Long-term care costs continue to rise, though not at the same rate of other goods and services, a survey released Wednesday by John Hancock Financial found. The survey found that the increases in long-term care costs closely match the average annual rate of inflation of 4.1%.
The national average for a private room in a nursing home is $85,775 per year, and $75,555 for a semi-private room. The national average cost to stay in an assisted living facility is $39,240. At-home care costs averaged $20 per hour.
John Hancock calculated a nine-year average to track the increase in long-term care costs. According to the results, the average cost of a private nursing home room rose 3.5% per year, while the average cost for a month of care in an assisted living facility has risen 3.4% per year. The average cost of a semi-private nursing home room rose 3.2%, and the average hourly cost for a home health aide has risen just 1.3%.