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.

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 care is growing ever more expensive. Contact your elder law attorney to learn how you can protect some or all of your family’s assets.