Charges for home health care services have increased by more than 7% over the past year — nearly four times as fast as the rise for nursing homes, according to a new survey.
The findings were detailed in Genworth’s 2019 Cost of Care Survey, which revealed that annual median cost for homemaker services reached $51,480 — an increase of 7.1% between 2018 and 2019. For home health aides, the annual median cost reached $52,624 — an increase of nearly 4.6%.
Charges for nursing home care, however, increased by just 0.96% for a semi-private room and 1.82% for a private room. The annual median cost for a semi-private nursing home room was $90,155, and for a private room $102,200.
Charges for assisted living also stabilized over the past year.
Experts believe costs of home care are rising due to everybody’s tightening labor market, compliance for new local, state and federal certifications and regulations, and shifts in post-acute Medicare reimbursement, according to a release.