Genworth: Nursing home costs rise 4.2%
By National Underwriter
By Allison Bell
Alaska and several Northeastern states continue to dominate the top of the U.S. long-term care (LTC) cost charts.
The long-term care insurance (LTCI) unit of Genworth Financial Inc., Richmond, Va. (NYSE:GNW), have included sobering nursing home price figures for those states in its ninth annual LTC cost survey report.
Another Genworth unit -- CareScout, Waltham, Mass. -- created the latest report by surveying about 15,300 U.S. LTC providers in all of the 437 metropolitan statistical areas defined for the 2010 U.S. census.
The median price for a private nursing home room has increased about 4.2% in the past year, to $222 per day, according to Genworth analysts.
Those figures mean that half of all private nursing home rooms in the United States cost more than $222 per day.
Median daily rates increased 3.6%, to $200, for a semiprivate nursing home room and 1.7%, to $61, for adult day health care services.
The median monthly rate for one person living in a one-bedroom assisted living unit rose 1.2%, to $3,300.
The hourly cost of a licensed home health aide held steady at $19.
Originally published on LifeHealthPro.com