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Nursing Home, Assisted Living And Other Extended Care Costs Continue To Rise In The U.S.

Stocks in this article: MET

According to the newly released 2012 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services and Home Care Costs , conducted for the tenth year by the MetLife Mature Market Institute, national average rates for long-term care in the U.S. continue to rise. The average cost of a semi-private room in a nursing home rose 3.7% in 2012, from $214 daily or $78,110 annually in 2011, to $222 or $81,030 annually. Assisted living base rates increased by 2.1%, from $3,477 monthly or $41,724 annually to $3,550 or $42,600 annually. The average rate for a homemaker increased by 5.3%, from $19 to $20 per hour. Only rates for home health aides and adult day services were unchanged year to year, remaining at $21 per hour and $70 per day respectively.

The five-year trend in costs reveals that the annual cost for a private room in a nursing home has increased an average of 4.0% per year while a semi-private room has increased almost as much at 3.8%. Assisted living costs have increased the most, at an average of 4.1% annually over the past five years. Homemaker costs have increased at an average annual rate of 2.7% in the same time period, closely followed by Adult Day Services at 2.3%. The five-year average annual cost increase for Home Health Aide services was the lowest at 1.3% annually.

Most Expensive and Least Expensive Regions

The “rest of state” area of Oklahoma (excluding Oklahoma City and Tulsa) had the lowest private room nursing home rates in 2012, averaging $147 per day. For a semi-private room, the “rest of state” area of Texas (excluding Austin, Dallas/Fort Worth and Houston) had the lowest average rates at $131 per day. As in the past, the highest rates were in Alaska, $687 (private) and $682 (semi-private). For assisted living communities, the “rest of state” area of Arkansas (excluding Little Rock) had the lowest average monthly base rate at $2,355; Washington, D.C. had the highest at $5,933.

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