A couple of weeks ago, the Star Tribune editorialized (in favor) of Minnesota’s effort to get citizens to think about how they might afford an extended stay in a nursing home or other assisted-living situation, something that, all hopes to the contrary, many of us will face at some point. The implications are not just personal; such care will be a significant driver of the nation’s health care cost burden.
Here's the relevant state website. If you’d like another perspective on the topic, from a publication who mission it is to help you build and protect your personal finances, check out “How to Pay for Long-Term Care,” from this week’s issue of Barron’s. The article may be of value even if you’re not in Barron’s target audience.
David Banks is the Star Tribune's assistant commentary editor.