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

Also in the news for Oct. 23, 2014 . . .

ManorCare facility reaches $41,000 settlement over excluded nursing assistant ... Gait linked to Parkinson's-related dementia ... Automated tracking helps mandatory healthcare worker flu vaccination

CMS expands therapy payment research

The government is expanding its research into alternative therapy payments, to consider more holistic changes to the way Medicare reimburses skilled nursing facilities, the Centers for Medicare & Medicaid Services announced Tuesday.

CDC tightens Ebola guidelines for healthcare workers

The Centers for Disease Control and Prevention has issued more stringent guidelines for how healthcare workers should interact with Ebola patients, following an outcry from nurses and other professionals.