The cost of living in a long-term care facility increased steadily over the last year while home care costs have stayed flat, a new survey finds.
The daily cost for a semi-private skilled nursing facility room grew 3.4% since 2011 to a national median rate of $200 per day, according to a survey conducted by the long-term care insurer Genworth Financial.
The rate for a private SNF room jumped 4.2% since 2011, up to a median daily rate of $222. Assisted living rates saw modest growth at 1.2% since 2011, to a median monthly rate of $3,300. New Jersey came in as the most expensive state for assisted-living facilities, with costs averaging around $5,713 monthly.
By contrast, costs for home health aide services and “homemaker” services, which includes help with cooking or errands saw no growth at all. According to the Genworth analysis, home care rates stayed low due to “increased competition among agencies and the availability of unskilled labor.”