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The Cost of Elder Care Going Up

Older Americans in need of care face rising costs in Home Health Care, Assisted Living Facilities, and Skilled Nursing Facilities. A survey of 9,000 assisted living facilities, skilled nursing facilities, and home health agencies conducted for Genworth Financial, Inc. showed the following:

  • A private room in a skilled nursing facility costs $71,000 per year, up 2% over 2005
  • A private one-bedroom unit in an assisted living facility is $33,000, up 7% over 2005
  • The average hourly rate for a home health aide is $22.15, up 19% over 2005
  • For homemaker services, non-certified, licensed providers had hourly rates averaging $17.73, versus $16.84 a year ago.

Alaska and New York remained the highest-cost regions for nursing home care, while Louisiana, rural Missouri and Kansas were the lowest-cost regions. Cost of care in urban regions is, on average, 17 percent greater than in non- urban regions — a 5 percent increase over last year’s regional findings.

For more information, see the full report at:

http://www.genworth.com/genworth/index.jsp

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