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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
March 04, 2002 at 07:00 PM
NU Online News Service, March 4, 2:04 p.m. – GE Long Term Care Insurance, San Rafael, Calif., says the average cost for a year in a nursing home in one of the 10 most expensive areas in the United States is about $80,000.
The national average cost is $54,900, GE says.
GE bases those figures on a survey of 2,462 skilled and intermediate care nursing homes. The homes were situated in all 50 states.
The survey asked about the cost of basic nursing home care for a person suffering from a disorder such as Parkinson’s disease. Results do not include the cost of therapy, rehabilitation, or medications.
The survey did not address the cost of care provided through home care, adult day care centers or assisted care facilities, GE says.
Although the average cost was high, rates varied widely, from a low of $52.14 per day at a nursing home in Montana to a high of $704 per day at a facility on an island in Alaska.
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