The Senior Journal had an article about the rapidly increasing cost of long term care based on the John Hancock survey. The annual cost of a private room in a nursing home has climbed to $85,775. The national average annual cost of other LTC is; $75,555 for a semi-private room in a nursing home and $39,240 for an assisted living facility. The average cost of care received at home is approximately $20 per hour.
An estimated 10 million have enough trouble performing acts of daily living – like bathing, dressing and eating – that they require assistance
John Hancock Financial released its 2011 cost of care study that was conducted by by LifePlans Inc. The company surveyed more than 11,000 providers, including nursing homes, assisted living facilities, and home health care agencies, in key cities across the country.
● The 2011 average cost of a private nursing home room ($235 a day/ $85,775 annually) has risen an average 3.5 percent per year
● The 2011 average cost of a semi-private nursing home room ($207 a day/ $75,555 annually) has risen 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) has risen an average 3.4 percent per year
● The 2011 average cost for a home health aide ($20 hourly/$37,440 annually) has risen an average 1.3 percent per year