Podcast Center
Video Center
Webcasts
Resource Center
Events
April 02, 2006 at 04:00 PM
The average annual cost for a private room in a nursing home rose to $70,912, or $194 a day, up 2% over $69,400, or $190 a day, last year, according to a Genworth Financial annual survey of LTC costs.
However, assisted living and in-home costs rose more sharply than nursing home care this year, Genworth’s study of Medicare-certified nursing homes showed.
For semi-private rooms, the annual cost rose to $62,532, compared to $61,000 in 2005, a rise of more than 2%.
The annual cost of an assisted living facility in a one-bedroom unit climbed almost 7% in the period, from $30,265 in 2005 to $32,294 this year, said Richmond, Va.-based Genworth.
The combined average hourly rate for in-home LTC provided by a home health aide shot up 13% to $25.32 per hour, from $22.43 a year ago.
In-home care prices in 2006 varied as follows:
o $36.22 per hour for certified home care providers, up 17%;
o $22.15 per hour for licensed but noncertified providers, up 19%;
o $17.57 per hour for noncertified, unlicensed providers, about the same as in 2005.
The main reason for the strong increase in home care was simply a case of supply and demand, said Neal McGarity, a Genworth spokesman.
