Top 15 Most Expensive States for Long-Term Care: 2016

Genworth survey identifies the states with highest annual care costs

As your clients approach retirement, they may worry about whether they’ll be able to survive financially if they need long-term care — or need to provide it for a family member.

The latest edition of Genworth Financial’s annual study on the cost of long-term care will provide no comfort on that score. Costs have continued to increase at a substantial rate, and the annual cost for care in the priciest states are enough to give anyone pause—particularly if their retirement nest egg isn’t very large; a single year’s care in a nursing home can eat up every cent that many people have saved.

The only “good” news this year, the 13th of the study, by Genworth, an insurer that provides long-term care coverage, is that the cost for adult daycare has actually declined since 2015, falling 1.25%. But that’s small consolation, considering that adult daycare has experienced a five-year annual growth rate of 2.53%. Only nursing home care has had a higher cost growth over the same period, at 3.51% for a private room.

(Check out last year's numbers in Top 15 Most Expensive States for Long-Term Care: 2015 and 15 Cheapest States for Long-Term Care Costs: 2015.)

There’s no denying LTC is expensive, whether provided by a hired health care worker or residence in an assisted living facility or nursing home. But even if the primary caregiver is a member of the family, and the patient is not receiving paid care but is still at home (or in the caregiver’s home), the cost can still be high to the caregiver.

First there’s the financial cost — outside of any actual medical care that may be covered by an insurance policy, caregivers who also provide financial assistance to their loved ones estimate that it costs them an average of $10,000 in out-of-pocket expenses. That can include household expenses, personal items, transportation, or even informal caregivers or LTC facilities. Often that money comes out of the caregiver’s own retirement savings or daily budget, cutting either their present or future standard of living.

Then there’s the emotional and physical toll. Although 83% of caregivers said they experienced some positive feelings about caring for a loved one, 43% said the LTC event negatively affected their personal health and well-being; 41% experienced negative physical side effects, such as depression; nearly 33% reported an extremely high level of stress; and 55% did not feel qualified to provide physical care.

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.

Of course, care costs considerably more in some states than in others. Following are the 15 most expensive states for LTC:

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

15. Oregon

Average Annual Cost: $58,256

Adult day care: $24,310

Licensed home care: $52,624

Assisted living: $48,780

Nursing home (private room): $107,310

Lombard Street in San Francisco.

14. California

Average Annual Cost: $58,747

Adult day care: $20,020

Licensed home care: $54,912

Assisted living: $48,000

Nursing home (private room): $112,055

Seattle Seahawks Fans (Photo: AP)

13. Washington

Average Annual Cost: $59,047

Adult day care: $17,680

Licensed home care: $56,834

Assisted living: $54,000

Nursing home (private room): $107,675

Lobster boats in Portland.

12. Maine

Average Annual Cost: $62,634

Adult day care: $28,080

Licensed home care: $54,340

Assisted living: $59,892

Nursing home (private room): $108,223

Castle Hill Lighthouse in Newport.

11. Rhode Island

Average Annual Cost: $62,711

Adult day care: $19,500

Licensed home care: $57,200

Assisted living: $59,169

Nursing home (private room): $114,975

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

10. Vermont

Average Annual Cost: $62,721

Adult day care: $32,032

Licensed home care: $53,768

Assisted living: $58,320

Nursing home (private room): $106,763

State Capitol in Bismarck. (Photo: AP)

9. North Dakota

Average Annual Cost: $63,386

Adult day care: $20,215

Licensed home care: $63,972

Assisted living: $40,080

Nursing home (private room): $129,276

Old Capitol building in Dover.

8. Delaware

Average Annual Cost: $63,506

Adult day care: $17,030

Licensed home care: $53,768

Assisted living: $64,416

Nursing home (private room): $118,808

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

7. New Hampshire

Average Annual Cost: $64,093

Adult day care: $18,200

Licensed home care: $57,200

Assisted living: $57,600

Nursing home (private room): $123,370

Brooklyn Bridge with Manhattan in background.

6. New York

Average Annual Cost: $65,406

Adult day care: $23,400

Licensed home care: $52,624

Assisted living: $49,635

Nursing home (private room): $135,963

Seaside Heights Boardwalk. (Photo: AP)

5. New Jersey

Average Annual Cost: $66,418

Adult day care: $22,100

Licensed home care: $50,336

Assisted living: $59,400

Nursing home (private room): $133,835

Waikiki shoreline in Honolulu.

4. Hawaii

Average Annual Cost: $66,533

Adult day care: $17,550

Licensed home care: $57,772

Assisted living: $49,500

Nursing home (private room): $141,310

Beacon Hill in Boston.

3. Massachusetts

Average Annual Cost: $71,010

Adult day care: $17,116

Licensed home care: $57,200

Assisted living: $65,550

Nursing home (private room): $144,175

A statue of the Spirit of Victory in Bushnell Park in Hartford. (Photo: AP)

2. Connecticut

Average Annual Cost: $72,836

Adult day care: $21,008

Licensed home care: $50,336

Assisted living: $59,400

Nursing home (private room): $160,600

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

1. Alaska

Average Annual Cost: $114,767

Adult day care: $26,624

Licensed home care: $59,442

Assisted living: $81,000

Nursing home (private room): $292,000

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