Lincoln Financial Group (NYSE: LNC) is trying to get consumers to think more about long-term care (LTC) planning by using new cost data to create what the company hopes will be must-click interactive maps.
Consumers who visit Lincoln’s new What Care Costs site without help from a Lincoln LTC advisor see a collection of three basic summary “heat maps,” based on the new 2015 cost survey data from Long-Term Care Group Inc. (LTCG). These maps show which states are the least and most expensive for skilled nursing home care, assisted living facility (ALF) apartments and home health aides.
Consumers who have a sponsor code from a Lincoln LTC advisor can see detailed, sortable, searchable cost data for each state and metropolitan area.
The 2015 LTCG numbers show a continuation of recent LTC cost trends: On average, prices are high but increasing at a modest rate.
The average hourly fee for a home health aide increased just 1.7 percent, to $22 per hour.
The average annual cost of a year in a private room in a skilled nursing facility rose 2 percent, to $99,600.
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