Loading Please wait, logging in.
Join ALFA Member Login RSS Feed
Tagline Image
Bookmark and Share  

Report Highlights Consumer Costs for Long Term Care Options

A new report reveals that the median cost of a room in an assisted living community is less than half the median cost of a private room in a skilled nursing facility. The report surveyed almost 15,000 long-term care providers across the United States.

Genworth Financial released its annual report analyzing long-term care costs across the nation. According to the report, the median annual rate for a resident of an assisted living community is $41,400.  The median annual rate for a private room at a skilled nursing facility is $83,950, while the median annual rate for a semi-private room is $75,405. These figures continue a trend that has carried on for several years. The cost of assisted living has seen a steady increase of 4.26 percent annually over the last five years, while the cost of a private room at a skilled nursing facility has seen an annual growth of 4.45 percent during the same time period.

The survey also documented state-by-state data. Alaska has the highest private room skilled nursing costs and Oklahoma has the lowest. The median rate for a private room at a skilled nursing facility in Alaska costs $255,891 annually, while the rate in Oklahoma is $55,360. Alaska, with a median annual rate of $72,000 has the highest rate for assisted living, while Missouri has the lowest rate, $27,450 annually.

Read the full report: The Genworth 2013 Cost of Care Survey.



Suggested Articles:

5/20/2015
The White House Conference on Aging has released a retirement security policy brief focusing on issues related to Social Security, increasing retireme...
4/28/2015
The average American is now spending about 20 years in retirement, noted Consumer Finance Protection Board Director Richard Cordray in remarks at a Wh...
4/28/2015
Social Security announced a new strategic plan, Vision 2025. The vision is designed to serve as a guide for the agency and show how it will accomplish...
4/21/2015
Business Planning, CEO, cheatsheet, Competitive Positioning, Facts and Figures, Financing Senior Living Consumer Education, Reports
Genworth Financial has released its long-term care 2015 Cost of Care survey, revealing that the median cost of living in a private room in an assisted...
4/15/2015
Federal Agency Activity, Medicare
The Centers for Medicare and Medicaid recently revised rules relating to hospice care patients who are Medicare beneficiaries. Upon electing hospice c...
04/10/2013


Additional Resources