Lately, there are increasing reports of the effects of inflation throughout the economy.  But one often overlooked corner of the economy is long-term care.  An important part of any financial plan includes long-term care insurance, but how can you plan if the numbers keep changing?

Here are some of the recent facts and figures released in a recent Genworth survey of long-term care costs across the country:

• Costs range from $45,000 in Louisiana to $187,000 in Alaska.  Some remote areas can have extreme cases where costs are much higher than even the next market-over.  Try to think of where you plan to stay and remember that staying in some remote areas may be cost prohibitive.
• It is recommended that clients look into long-term care insurance when they are about 50.  The premiums are still reasonable.  Currently long-term care insurance has about a 7% penetration in this market, with 1/3 of the clients using their policy for a claim.
• Some Genworth policies are starting to pay for family members to care for loved ones, as the long-term care workforce is not growing as fast as demand.