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.