Increases in Long-Term Care Costs

According to the 2011 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs, the cost of long-term care is continuing to increase. Some of the figures published in the survey are below:

• Private nursing home room rates increased 4.4% to $87,235 a year ($239 per day)
• Semi-private nursing home room rates also increased 4.4% to $78,110 a year ($214 per day)
• Semi-private nursing home rooms in an Alzheimer’s wing increased to an average of $81,030 a year
• Assisted living facility costs increased 5.6% on average to $41,724 a year ($3,477 per month)
• Adult care services costs increase 4.5% to $70 per day
• The cost of private nursing home rooms and assisted living in 2011 was highest in Alaska and Washington, D.C., respectively.
• The lowest private nursing home rooms and assisted living rates were in Louisiana and Arkansas, respectively.

See Average Cost of Private Nursing Home Rooms Tops $87,000 a Year, Elder Law Answers, Oct. 25, 2011 (citing 2011 MetLife Market Survey of Nursing Home Assisted Living, Adult Day Services, and Home Care Costs).

Special thanks to Jim Hillhouse (WealthCousnel) for bringing this article to my attention.