Posted August 29, 2008

According to a recent article in McKnights Long Term Care News & Assisted Living, the cost of care is going up… by leaps and bounds.

The article is below:

assisted living facilities are charging an average of 13% more than two
years ago, while nursing home operators have hiked prices 7% over the
same time span, according to a new nationwide survey.

The average daily cost for assisted living residents is $3,241 per
month, or about $108 per day, according to the 2008 Long-Term Care Cost
Study, which was released by Prudential Financial on Monday. It was the
largest jump among long-term care providers surveyed.

Average rates for a private nursing home bed, meanwhile, rose to
$79,810 per year (or about $6,650 per month or $222 per day), the
survey showed. Annual rates for semi-private rooms were about 11% less
than private rooms. That equates to about $70,810 per year ($5,900 per
month, $197 per day).

Geography played a familiar role in calculations, with Alaska
($183,595), New York City ($160,965) and Stamford, CT ($148,920),
ringing up the biggest bills for private nursing care, while Louisiana
($48,180) Kansas ($53,655) and Missouri ($55,845) billed at the lowest
rates.

Prudential teamed up with LifeCare, an independent “adult care”
services provider, to conduct the telephone survey of 1,613 long-term
care operators from November 2007 to January 2008.

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