Study Tracks Increase in Long-Term Care Costs

8:43 am Uncategorized

medical logo e1303486889654 Study Tracks Increase in Long Term Care CostsJohn Hancock Financial released the results of its 2011 National Long-Term Care Cost Study on Wednesday – a survey of 11,000 long-term care providers, including nursing homes, assisted living facilities and home health care agencies across the U.S.

The study found that long-term care costs are continuing to rise, but not as much as other goods and services:

The 2011 average cost of a private nursing home room ($235 a day/ $85,775 annually) rose an average 3.5 percent per year.

The 2011 average cost of a semi-private nursing home room ($207 a day/ $75,555 annually) rose an average 3.2 percent per year.

The 2011 average cost for a month in an assisted living facility ($3,270 a month/ $39,240 annually) rose an average 3.4 percent per year.

The 2011 average cost for a home health aide ($20 hourly/$37,440 annually) rose an average 1.3 percent per year.

If you need help preparing for your future long-term care or retirement financial needs, contact our Orange County estate planning law firm.

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