Although rates charged for home-based long term care have been fairly level in recent years, nursing home costs have risen almost 5% annually from 2004 through 2007, according to Genworth Financial Inc.
Medicare-certified nursing homes in Genworth’s 2007 cost survey charged private-room rates averaging $204.95 a day, or $74,806 a year, up 5.5% from $194.28 a day in 2006, according to Genworth, Richmond, Va.
This year, rates for semiprivate rooms rose 5.5%, to $180.78 a day, or $65,985 annually, from $171.32 a day.
Among assisted living faculties, rates for single-bedroom units averaged $2,714.38 a month, or $32,572.56 annually, up about 1% over 2006′s daily rate of $2,691.20.
Nationally, the average hourly private care rate charged by a certified home care agency is $32.37, down almost 11% from the average for 2006.
Here are some other average rates for home care services: