COST OF ASSISTED LIVING AND SENIOR LIVING

Assisted Living\ Remains More Cost Effective Than Skilled Nursing Facilities (Senior Living Executive, July/August 2011)

Assisted living costs have increased at a lesser rate than those of private skilled nursing facilities over the last nine years, and the annual cost of private skilled nursing facilities continues to be double that of assisted living, according to a study released by John Hancock Financial, a Canadian-based financial services group. Long-Term Care Cost of Care Survey gathered data from more than 11,000 nursing homes, assisted living providers, and home-health providers nationwide. The general findings indicated that although long-term care costs continue to increase, assisted living costs have increased at a rate of 3.4 percent per year compared with 3.5 percent for private rooms in skilled nursing facilities.

Key findings include:

• The 2011 average cost for a private room in an assisted living community is $3,270 a month or $39,240 annually.
• A private room in a skilled nursing facility cost the resident an average of $235 a day or $85,775 annually.
• A semi-private apartment in a skilled nursing facility cost the resident an average of $207 a day or $75,555 annually.

Read More:
Senior Living Executive, July/August 2011

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