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Portfolio > ETFs > Broad Market

LTC Rates Continue To Rise

By staff Writer

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The recession may be depressing prices for some goods and services, but the cost of nursing home care, home health care aides and assisted living services is still going up.

Researchers at the MetLife Mature Market Institute, Westport, Conn., have published that finding in their latest LTC cost report.

Researchers at the MetLife Mature Market Institute, Westport, Conn., have published that finding in their latest LTC cost report.

Another firm collected the price data by surveying LTC providers throughout the United States from July through October.

The cost of a private nursing home room increased 3.3%, to $219 per day, or $79,935 per year, and the cost of staying in an assisted living facility rose 3.3%, to $3,131 per month, according to the mature market institute, which is backed by a unit of MetLife Inc., New York (NYSE:MET).

Home health care aide costs increased 5%, to $21 per hour.

Costs varied widely from market to market.

Daily rates for a private room in a nursing home ranged from $132 in Louisiana, the least expensive state, to $584 per day in Alaska, the most expensive.

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