Nursing Home Costs Now Near $90K A Year

Nursing home costs keep rising.

Nursing Home
Nursing Home (Photo credit: LOLren)

The cost of a private nursing home in the United States jumped 4.4 percent this year, bringing the median yearly cost to $87,600.

This data comes from a cost of care survey conducted yearly by the insurer Genworth. It was reported in a story on jdsupra.com.

The median cost of a semi-private room was $77,300, a hike of 2.6 percent over 2013.

Assisted living facilities saw smaller increases, with the median rate jumping 1.3 percent, to $3,500.

The median rate for a home health aide was $20 per hour, an increase of 1.6 percent.

The rates vary from state to state. Alaska was the most expensive place for nursingย  home care at $240,000 a year. Oklahoma was the least costly at $57,488 a year.

A separate study by another insurer found the annual cost of a private nursing home in New York was $95,706.

If you have questions about elder care, feel free to call us for a consultation at (626) 696-3145.

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