Nursing Home Costs Rise Sharply in 2017

The median cost of a private nursing home room in the United States has increased to $97,455 a year, up 5.5 percent from 2016, according to Genworth’s 2017 Cost of Care survey, which the insurer conducts annually. Genworth reports that the median cost of a semi-private room in a nursing home is $85,775, up 4.44 percent from 2016. The rise in prices is much larger than the 1.24 percent and 2.27 percent gains, respectively, in 2016.

The price rise was slightly less for assisted living facilities, where the median rate rose 3.36 percent, to $3,750 a month. The national median rate for the services of a home health aide was $22 an hour, up from $20 in 2016, and the cost of adult day care, which provides support services in a protective setting during part of the day, rose from $68 to $70 a day.

Alaska continues to be the costliest state for nursing home care, with the median annual cost of a private nursing home room totaling $292,000. Oklahoma again was found to be the most affordable state, with a median annual cost of a private room of $63,510.

In Pennsylvania, the the median cost of a semi-private room in a nursing home in 2017 is $9,277 a month or $111.324 annually, That figure increases to $10,007 a month or $120,084 a year for a resident in a private room.  As for other types of care, the statewide average cost for an Assisted Living community in Pennsylvania is $3,650 a month or $43,800 per year. Pennsylvania residents can also expect to pay an average rate of $22/hr for Home Care Services and an average of $62 per day for Adult Day Care at a health facility.

The 2017 survey was based on responses from more than 15,000 nursing homes, assisted living facilities, adult day health facilities and home care providers. The survey was conducted by phone during May and June of 2017.

As the survey indicates, nursing home and other elder care options continue to increase annually, with care becoming more and more expensive. Because of this, it is extremely important to consult with the experienced and knowledgeable attorneys of Zacharia Brown to learn more about protecting your assets, available benefits and all planning options that may be available to you or a loved one. You may schedule an appointment by visiting our website at PittsburghElderLaw.com or by calling 724.942.6200.

For more information regarding specific state by state costs in Genworth’s 2017 Cost of Care Survey, click here.

 

 

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