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Costs of Assisted Living, Nursing Homes Rise

MoneyToday, Genworth Financial, Inc. released its 2013 Cost of Care Survey, which details the costs of home care services and long-term care facilities.

Nationally, the 2013 median hourly cost of homemaker services and home health aide services is $18 and $19 respectively, the company said. Homemaker costs have risen just 1.4 percent since 2012 and 0.8 annually over the past five years. Home health aide services have risen 2.3 percent since 2012 and 1.0 percent annually over the past five years.

The costs to receive care in an assisted living facility are rising much faster, the company reported. The median annual cost for care in an assisted living facility is $41,400. This represents an increase of 4.6 percent since 2012 and a 4.3 percent annual increase over the past five years. The comparable cost for a private nursing home room rose 3.6 percent from 2012 to 2013, to $83,950, or 4.5 percent annualized over the past five years.

The national average in 2013 for the daily cost of adult day centers was $65 a day, up 6.6 percent since 2012 but up an average of only 1.6 percent a year since 2008. You can view the full Cost of Care report here.

How are you keeping up with the costs of care? Are you surprised by these figures? Please share your thoughts in our comments section, below.

About Denise Brown

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I began working with family caregivers in 1990 and launched CareGiving.com in 1996 to help and support them. Through my blog, I share words of comfort and offer coping strategies and tips. I also write opinion pieces about recent research, community programs and media coverage of caregiving issues.

One comment

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    My grandmother spent time in an assisted living facility on two separate occasions. Thankfully she had Medicaid or we wouldn’t have been able to afford it.

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