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

Expert says providers often wrongly threatened by PEPPER reports

Instead of fearing further scrutiny by federal authorities, providers should embrace the opportunity to get feedback in the form of PEPPER reports, legal experts said Monday at the LeadingAge annual meeting in Nashville.

Healthcare reform already driving diverse, dynamic long-term care models, LeadingAge leaders say

Healthcare reform already driving diverse, dynamic long-term care ...

One way to gauge the effects is healthcare reform is by looking at ongoing changes to the continuing care retirement community model, LeadingAge officials said Monday at the association's annual ...

Federal court: Nursing home can be sued for firing hairdresser who can ...

Is the ability to transport residents in their wheelchairs an essential function of a nursing home hairdresser? A federal appeals court says it's a valid question and is allowing a hairdresser to sue a facility that fired her.