Median cost of a private nursing home room now exceeds $87,000 a year, Genworth survey finds

Share this article:
Median cost of a private nursing home room now exceeds $87,000 a year, Genworth survey finds
Median cost of a private nursing home room now exceeds $87,000 a year, Genworth survey finds

The median annual cost of a private nursing home room in the United States has increased to $87,600, according to the latest annual survey from insurance company Genworth. This represents a 4.4% increase from a year ago.

The median price for a semi-private nursing home room increased by 2.62%, reaching $77,380 a year, according to the report.

The cost of nursing care surged more dramatically than the cost of assisted living, which ticked up 1.45% since Genworth's last report. The monthly median rate for assisted living now is at $3,500, according to the latest figures.

Alaska once again ranked as the most expensive state for nursing care. Yet, the median annual cost of a private room fell significantly in that state, by around $15,000, to $240,900.

Oklahoma, the state with the most affordable long-term nursing care, experienced a slight increase in median cost of a private room, which went up to $57,488.

This is the eleventh year Genworth has compiled a cost of care survey. The company says it is based on information from more than 43,300 providers nationwide.

Click here to access the 2014 report.

Share this article:

More in News

Breier named new CEO at Kindred

Breier named new CEO at Kindred

Kindred Healthcare announced Thursday that it has chosen a new top executive to lead its push toward creating a mammoth national brand. Benjamin A. Breier, the company's current president and ...

Proposed managed care rule could accelerate shift away from nursing home care, official suggests

Proposed managed care rule could accelerate shift away ...

Proposed regulations slated for early 2015 likely will affect how Medicaid managed care balances home- versus facility-based long-term care, news sources reported Wednesday.

Assisted living residents say 'homelike' setting not so important

Contrary to conventional wisdom, assisted living residents might not place a high value on how "homelike" their surroundings are, suggest findings out of St. Catherine University in St. Paul, MN.