MetLife finds more LTC price increasesNews added by National Underwriter on November 12, 2012
National Underwriter

National Underwriter

Joined: April 22, 2011

By Allison Bell

Some researchers have found signs of moderation in long-term care (LTC) costs this year, but LifePlans has found that prices at the LTC providers it surveys are continuing to climb out of orbit.

The MetLife Mature Market Institute, a research center affiliated with MetLife (NYSE:MET) commissioned LifePlans to conduct its 10th annual LTC cost survey.

LifePlans polled 2,078 nursing homes, 1,513 assisted living facilities, 1,732 home care agencies, and 1,363 adult day services in all 50 states and the District of Columbia.

The average annual cost for adult day services held steady at $18,200, and the annual rate for home health aides held steady at $21,840, the researchers said.

But the annual cost of assisted living community housing increased 2.1 percent, to $42,600, and the annual cost of a private room in a nursing home jumped 3.8 percent, to $90,520.

The cost of a year of homemaker services increased 5.3 percent, to $20,800.

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