Close up image of a caretaker helping older woman walk

The monthly costs of a stay in a skilled nursing facility continued to grow in 2017, with the average monthly rate of a private room topping $8,000, according to Genworth’s annual Cost of Care survey.

The survey’s results, published Tuesday, found private room rates up 5.5% since 2016, for a total of $8,121 per month. That’s compared to a $7,698 average monthly rate reported by last year’s survey.

Rates for semi-private rooms also jumped during 2017, reaching $7,148, the survey found. That’s more than a 4% increase from 2016’s $6,844 monthly rate.

Those rates continue to rise, Genworth noted, due to a combination of high labor costs and stricter Medicare rules driving sicker residents into skilled nursing facilities. Residents’ shorter hospital stays and higher acuity have required higher costs to cover their chronic conditions, according to the insurance provider.

The American Health Care Association told McKnight’s Long-Term Care News that the group was still reviewing the survey’s findings, but that “the long-term care community continues to strive for providing the highest quality care at the most affordable cost.” LeadingAge declined to comment on the survey.

The results of a consumer survey also published by Genworth this week showed that two-thirds of respondents believe government programs will cover all or part of their long-term care costs. That finding shows that “our population is aging, living longer, and not prepared,” said David O’Leary, president and CEO of Genworth’s US Life Division.