Northwestern Mutual Life Insurance Company has published evidence hinting that the cost of nursing home care in Alaska might be a little lower than it used to be.
Northwestern Mutual, Milwaukee, recently joined the list of long-term care insurers (LTCI) that commission national long-term care (LTC) cost reports.
The Long Term Care Group Inc., Eden Prairie, Minn., came up with the cost data for the Northwestern Mutual survey report by polling about 4,400 nursing homes, assisted living facilities and home health care providers.
Like other carriers, Northwestern Mutual is reporting that Alaska has the highest nursing home rates, but its $526 average daily rate for Alaska nursing homes -- which works out to about $192,000 per year -- is actually lower than the rates other carriers have reported.
Prudential Financial Inc., Newark, N.J. (NYSE:PRU), found about a year ago that Alaska nursing home care was costing about $232,000 per year, and MetLife Inc., New York (NYSE:MET), pegged the cost at about $239,000.
Genworth Financial Inc., Richmond, Va. (NYSE:GNW), came up with a figure of about $202,000.