Study finds costs for several forms of long-term care continue to rise

Genworth study: Long-term care costs on the rise

RICHMOND, Va. — Adult day care and assisted living costs both grew at a 12 percent clip this year compared to 2009, but other forms of long-term care showed more restraint, according to an annual survey from Genworth Financial.

The median daily rate for nursing care in both private and semiprivate rooms increased by more than 5 percent. The cost of services that let patients stay in their homes rose 3 percent or less, the Richmond, Va., long-term care insurance provider said.

The median cost of a private nursing home — the most expensive long-term care — rose to $206 per day this year, compared with $196 in 2009.

That adds up to a national median of $75,190 per year but the cost varies tremendously depending by state: Private rooms cost about $51,056 a year in Louisiana, for instance, but more than $200,000 in Alaska.

On the opposite end of the cost spectrum, the cost of home health aide services rose 2.7 percent this year from 2009 and an average of 1.7 percent annually over the past five years. Such aides provide non-medical care like help bathing and dressing.

The cost of homemaker services, which provide help with cooking or running errands, rose 3 percent to a national median hourly rate of $18.

Genworth surveyed about 13,000 long-term care providers in 436 regions nationwide. The survey did not explore why costs rose.

Genworth Senior Vice President Beth Ludden said it was too early to speculate on the cost impact of recent federal health care reforms that aim to cover millions of uninsured people.

On the Net: www.genworth.com/costofcare2010.