Nursing home room cost jumps 15%, national study finds
The average national cost of a private room in a nursing home in 2007 increased by 15%, to $74,806, compared to 2004, according to survey results. That rise is in line with other segments of long-term care.A one-bedroom assisted living unit increased by more than 13%, to an average cost of $32,573, according to the 2007 Cost of Care Survey by Genworth Financial. Also, the average hourly rate for most home health aides rose 2.7%, to $25.47, or $52,977 annually for a 40-hour workweek. Genworth surveyed more than 11,000 nursing homes, assisted living facilities and home care providers in all 50 states and Washington, D.C., in January and February.
The national average cost for a private nursing home room is $204 per day. The state of Alaska averages the most per day at $539, while Louisiana has the lowest average at $119, according to the report.
The study is available at http://www.genworth.com.