Annual nursing home charges have continued to rise at a healthy clip, fueled by higher labor costs and federal rules that drive sicker patients downstream quicker.
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.
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Many Americans remain in denial and are therefore disinclined to pluck the truth from the myths about long-term care, much to the detriment of their own finances as they turn to homecare providers for custodial services on a self-insured basis, if they can afford it. Those who need full-time skilled nursing care end up paying a median of $81,030 per year, according to the Genworth 2012 Cost of Care Survey.
It took me decades to unravel, but I think I finally figured out why my parents had nine children.
The rates nursing home charge and the prices they fetch on the market have hit new highs, reports reveal.
Attend an industry event these days and you're sure to hear doom-and-gloom forecasts for the skilled care sector. Simply put, LTC is not getting a lot of TLC.
The median annual cost of a nursing home room is now more than $87,000, according to a recent survey. To an uninformed member of the public, I'm sure that seems like a lot. But what the average person doesn't know is that the price also includes strippers, so it's actually pretty reasonable.
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.
What the long-term care insurance market could use right now is a healthy dose of capitalism. But it isn't going to happen.
What the long-term care insurance market could use right now is a healthy dose of capitalism. It ain't gonna happen.
Long-term care insurance policyholders should expect rate hikes, two of the most prominent vendors in the market have announced.
Long-term care providers have been able to sustain modest room-rate hikes, according to the 10th annual Cost of Care Survey from insurance company Genworth.
Geriatric care providers and healthcare professionals see where our current system is failing seniors, and family caregivers, but what are we doing to improve it, change it, or create a new system?
The cost of long-term care continues to rise, according to the 10th annual Cost of Care Survey from insurance company Genworth. The median annual cost of a private nursing home room reached $83,950 this year, up 3.6% from 2012, the report showed.
Family caregivers and family members needing emergency care are growing in number, and their combined impact is becoming evident to long term care professionals. Here are tips to help them in their time of crisis.
Low interest rates and policyholders' unwillingness to drop coverage are two of the key reasons the long-term care insurance market is in trouble, an expert asserts.
Two decades ago, private long-term care insurance was seen as a can't-miss option for funding future nursing home costs. But like many of the people who purchased policies back then, the product now finds itself in pretty bad shape.