Genworth 2014 Cost of Care Survey – Home Care Providers, Adult Day Health Care Facilities, Assisted Living Facilities and Nursing Homes

Source: Genworth, March 25, 2014

Research shows that at least 70 percent of people over 65 will need long term care services and support at some point in their lifetime1. Long term care can impact people and families in many different ways including finances, careers, lifestyles and state of mind.

The Genworth 2014 Cost of Care Survey can help families evaluate options to address the increasing long term care costs. For the eleventh consecutive year, Genworth has surveyed long term care costs across the U.S. to help Americans appropriately plan for the potential cost of this type of care in their preferred location and setting. The most comprehensive study of its kind, Genworth’s 2014 Cost of Care Survey, conducted by CareScout®, covers over 14,800 long term care providers in 440 regions nationwide. …

Key Findings:
Homemaker Services – National Median Hourly Rate: $19 Increase Over 2013: 4.11% Five-Year Annual Growth: 1.20%
Home Health Aide Services – National Median Hourly Rate: $20 Increase Over 2013: 1.59% Five-Year Annual Growth: 1.32%
Adult Day Health Care (ADC) – National Median Daily Rate: $65 Increase Over 2013: 0% Five-Year Annual Growth: 3.40%
Assisted Living Facility (ALF) – National Median Monthly Rate: $3,500 Increase Over 2013: 1.45% Five-Year Annual Growth: 4.29%
Nursing Homecare – Semi-private room – National Median Daily Rate: $212 Increase Over 2013: 2.62% Five-Year Annual Growth: 3.91%
Nursing Homecare – Private room – National Median Daily Rate: $240 Increase Over 2013: 4.35% Five-Year Annual Growth: 4.19%

Related:
Download cost of care for your state.
Cost of Care app from iTunes
Methodology
Beyond Dollars