Sticker Shock...Oil, Food And Long Term Care
Costs for nursing homes, assisted living facilities and some in-home care services have risen for the fifth consecutive year and might continue to rise unless more long-term care workers can be found, according to a new survey by Genworth Financial.
A private room in a nursing home now costs $76,460 a year or $209 daily, a 17 percent increase since 2004, Genworth's 2008 Cost of Care survey found. A semiprivate room in a nursing home is now $68,408.
The cost of assisted living facilities is shooting up even faster, having risen 25 percent since 2004 to a current average of $36,090 a year for a one-bedroom unit. Assisted living costs ranged from a high of $4,921 a month in New Jersey to a low of $1,981 a month in Arkansas.
Courtesy of ElderLawAnswers.com