Ideally, picking a great place to retire might hinge on proximity to the grandkids, decent climate or a favorable tax law. But if you are among the Americans who may someday need long-term care (or will be in the position of providing or paying for such care for a family member), the list of best spots may look somewhat different.
"People don't plan, and then they are stunned when they figure out what this is going to cost," said Dayna Steele, chief caring expert for Caring.com (a Bankrate.com site).
Assuming no nursing home or home health costs — either because they are not needed or are paid for by another entity — 72.7 percent of those ages 55 to 59 have amassed enough savings to retire, according to an assessment from the Employee Benefits Research Institute. Including long-term care costs, only 57 percent of that age group is retirement ready.
New analysis from Caring.com ranked states based on a combination of factors including median cost of elder care services, facility reviews and support for caregivers. Here's how the top 10 fared against Bankrate.com's latest list of best states to retire, plus what you might expect to pay for care services based on 2015 data from Genworth's Cost of Care report.
— By CNBC's Kelli B. Grant
Posted 9 May 2016
South Dakota
Caring.com elder care ranking: 1
Bankrate.com retirement ranking: 2
Median annual cost, private nursing home room: $77,380
Median annual cost, home health aide: $52,006
Median annual cost, adult day health care: $18,720
Iowa
Caring.com eldercare ranking: 2
Bankrate.com retirement ranking: 8
Median annual cost, private nursing home room: $68,255
Median annual cost, home health aide: $52,624
Median annual cost, adult day health care: $15,600
Minnesota
Caring.com elder care ranking: 3
Bankrate.com retirement ranking: 14
Median annual cost, private nursing home room: $96,021
Median annual cost, home health aide: $57,200
Median annual cost, adult day health care: $20,267
Alaska
Caring.com elder care ranking: 4
Bankrate.com retirement ranking: 43
Median annual cost, private nursing home room: $281,415
Median annual cost, home health aide: $59,488
Median annual cost, adult day health care: $31,829
Oregon
Caring.com elder care ranking: 5
Bankrate.com retirement ranking: 48
Median annual cost, private nursing home room: $102,018
Median annual cost, home health aide: $51,480
Median annual cost, adult day health care: $23,010
Colorado
Caring.com elder care ranking: 6
Bankrate.com retirement ranking: 3
Median annual cost, private nursing home room: $93,531
Median annual cost, home health aide: $50,336
Median annual cost, adult day health care: $16,900
Hawaii
Caring.com elder care ranking: 7
Bankrate.com retirement ranking: 45
Median annual cost, private nursing home room: $135,050
Median annual cost, home health aide: $56,056
Median annual cost, adult day health care: $17,225
South Carolina
Caring.com elder care ranking: 8
Bankrate.com retirement ranking: 18
Median annual cost, private nursing home room: $75,008
Median annual cost, home health aide: $42,328
Median annual cost, adult day health care: $14,381
Nebraska
Caring.com elder care ranking: 9
Bankrate.com retirement ranking: 10
Median annual cost, private nursing home room: $79,570
Median annual cost, home health aide: $52,624
Median annual cost, adult day health care: $14,560
Wisconsin
Caring.com elder care ranking: 10
Bankrate.com retirement ranking: 13
Median annual cost, private nursing home room: $99,499
Median annual cost, home health aide: $50,336
Median annual cost, adult day health care: $16,900