Home Health Aide Costs See the Sharpest Increase in Annual Long-Term Care Survey
Long-term care costs climbed again in 2021, with rates for home health aides and homemakers seeing the sharpest rises, according to Genworth’s annual Cost of Care Survey. The coronavirus pandemic continues to contribute to cost increases.
Posted on March 7, 2022
In the past year, Genworth reports that the national median annual cost of home health aides shot up 12.50 percent to $61,776, and the median annual rate for the services of a homemaker also jumped 10.64 percent to $59,488. Home health aides provide hands-on personal care, but not medical care. Homemaker services help with household tasks like cooking or cleaning that cannot be handled alone.
Price increases for nursing home care were more moderate, with the median cost of a private nursing home room rising 2.41 percent to $108,405 and the median cost of a semi-private room in a nursing home now $94,900, up 1.96 percent from 2020. Meanwhile, assisted living facility rates grew 4.65 percent for a median cost of $54,00 per year. After falling in 2020, adult day care costs rose 5.41 percent from $74 to $78 a day.
FREE WEBINAR
5 Things to Know About
Estate Planning
When You Turn Sixty-Five
Even though costs fell sharply there, Alaska continues to be the costliest state for nursing home care by far, with the median annual cost of a private nursing home room totaling $378,140, down 13.38 percent since 2020. Missouri was the most affordable state, with a median annual cost of a private room of $71,175.
The 2021 survey, conducted by CareScout for the 18th straight year, was based on responses from 14,698 nursing homes, assisted living facilities, adult day health facilities and home care providers.
As the survey indicates, long-term care is growing ever more expensive. Contact your attorney to learn how you can protect some or all of your family's assets from being swallowed up by these rising costs. For more information, contact us today.
More from our blog…
Is Your Financial Information in Order?
Preparing and organizing your financial information for when you are no longer capable will bring peace of mind to you today. At the same time, [...]
Why Parents Need a Power of Attorney When Children Turn 18
Every parent knows that momentous feeling when their child turns 18. It's a major milestone, symbolizing the transition from adolescence to adulthood. While it's a [...]
Can Alzheimer’s Disease Be Prevented?
While new knowledge becomes available each year about promising potential treatments for Alzheimer’s disease, recent research is also focusing on the prevention of the disease [...]
Bifurcating the Role of a Trustee: A Modern Approach to Trust Management
Trusts have long been a cornerstone of estate planning, wealth management, and charitable giving. Traditionally, the trustee held a singular role, overseeing and managing the [...]
Recent blog posts
FREE WEBINAR
5 Things to Know About
Estate Planning
When You Turn Sixty-Five