","category-senior-citizen-news","category-washington-state-news","tag-3in4-need-more","tag-denise-gott","tag-ltc-insurance","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":8442,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/4079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/9780"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=4079"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/4079\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/1467"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=4079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=4079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=4079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n