2011 Cost of Care: Long Term Care Survey - Genworth Financial

Each year key LTC insurance companies conduct cost of care surveys - surveys that help people plan for the cost of LTC.  Below is a link to the 2011 Genworth Cost of Care Survey.  There are some interesting findings:

 

1. In 2011, home care costs had a zero percent increase compared to 2010.

2. Assisted Living Facilities had a 2.4% increase

3. The highest increase was for nursing home care, which increased 5.1% for a private room.

 

The findings are in line with expectations - nursing homes are subject to a degree of "cost shifting", as private pay patients have to make the the cost of inadequate Medicaid funding from states.  Since most home care and assisted living care is private pay, they are not as susceptible to cost shifting.

 

Click below for a webpage with full details:

2011 Cost of Care: Long Term Care Survey - Genworth Financial.

Comments

[טויוטה אוריס]

Great financial survey shared by you. I am finance professor. I like read such posts. Thanks for sharing this one.