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Assisted Living Costs Soar, Families Struggle
Description
The cost of assisted living has surged to an average of $5,400 per month, a 4.4% increase from last year, with significant regional variations. Families primarily cover these expenses through personal savings, retirement income, and sometimes home equity or asset sales. Medicare doesnt typically cover assisted living, leaving individuals and families to navigate a complex financial landscape influenced by staffing shortages and rising operational costs.
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