Top 15 Most Expensive States for Long-Term Care: 2014

A range of LTC services was used for Genworth’s 11th annual study to rank the states

The data span more than 14,800 LTC providers from 440 regions across the country. The data span more than 14,800 LTC providers from 440 regions across the country.

If you haven’t noticed the rising cost of health care, you must have been living in a cave. The cost of long-term care is no different, and as the nearly 80 million baby boomers age, how to pay for medical care occupies an ever-larger part of their retirement calculations.

Looking at Genworth Financial’s annual study on the cost of LTC provides insights on how much the cost varies from state to state. Since at least 70% of the over-65 population are expected to need LTC at some time in their lives, considering where to retire could play a large part in how affordable that care might be when the time comes.

For the 11th year, Genworth’s Cost of Care Survey, conducted by CareScout, uses data that span more than 14,800 LTC providers from 440 regions across the country, covering all 50 states and Washington, D.C. Also included are potential cost growth rates, as well as a look at how expenses in each category have risen over the past 5 years.

According to Tom McInerney, Genworth president and CEO, most Americans lack sufficient retirement savings to pay for such care, either because of a lack of conventional pension plans or too little socked away in 401(k)s.

(Related: Top 15 Cheapest States for Long-Term Care Costs: 2014)

“For the vast majority of Americans,” said McInerney, “LTC costs are not covered by Medicare and Medicaid provides coverage only after lifelong savings have been nearly exhausted. Given these factors, private LTC insurance remains one of the most effective ways for Americans to prepare for this potentially significant expense later in life.”

The categories included in the Top 15 Most Expensive States for LTC, are adult day care, licensed home care, assisted living and nursing home private rooms.

Philadelphia's Liberty Bell. (Photo: AP)

15. Pennsylvania

Average Annual Cost: $51,949

Adult day care: $15,181

Licensed home care: $45,760

Assisted living: $39,360

Nursing home (private room): $107,493

(Photo: AP)

14. Oregon

Average Annual Cost: $52,873

Adult day care: $18,720

Licensed home care: $48,048

Assisted living: $48,000

Nursing home (private room): $96,725

Balboa Park in San Diego, California.

13. California

Average Annual Cost: $54,798

Adult day care: $19,830

Licensed home care: $50,336

Assisted living: $45,000

Nursing home (private room): $104,025

A view of Seattle's Space Needle and skyline. (Photo: AP)

12. Washington

Average Annual Cost: $55,560

Adult day care: $17,443

Licensed home care: $51,777

Assisted living: $51,000

Nursing home (private room): $102,018

Castle Hill Lighthouse in Newport, RI.

11. Rhode Island

Average Annual Cost: $59,077

Adult day care: $17,160

Licensed home care: $50,908

Assisted living: $58,740

Nursing home (private room): $109,500

(Photo: AP)

10. Maine

Average Annual Cost: $60,281

Adult day care: $26,000

Licensed home care: $48,048

Assisted living: $59,400

Nursing home (private room): $107,675

(Photo: AP) 

9. Delaware

Average Annual Cost: $60,336

Adult day care: $13,000

Licensed home care: $49,192

Assisted living: $66,000

Nursing home (private room): $113,150

New Hampshire, Flume Gorge Bridge.

8. New Hampshire

Average Annual Cost: $60,390

Adult day care: $17,841

Licensed home care: $52,624

Assisted living: $52,470

Nursing home (private room): $118,625

The Statue of Liberty and the New York skyline. 

7. New York

Average Annual Cost: $60,577

Adult day care: $19,500

Licensed home care: $47,934

Assisted living: $44,205

Nursing home (private room): $130,670

Skier on the slopes at a Killington Resort, Vermont. (Photo: AP) 

6. Vermont

Average Annual Cost: $61,759

Adult day care: $35,100

Licensed home care: $52,624

Assisted living: $48,900

Nursing home (private room): $110,413

View of Jersey City from Liberty State Park.

5. New Jersey

Average Annual Cost: $62,976

Adult day care: $22,360

Licensed home care: $45,760

Assisted living: $65,160

Nursing home (private room): $118,625

Waikiki Beach in Honolulu, Hawaii.

4. Hawaii

Average Annual Cost: $65,819

Adult day care: $19,175

Licensed home care: $52,052

Assisted living: $57,000

Nursing home (private room): $135,050

3. Massachusetts

Average Annual Cost: $66,702

Adult day care: $16,900

Licensed home care: $52,624

Assisted living: $62,964

Nursing home (private room): $134,320

Hartford, Connecticut skyline. 

2. Connecticut

Average Annual Cost: $71,002

Adult day care: $20,800

Licensed home care: $44,616

Assisted living: $63,468

Nursing home (private room): $155,125

Valdez harbor, Alaska. 

1. Alaska

Average Annual Cost: $97,468

Adult day care: $26,845

Licensed home care: $56,125

Assisted living: $66,000

Nursing home (private room): $240,900

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