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:

7/29/2014
Federal Agency Activity, Medicare, Medication Management
The Centers for Medicare and Medicaid Services is altering rules designed to prevent it from paying twice for the same prescriptions for seniors who r...
7/15/2014
Retirement planning is paramount for everyone and especially for families considering senior living options. Life Care Funding CEO and company co-f...
7/9/2014
Health Care, Home Health Care, Medicaid, Medicare
The Centers for Medicare & Medicaid Services is proposing a policy change that would remove a requirement for certain homebound Medicare beneficiaries...
6/25/2014
Federal Agency Activity, Health Care, Medicaid, Medicaid, Medicare
A program that recruits and trains retired professionals and other older Americans to recognize and report instances or patterns of health care fraud ...
6/17/2014
A new study shines light on challenges riddling California’s diverse aging population when it comes to long-term care in the Golden State.
04/10/2013


Resources