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Most people will need long-term care at some point, but insurance is pricey. Here’s a guide to covering the expenses

Unless you maintain your health and mobility for the rest of your life, chances are you’ll eventually need some form of long-term care. Government estimates suggest that as many as 70% of older adults develop a need for long-term services and support before they die. Yet most adults haven’t taken any steps to prepare for it, according to a survey by the Kaiser Family Foundation.

The numbers are daunting. The average cost of a private room in a nursing home exceeds $100,000 a year, according to the Genworth Cost of Care survey. The cost of a home health aide averages more than $60,000. Medicare doesn’t cover long-term-care expenses, so many Americans are on their own to fund their care. The options include traditional long-term-care insurance (purchased on the private market or as an employee benefit), a hybrid insurance policy or annuity with a long-term-care component, or self-funding care from your savings — or, if you deplete your assets, you may qualify for Medicaid.