In 2016 there was a slight increase in the cost of nursing home care. “The median cost of a private nursing home room in the United States has increased slightly to $92,378 a year, up 1.24 percent from 2015, according to Genworth’s 2016 Cost of Care survey, which the insurer conducts annually. Genworth reports that the median cost of a semi-private room in a nursing home is $82,125, up 2.27 percent from 2015. The rise in prices is modest compared to the 4.2 percent and 3.8 percent gains, respectively, in 2015.” According to this article Alaska remains the costliest state for nursing home care while Oklahoma is the most affordable state. Nursing home care is an important expense to factor into estate planning because statistics show that the average life expectancy is going to continue to increase.
See Nursing Home Care Costs Are Only Slightly Higher in 2016, Elder Law Answers, May 12, 2016.
