Genworth recently updated data about the cost of various services in the aging continuum of care.
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Overall, while the cost of care among all care providers has steadily increased,the cost of facility-based providers has grown at a much greater rate than that for home care.
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Here is how it broke down.
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|
Provider Type
|
Description
|
Rate
|
Increase Over 2013
|
Five Year Annual Growth
|
|
Homemaker Services (Licensed)
|
ÛÏHands-offÛ care such as helping with cooking and running errands. Often referred to as ÛÏPersonal Care AssistantsÛ or ÛÏCompanions.Û This is the rate charged by a non-Medicare certified, licensed agency.
|
National Medium Hourly
$19
|
4.11%
|
1.20%
|
|
Home Health Aide Services (Licensed)
|
Provides ÛÏhands-onÛ personal care, but not medical care, in the home, with activities such as bathing, dressing and transferring. This is the rate charged by a non-Medicare certified, licensed agency.
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|
National Medium Hourly
$20
|
1.59%
|
1.32%
|
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Adult Day Health Care
|
Provides social and other related support services in a community-based, protective setting during any part of a day, but less than 24-hour care.
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|
National Medium Daily Rate
$65
|
0%
|
3.4%
|
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Assisted Living Facility (One Bedroom ÛÒ Single Occupancy)
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Provides ÛÏhands-onÛ personal care as well as medical care for those who are not able to live by themselves, but do not require constant care provided by a nursing home.
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National Medium Monthly Rate
$3,500
|
1.45%
|
4.29%
|
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Nursing Home (Semi-Private Room)
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Provides skilled nursing care 24 hours a day.
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|
National Medium Daily Rate
$212
|
2.62%
|
3.91%
|
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Nursing Home (Private Room)
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Provides skilled nursing care 24 hours a day.
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National Medium Daily Rate
$240
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4.35%
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4.19%
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No secret why we continue to publish data like this. Our platform is educated aging – physical, financial, emotional. Count this in the financial column and heed the message of saving for your anticipated long term care needs so that you are not blind-sided in a crisis should something happen to you.