Nursing home care is growing ever more expensive. Contact your elder law attorney to learn how you can protect some or all of your family’s assets.
For the first time, the median cost of a private nursing home room in the United States increased to $100,375 a year in 2018, up 3 percent from 2017, according to Genworth’s Cost of Care survey, which the insurer conducts annually
At the same time, Genworth reports that the median cost of a semi-private room in a nursing home is $89,297, up 4 percent from 2017. While significant, the rise in prices is not quite as steep as the 5.5 percent and 4.4 percent gains, respectively, in 2017.
But the median cost of assisted living facilities jumped 6.7 percent, to $4,000 a month. The national median rate for the services of a home health aide is $22 an hour, and the cost of adult day care, which provides support services in a protective setting during part of the day, rose from $70 to $72 a day.
Alaska continues to be the costliest state for nursing home care by far, with the median annual cost of a private nursing home room totaling $330,873. Oklahoma again was found to be the most affordable state, with a median annual cost of a private room of $63,510.
The annual cost of care in New Jersey is also quite steep. The annual cost of a private nursing home room is $142,350, up 3% in the past year. The annual cost of a semi-private nursing home room is $127,750, also up 3% in the past year. The annual cost of a one-bedroom apartment in an assisted living facility is $72,780. The annual cost of a home health aide who provides care in the home for 44 hours per week for 52 weeks is $54,912.
A graph of the costs in New Jersey follows:
The 2018 survey, conducted by CareScout for the fifteenth straight year, was based on responses from more than 15,500 nursing homes, assisted living facilities, adult day health facilities and home care providers. Survey respondents were contacted by phone during May and June 2018.
For more on Genworth’s 2018 Cost of Care Survey, including costs for your state, click here.
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