Long-Term Care Costs Rose in 2009; Another Reason to Consider Your Alternatives
The 2009 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs shows that private room nursing home rates rose 3.3% to $219 per day or $79,935 per year, while assisted living base rates also rose 3.3% on average to $3,131 per month. Home healthcare aides now cost an average of $21 per hour, a 5% increase; adult day services run $67 per day, a 4.7% increase.
Lesson - Most of these costs, save some nursing homes costs, are out-of-pocket. How are you preparing for a future where more and more people may live to be 100?