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Nursing Home Costs Rise 2%

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Assisted living and in-home long term care costs rose more sharply than nursing home care costs this year, according to Genworth Financial Inc.

The average annual cost for a private room in a nursing home rose to $70,912, or $194 a day, up just 2% from the 2005 figures, according to Genworth’s study of Medicare-certified nursing homes.

For semiprivate rooms, the annual cost also rose about 2%, to $62,532.

The average annual cost for a private 1-bedroom unit in an assisted living facility rose 7%, to $32,294, according to Genworth, Richmond, Va.

The combined average hourly rate for in-home LTC provided by a home health aide shot up 13%, to $25.32 per hour.

The hourly rate for certified home care providers climbed 17%, to $36.22 per hour.

A private room in a nursing home was most expensive in Alaska – $191,140 per year – and least expensive in Louisiana, at $42,304 per year.

The study, conducted by CareScout Inc., Wellesley, Mass., included more than 9,000 nursing homes, assisted living facilities and home care providers.