Long term care costs defy deflation

For the purposes of the study, assisted living communities were grouped into three categories: “basic,” with five or fewer services; “standard,” with six to nine services; and “inclusive,” with 10 or more services. Study results determined that more communities were classified as “standard” and fewer as “basic” as compared to the previous year. The study also revealed that patients in an assisted living community who suffer from Alzheimer’s disease can expect to pay more for their care, with an average monthly cost of $4,435.

Said Sandra Timmermann, director of the MetLife Mature Market Institute, “These across-the-board increases may be surprising to many given the economy over the past year. But, while the Consumer Price Index decreased overall during the past year, costs for medical care are 3.3 percent higher, which parallels our findings on long term care. The change in pricing methods at some assisted living communities may be another factor, a warning to consumers to carefully compare prices at all long term care service facilities by considering both the base price and the add-ins for additional services.”