Genworth: LTC Costs Continue To Rise

HNWElder Law, Estate Administration and Probate

The average annual price of a private U.S. nursing home room has increased to $76,460 this year, up 2% from the 2007 average.

Researchers at Genworth Financial Inc., Richmond, Va., have published that finding in a summary of results from their latest survey of nursing homes, assisted living facilities, home care providers and, for the first time, adult day care providers.   A total of about 10,000 providers participated.

The cost of a semiprivate nursing home rose 4%, to $68,408, while the cost of an hour of care from a non-skilled home health aide held steady at about $19, the Genworth researchers report.

The hourly cost of care by a skilled, Medicare-certified provider increased 18%, to $38.
Adult day care cost about $59 per hour.

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