Room charges now top $94K

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The cost of a private nursing home room increased an average of more than 3% annually during the past five years, and currently averages more than $94,000, according to a new survey.

John Hancock Life Insurance Company looked at 16,000 long-term care providers in the United States, including nursing homes, assisted living facilities and home care agencies.  The average cost for a semi-private nursing home room is almost $83,000, according to the survey. Assisted living providers, by comparison, tend to charge closer to $41,000 for private rooms, while adult day care averages $18,460 annually. Home care costs average just under $30,000 per year. 

A previous study, released in April by insurance company Genworth, found the average private nursing home room cost to be about $84,000 a year.

The Hancock survey found semi-private nursing home room rates increased an average of 3.6% per year. Assisted living rates increased more modestly, at 2%, while the cost of adult day services and home health aides each increased an average of 1.6%.


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