Survey shows how much long-term care costs continue to climb
The average costs of semi-private and private nursing home rooms have risen 2.27% and 1.24%, respectively.
Five out of six senior-care settings became notably more expensive over the past year, with national average costs for homemaker services and a semi-private nursing home room rising the most (2.56% and 2.27%, respectively). Private nursing home rooms rose 1.24%.
The cost of a private nursing home room became $92,376 annually ($7,698 per month), while a semi-private room climbed to $82,128 annually ($6,844 per month), according to Genworth's 13th annual Cost of Care Study, which was released Tuesday.
The survey of providers breaks down costs by state and 440 regions. An online calculator gives instantaneous comparisons between states, as well as different care levels within a state.
Long-term care costs still are generally highest in the Northeast and lowest in the Southeast.
"As our data demonstrates, where you live has a huge bearing on the cost of care, as does the setting in which you receive care," said Tom McInerney, president and chief executive officer at Genworth.
Oklahoma recorded the lowest cost of nursing home care with the average semi-private room and private room averaging $4,410 and $5,019 per month, respectively. Alaska was the most expensive at $24,577 monthly — 3.5 times the national average — followed by Connecticut and Massachusetts.