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August 04, 2015 at 07:29 AM
Long-term care (LTC) costs will likely go up over the next decade, but not quite as much as predicted last year.
Analysts at the Centers for Medicare & Medicaid Services (CMS) have included an adjustment in LTC spending forecasts in their new National Health Expenditures (NHE) forecast paper.
See also: CMS actuaries: Health premiums might be 6.4% higher
The last hard numbers the actuaries have are from 2013. The other numbers are estimates or forecasts.
The CMS actuaries now estimate that spending on nursing home care increased 2.8 percent between 2013 and 2014, to $160 billion, and that the cost of home health care increased 2.6 percent, to $82 billion.
That would be down from an actual 2.4 percent increase in nursing home spending in 2013, and an actual 3.4 percent increase in home health care spending.
