Top 15 Most Expensive States for Long-Term Care: 2015

Paying for health care is a top boomer retirement worry — and in these states, it’s easy to see why

Nursing home care in the most expensive state costs more than $280,000 a year. Nursing home care in the most expensive state costs more than $280,000 a year.

Boomers are not happy campers when it comes to the cost of health care in retirement, and they have cause.

Genworth Financial’s annual study on the cost of long-term care highlights the way that costs have continued to rise. The study’s figures for the most expensive states in which to receive care certainly give weight to boomer fears.

An Insured Retirement Institute report has also found that boomers are the least confident they’ve been in five years about having enough money to get through retirement; one of the expenses causing the most worry is health care.

Fully 81% of boomers don’t feel financially prepared to cope with LTC needs, according to IRI. In addition, 28% are looking to postpone retirement until age 70 or later, because they don’t believe they have enough money to deal with the expenses, including health care, that retirement will bring.

Genworth’s study points out that LTC costs in other ways, too. It reports that 46% of unpaid family caregivers for those who remain at home end up footing a bill of more than $5,000 annually for a myriad of expenses, from last-minute grocery purchases to putting in grab bars in the shower for a loved one. Then there are the hefty demands on a caregiver’s time and attention, which can negatively affect everything from her job to her health.

LTC is expensive; no way around that. Since Genworth’s study provides insights on how much the cost varies from state to state, perhaps some people might want to contemplate relaocating to a state where care is more affordable — and there is a tremendous difference among states.

(Check out 15 Cheapest States for Long-Term Care Costs: 2015 on ThinkAdvisor.)

According to the senior living referral service A Place for Mom, prices for all types of senior living, including independent living facilities, hit record highs in 2014 — not a reassuring trend. In addition, facilities providing “memory care” (care for those with Alzheimer’s disease and other forms of dementia) and assisted living are increasing in cost in the West and Midwest faster than in other parts of the country.

For the 12th year, Genworth’s Cost of Care Survey, conducted by CareScout, provides not just the data, but includes a mobile app on Genworth’s website and an interactive map. The data, from more than 47,000 provider survey outreaches, comes 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.

 Keep reading for the 15 most expensive states for long-term care:

Portland Rose Festival Dragon Boat Race in Tom McCall Waterfront Park. (Photo: AP)

15. Oregon

Average Annual Cost: $55,338

Adult day care: $23,010

Licensed home care: $49,764

Assisted living: $46,560

Nursing home (private room): $102,018

Baltimore Inner Harbor.

14. Maryland

Average Annual Cost: $55,547

Adult day care: $20,540

Licensed home care: $44,616

Assisted living: $46,800

Nursing home (private room): $110,230

State Capitol in Bismarck. (Photo: AP)

13. North Dakota

Average Annual Cost: $55,805

Adult day care:$19,562

Licensed home care: $59,854

Assisted living: $38,865

Nursing home (private room): $104,938

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

12. Washington

Average Annual Cost: $58,196

Adult day care: $17,563

Licensed home care: $54,088

Assisted living: $55,500

Nursing home (private room): $105,631

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

11. Vermont

Average Annual Cost: $58,386

Adult day care: $32,136

Licensed home care: $48,048

Assisted living: $48,240

Nursing home (private room): $105,120

Downtown Providence.

10. Rhode Island

Average Annual Cost: $59,518

Adult day care: $17,290

Licensed home care: $53,768

Assisted living: $63,900

Nursing home (private room): $103,113

Changing the sign for a Lobster market in Maine. (Photo: AP)

9. Maine

Average Annual Cost: $60,923

Adult day care: $28,080

Licensed home care: $50,336

Assisted living: $57,600

Nursing home (private room): $107,675

Old Capitol building in Dover.

8. Delaware

Average Annual Cost: $62,648

Adult day care: $17,995

Licensed home care: $45,760

Assisted living: $68,940

Nursing home (private room): $117,895

The Corbin Covered Bridge in Newport, New Hampshire. (Photo: AP)

7. New Hampshire

Average Annual Cost: $63,326

Adult day care: $16,900

Licensed home care: $52,899

Assisted living: $61,230

Nursing home (private room): $122,275

Waikiki Beach in Honolulu.

6. Hawaii

Average Annual Cost: $63,797

Adult day care:$17,225

Licensed home care: $54,912

Assisted living: $48,000

Nursing home (private room): $135,050

Brooklyn Bridge with Manhattan in background.

5. New York

Average Annual Cost: $63,946

Adult day care: $22,100

Licensed home care: $48,048

Assisted living: $49,200

Nursing home (private room): $136,437

Seaside Heights Boardwalk. (Photo: AP)

4. New Jersey

Average Annual Cost: $66,237

Adult day care:$22,165

Licensed home care: $46,332

Assisted living: $68,700

Nursing home (private room): $127,750

Faneuil Hall in Boston. (Photo: AP)

3. Massachusetts

Average Annual Cost: $68,605

Adult day care: $16,900

Licensed home care: $54,340

Assisted living: $63,600

Nursing home (private room): $139,580

Hartford skyline.

2. Connecticut

Average Annual Cost: $72,896

Adult day care:$20,150

Licensed home care: $45,760

Assisted living: $66,900

Nursing home (private room): $158,775

Crabbers on the fishing grounds in southeast Alaska. (Photo: AP)

1. Alaska

Average Annual Cost: $110,291

Adult day care: $31,829

Licensed home care: $59,488

Assisted living: $68,430

Nursing home (private room): $281,415

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