Long-term care (LTC) costs have continued to increase, but not as much as other goods and services, according to John Hancock Financial’s 2011 Cost of Care survey of 11,000 nursing homes, assisted living facilities and home health care agencies nationwide.
Based on John Hancock’s 2002, 2005, 2008, and 2011 Cost of Care Surveys, annual increases in the cost of care in various settings closely track the long-term average annual rate of inflation of 4.1%. Specifically, the average costs in 2011 for various services were:
- For a private nursing home room ($235 a day/$85,775 annually), rising at 3.5% per year.
- For a semi-private nursing home room ($207 a day/$75,555 annually) rising at 3.2% per year.
- For an assisted living facility ($3,270 a month/$39,240 annually), rising at has 3.4% per year.
- For a home health aide ($20 hourly/$37,440 a year), rising at 1.3% a year.
LifePlans, Inc., of Waltham, Mass., conducted the survey for John Hancock.
